I have been following bitcoin and the shitcoin space since 2015, and it honestly feels like 3 decades with the amount of shit I've seen go down in the past few years. I was there calling out Bitconnect as a ponzi, and thinking other coins were still legit, but later I came to realise they're all just different flavours of dookie.
Some say I am a toxic maximalist, I just look at it as someone who actually paid attention to what's going on and connected the dots. I am so tired of hearing the same old stories, I am tired of being pitched, and I am tired of having to dispel the same nonsense over and over again.
I'll put it my opinions out there, but I have no ambitions to argue with people who want to line up to getting rekt. All I can do is enjoy their shitcoiner tears and I suppose that is enough.
The LunaC continues
I was there for the ETH chain roll back when they forked it into ETH and ETH classic and what a difference a few years makes hey? People have very short memories.
Now this time around instead of a DOA hack, losing a few million, it's an unsustainable business model blowing up near 50 billion in market cap.
I read the stories, I followed the tweets, I saw plenty of retail and institutions get absolutely rekt by the Luna ponzi. Some claim to have "gotten out" in time, but I don't believe this, no one wants to admit they're failures, the truth is very few were on the winning side of the trade.
How do I know this? The fact that Do Kwon is getting backed by the same LP's to try and do it again.
So apparently he is rebranding Luna and UST into LunaC and USTC the classic version and lord knows what's going to happen to them.
Then launching a fork of the same chain, airdropping a new shitcoin on holders of the previous coin to try and make them whole, while granting themselves a healthy second premise to market make and dump on retarded retail.
Shitcoiners gonna shitcoin
So here's how the game goes, the LPs that got rekt, are looking for a bail out, they've sold other positions, or borrowed heavily to fund a seed round and acquire an allocation of the new premine.
Once the new network is pushed live on exchanges, they'll attract retarde retail to claim their coins and exchanges are willing to buy up that new supply to create a market, so that's your first exit liquidity.
Exchanges don't care because they will make it back on fees at a later stage and see it as a loss leader.
The next phase will come with adding some DEFI tools on top of it to encourage trading and transaction, to drive fees. The need for fees means a need to buy the base token, the need to buy the base token give you immediate exit liquity.
Once the LPs are made whole, they will move on to the next grift and retail will once gain be stuck holding the bag.
At this point, I honestly believe that shitcoiners want to get rekt, they're standing with their arses bent over and love getting fisted. I was dumb enough to think that people actually wanted to learn, I was wrong.
Enjoy the lunac, you deserve each other
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, "I am a Jessie."
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