GM

yes they are meme bets

but still have to make sure they have all the elements of a good meme bet

not just about the memes

focus on just the meme alone, and you’re just a dumb gambler redistributing money from the poor to the already rich

Ah, yes, ofc

Both dextools and dexscreener show almost zero warnings on the surface, unless you click deeper

Swear that these sites used to show actual warnings a few months ago, but stopped

IMO these sites figured out that projects are going to refuse to link to them if they ever show warnings, so stopped ever clearly showing any warnings, even in the worst cases.

Lazy morons beware.

Scamminess Horseshoe:

But at the same time, we’re again forced to face the scamminess horseshoe / scamminess midwit curve

= The greatest bets are nearly indistinguishable from the biggest scams, by many measures

Both the most scammy projects AND the most legit projects do most things identically.

While the those in the middle who try to perfect all of their audit signals — most always turn out to be guaranteed losses! - at least for early stage bets.

Go ahead and fill a portfolio with early stage bets that perfectly pass all signals.

No great early-stage bet was ever totally “flawless”. Anything flawless by these metrics is most definitely a scam.

Case in point: BOME. The automated scam tools light up like a christmas tree for BOME.

Likewise if these signals were applied to Bitcoin, or many others in the early days.

i.e.

Perfectly passes audits: Less likely to be a scam, but near guaranteed to result in a loss.

Terribly fails audits: Either the biggest scam or most legit bet you’ve seen.

Scamminess horseshoe.

^ Throwback to 10th of February poll, when the /slashbiz/ telegram group raided our poll and voted that all memecoins are inherently scams.

Midwits can’t handle that most of the best bets look 90% indistinguishable from the biggest scams.

Now their group is banned from all apple devices.

Embrace the left curve.

Many such cases.

(1) Cheap-to-fake known-to-be-good signals soon cease to be good signals.

(2) But, expensive-to-fake good signals can remain good signals.

Goodhart's Law is BS because it’s just about (1), but if you add in (2) then it can be repaired.

Those buying just for “good narrative” get rekt

“Good narrative” can get a project noticed, and something good bets often have, but isn’t the real driver

“Good narrative” alone never enough.