Earlier today: CZ shares the name of his dog, Broccoli
Degens go wild creating coins
CZ says he isn’t selecting an official one, and “will let the market decide”
Good idea?
Total disaster
Rugger’s dream come true
CZ’s credibility he’s inadvertently lending to these coins makes people trust them much more than they should
Nearly all of them end up as hard rugs
As is often the case, for certain types of things, “just let the market decide” gets everyone wrecked
Sometimes the market that’s deciding is a market for lemons
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
Degens go wild creating coins
CZ says he isn’t selecting an official one, and “will let the market decide”
Good idea?
Total disaster
Rugger’s dream come true
CZ’s credibility he’s inadvertently lending to these coins makes people trust them much more than they should
Nearly all of them end up as hard rugs
As is often the case, for certain types of things, “just let the market decide” gets everyone wrecked
Sometimes the market that’s deciding is a market for lemons
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
👀7😁2💯1
Someone launched $Broccoli on binance and bought $707 and sold all of it within minutes for
$6.7M
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
$6.7M
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
🤯10😁5
Just because they have a high winrate, doesn’t mean you will too if you copytrade them
Because their sells crash the price before you can sell
Copytrading is a farming scam
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
Because their sells crash the price before you can sell
Copytrading is a farming scam
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
💯9
People really are so retarded they can’t understand how the copytrading farming works
Here:
(1) guy buys a low-cap coin
(2) copytraders then buy, shooting up the price, because it’s a thin low-cap coin
(3) guy then hard dumps on everyone, locking in a win
(4) copytraders then sell at a loss, despite that the guy they’re copying sold at a gain
Copytrading has horribly backward incentives
They’re incentivized to farm you
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
Here:
(1) guy buys a low-cap coin
(2) copytraders then buy, shooting up the price, because it’s a thin low-cap coin
(3) guy then hard dumps on everyone, locking in a win
(4) copytraders then sell at a loss, despite that the guy they’re copying sold at a gain
Copytrading has horribly backward incentives
They’re incentivized to farm you
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
💯5👀2
It’s an extremely old idea, that’s been dozens if not hundreds of times
You never heard of those countless previous ones because they all badly failed in this same way
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
You never heard of those countless previous ones because they all badly failed in this same way
🄳🄾🄾🄼🄿🄾🅂🅃🄸🄽🄶
👏4💯3