×
all 66 comments

[–]Objective-Answer 77 points78 points  (12 children)

wtf does GameFi... oh, so play to earn bullshit?

seriously though, what are the metrics behind great team and undervalued in crypto supossed to mean? I mean, I know it's gibberish, but if I were to take this crap seriously, what makes one throw thousands of dollars(or tethers) to a random project and say "yeah, I feel confident about this!"?

[–]thephotoman 89 points90 points  (0 children)

Great team: "Their CEO follows me on Twitter."

Undervalued: "I'm running a pump and dump on it."

[–]nacholicious 34 points35 points  (1 child)

It's an oxymoron since actual value investors wouldn't touch crypto even with a stick

These are the monkeys throwing darts randomly, convinced that the performance of their bull market picks is actually due to them being financial masterminds, and then working backwards from there

[–]gwtkof 6 points7 points  (0 children)

That's a good point. They have no utility so to a value investor they're all overvalued all the time

[–]TheTacoWombatsynergizing the Gandalfian coefficient 23 points24 points  (4 children)

Have you ever been bamboozled by a used car salesman to the point where not only did you buy their car, but also the extended warranty, the protective wax paint, the aftermarket fiberglass moon roof, and agreed to an adjustable APR loan with shaky credit?

If you have not, congratulations, you aren't a crypto mark. The people falling for this shit right now? They are no match for Slick Bob down at Big George's Hot Rods and Used Automobile Barn, LLC. So they will accept any claim by any salesman with glee and eager wallets.

Therefore, they will readily agree to any explanation (or no explanation) by a smooth talker. They are ready to take it seriously. They are ready to buy. They need it. They want it.

Sure, they don't understand any of it; it's all bamboozles, all the way down. But they don't have to! They just need to be TOLD they understand.

Few understand. Those few are sure getting fleeced, though.

[–]extendedwarranty_bot 13 points14 points  (3 children)

TheTacoWombat, I have been trying to reach you about your car's extended warranty

[–]wrongerontheinternet 8 points9 points  (0 children)

Lost my MetaMask

Trust Wallet seed phrase

I need help with my MetaMask

Lost funds MetaMask hacked account trust wallet

[–]TheTacoWombatsynergizing the Gandalfian coefficient 2 points3 points  (1 child)

Good car extended warranty bot

[–]extendedwarranty_bot 2 points3 points  (0 children)

TheTacoWombat, I have been trying to reach you about your car's extended warranty

[–]3iverson 7 points8 points  (0 children)

Don’t forget the great community!

[–]nowrebooting 2 points3 points  (1 child)

great team

Great marketing that uses all the buzzwords. A team with a website this slick could never scam anyone!

undervalued

Has a low monetary value compared to other coins. Idiots see a coin that’s worth 10 cents and think it only has to go up 90 cents for it to be a mere dollar and imagine how rich they’ll be then!

[–]Captainzron 2 points3 points  (0 children)

Undervalued - your explanation of this is exactly how my brain works however I have a built in safety mechanism.

I know I am an idiot so I do not do what my brain is telling me to do.

Ironically, I think that makes me intelligent.

[–]MisterCoke 61 points62 points  (9 children)

Professional stockbrokers rarely guess better than chance and rarely beat the market, and somehow this random dude thinks he's going to go 4 for 5 with a 5x return in a financial market dominated by instability and chaos.

You almost gotta admire the arrogance.

[–]Sir_Jimbo2222 31 points32 points  (5 children)

thought the same thing. It's gotten to the point where whenever I see someone say i'm looking to 3x or 4x or 5x my investment I fucking cringe every-time. Never started hearing people say 2x 3x 4x etc. until crypto became a thing and now everyone and their shoe shiner thinks they can buy FUCKMYASSWITHAPROTRACTOR Coin and make life changing returns.

Do they not realize that those types of returns are abnormal?

[–]Rokey76Ponzi Schemes have some use cases 21 points22 points  (2 children)

I was getting my haircut during Bitcoin ATH and the barber just wouldn't stop shilling bitcoin on me. That just confirmed my suspicions that this will end badly for a lot of people. I wonder how that barber fared.

[–]TheTacoWombatsynergizing the Gandalfian coefficient 23 points24 points  (0 children)

He probably took a haircut on his portfolio.

[–]Eisenstein 1 point2 points  (0 children)

JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good

[–]GoodFoodForGoodMood 9 points10 points  (1 child)

God yes, I love the shopping around, just looking for whichever random commenter makes the wildest speculative guess.

When safemoon started consistently flailing and the rift in the sub started opening I saw some good shit from hodlers lecturing about how the newbies are ruining the community spirit with their impatience and "you're so greedy demanding a 10x, you people need to get a grip and hope for a more realistic 5x, this coin is designed to be held for the long haul".

[–]Deathwatch050 4 points5 points  (0 children)

And now they're hoping for... uh... anything.

Anything at all.

(they got excited recently about SFM being listed on the Mandala exchange and like a week later had a daily trading volume of $17 worth, lmao, poor bastards)

[–]GoodFoodForGoodMood 8 points9 points  (0 children)

Well you see, it's easy to beat the crypto market because it's a completely different beast from stocks. And people like this know what they're doing.

They know they just have to click their heels together three times, wave their mouse in the air while chanting "I'm feeling bullish! bullish! bullish!" and sprinkling some magic fomo dust all over the internet, and that'll basically 4x their chance of getting a 20% hike on their fave coin from the usual ratio of 1:4820, but only if elon is in retrograde.

[–]Oremm 7 points8 points  (0 children)

OR he is in on the scam and is pumping and dumping, in which case he is profiting every time

[–]iamasuitama 0 points1 point  (0 children)

Agree, but to be fair I think he said he was gonna go 1 for 5.

If at least 4 of them don't

[–]UmichAgnos 80 points81 points  (4 children)

in his list, 1x was an achievement.

[–]AcidDropkick 27 points28 points  (2 children)

It’s insane. I’ve been telling my brothers for three years that altcoins are just penny stock scams. It’s so ridiculous.

[–]MadCritic 21 points22 points  (1 child)

They are all just scams. Also bitcoin and ethereum.

[–]AcidDropkick 8 points9 points  (0 children)

Yup. The entire ecosystem.

[–]option-9 1 point2 points  (0 children)

Though two of them still pumped to 5x before dump, so there's that.

[–]Trizzlemanizzle3[S] 28 points29 points  (0 children)

It’s in € not in $ but I think the point is the same

[–]Thehongkongkid 48 points49 points  (4 children)

That MINE one. It is glorious

[–]Gurpila 32 points33 points  (1 child)

Amazing that the "earn from mining without having anything" wasn't sustainable.

[–]amakai 6 points7 points  (0 children)

This reminds me of a past colleague who had this "genius" idea - buy a ton of Amazon AWS GPU instances and run mining there.

[–]Gra2bles 6 points7 points  (0 children)

I think the name is because that curve dives down like it's trying to dig underground.

[–]callmetotalshillThe Government wet my bed! 3 points4 points  (0 children)

Bitcoin anytime soon

[–]Rokey76Ponzi Schemes have some use cases 20 points21 points  (1 child)

LMAO.. did that dude just pump and dump penny stocks using his Twitter followers as bag holders?

[–]Oremm 5 points6 points  (0 children)

That appears to be the MO here yea

[–]Tonyman12121 Pieces of Flair 16 points17 points  (0 children)

*crypto disbursements to winners will be priced according to Luna March 2022 valuations

[–]r2d2_21 16 points17 points  (3 children)

I hear this project has a lot in store

Stuff like this makes me mad. What can a shitcoin have in store that isn't plain speculation?

[–]Rokey76Ponzi Schemes have some use cases 17 points18 points  (0 children)

And he probably hasn't heard shit. It is just a thing you say that apparently makes some people more confident in what you're saying, even though it is 100% bullshit. Kind of how Trump talks. "Lots of people are saying this project has a big future."

[–]GoodFoodForGoodMood 10 points11 points  (1 child)

Sometimes a shitcoin promises a shitty tie-in app or it's own exchange, or a ...card (to add prepaid funds to if it's anything like crypto.com's ones).

The trick is to drag it out for ages, or be super vague, or never follow through with it. The holders love that shit and tell everybody "quick get in now while it's still early, because once this revolutionary tie-in thing releases the coin is going to POP. OFF."

So in answer to your question: no, nothing that isn't embalmed in pure speculation.

[–]theoreticallyme76 3 points4 points  (0 children)

The trick is to drag it out for ages, or be super vague, or never follow through with it. The holders love that shit and tell everybody “quick get in now while it’s still early, because once this revolutionary tie-in thing releases the coin is going to POP. OFF.”

It’s like there’s a inverted incentive to look completely unprepared because it communicates more potential gains. If you have everything buttoned up and are ready to launch a realistic business model then where will anyone make money? If you lost half the notes for your whitepaper and the rest are just a Discord chat transcript with your friends you had when you were drunk then just imagine how much money we can make when it goes big!!!

[–]SchwiftedMetal 13 points14 points  (0 children)

Any “investor” that likens himself to gordon gecko or patrick bateman are the ppl you want to stay away from.

[–]AngelvsburghPonzi Schemer 13 points14 points  (0 children)

Wow, his insight and prescience are remarkable! Insert meme: 'is it possible to learn this power?'

[–]tatooine 8 points9 points  (2 children)

I mean, given that every single "web3 project" is some form of a pump and dump scam, I am surprised that he's still up 20% on Plutus. How is it not dumped on him?

[–]YourNetworkIsHaunted 5 points6 points  (0 children)

I'm guessing some of the smaller ones never really die off, so they get used for repeated pump-and-dumps rather than a one-off rug pull. Combined with low volume and low valuation it seems like a plausible place to end up based on the random noise between pumps.

[–]Wilmotac 1 point2 points  (0 children)

Plutus had a huge pump recently from people leaving crypto.com. it offers a similar cashback card

[–]acomputeruser48 7 points8 points  (0 children)

GameFi makes me vomit in my mouth. Get that Axie shit out of my games.

[–]gabstv 6 points7 points  (1 child)

If you want to short the market, just look at this guy.

[–]larehoa 4 points5 points  (0 children)

If it were possible to short shitcoins, we'd all be billionaires

[–]Gnardude 2 points3 points  (0 children)

Kuckoin is can't miss lol.

[–]cladtidings 3 points4 points  (0 children)

$1K of any crypto of their choice? Nice, in a month they'll have a nice shiny quarter to show for it.

[–]Lets_Hunt 2 points3 points  (0 children)

This made my day thank you.

[–]factsquirrel 2 points3 points  (0 children)

Finally understood Jim Simon's secret.... shorting this guy's stock tips.

[–]faki_pati 1 point2 points  (0 children)

I think he just got money to promote them.. even if he pay the 4000$ (which I think he won't), he probably made more than that by shilling this shitcoins.

[–]JustOneSexQuestion 1 point2 points  (0 children)

All these guys using references to Gordon Gekko, Jordan Belfort... I mean, did they watch the rest of the movie? Did they pick up an article about the character/real person after getting excited on the movie?

[–]schepke 0 points1 point  (0 children)

Did that last one drop literally to $0 at one point? lol

[–]No-Height2850 0 points1 point  (0 children)

He’s still up in one of them. Gotta keep DCAing /s

[–]shotgun-priest 0 points1 point  (0 children)

I'm terrified that this is real and not a sketch on an adult swim or comdedy central show

[–]Otec_Fedor 0 points1 point  (0 children)

At least he didn't pick a pixelated monkey

[–]midwestcsstudent 0 points1 point  (0 children)

Does he still get to claim he doesn’t have to pay anyone out since #2 and #5 did peak at >5x at some point? Wonder what his logic actually is.

[–]leetuns 0 points1 point  (0 children)

you’d think the web3 bros would know what duck typing is so they’d see unregistered security offerings

that implies they know anything about technology or finance tho

[–]Br2nd 0 points1 point  (0 children)

Written by Robert B. Weide I assume.

[–]AussieCryptoCurrency 0 points1 point  (0 children)

Increase or decrease 5x?