When $MELANIE launched, I was awake at midnight and had the opportunity to ape in. I considered it several times before many people realized there was another meme after $TRUMP, but in the end, I decided not to. I had calculated everything; I was almost certain to get an x30 or x40 if I put in $5 (which should be disposable to some extent), but I did not because I did not like the idea.
Of course, I know I should not be sentimental when it comes to opportunities to make money.
For example, I know I could take advantage of any potential profit I might have made to increase my Hive holding, or just buy a little Hive with it without putting so much sentiment and just go in for the sake of money, but then meme trading is a rabbit hole. It is like gambling; the more you make profit, the more you get greedier, and the greedier you become, the more you stake and it goes downhill from there.
Make no mistakes memes can be profitable
Some people trade memes on a daily basis, they go in and out like nobody's business, making money and using it to invest in their actual main bags.
However, these guys have been trading meme coins for years, so they understand how to mitigate greed, as well as their entry and exit points. There is no sentimental attachment other than to secure the bag and leave as soon as possible.
However, most newbies are drawn to memes because of their low effort and high expectations mantra; some of them buy these memes and use them as their primary crypto bag, but they are burned because memes have no use cases, and when others profit, these newbies are left with worthless coins.
Newbie 101
To be honest, I believe that crypto 101 should include something like "if you are a newbie, trade meme coins with caution or avoid them altogether", but there are literally no guidelines anywhere, and a lot of newbies get burned every crypto cycle because of memes, but they keep onboarding new players every day, as evidenced by the insane numbers that $TRUMP achieved.
Do You Have Regrets?
To be honest, many people regret missing both ($TRUMP & $MELANIE), which I understand. The bear market has been extremely long, and everyone wants to win, so most people focus on what pumps and ignore the rest.
Chasing gains at the start of each bull run is a common practice. I read a post today where the poster complained about abandoning their initial bags and chasing pumps. It is possible that this person gambled and lost.
Addicted?
You see, this is not where I want to be. I have no experience trading memes, and I need a lot of money right now. This particular need will eventually drive me to become greedy, which is why I will most likely be caught.
No-coiners are used to referring to crypto as a gambling, but they're probably seeing talking from their point of view without truly understanding crypto or understanding most crypto projects that has real use cases and value. The real gamble is meme projects.
These coins are created with no real purpose, but because anyone with no experience can buy and hold them for profit, most newcomers believe that is all there is to crypto.
Unfortunately, until real projects begin to onboard people rather than memes, crypto will be viewed as a gamble by the uneducated and general population. Meme trading is addictive, and you can fall down the rabbit hole without fully controlling your emotions.
This is easier said than done because most of the time we spend working on ourselves about how not to become too greedy or complacent, or how not to become carried away by the market's euphoria and begin taking profits.
X30 or X50 and you might be financially free
Unfortunately, when that time comes, we continue to make the majority of the mistakes we promised not to make. Personally, I could have gone in or out, taken an x30 or 40, or made a good profit with $Melanie, but if I do, I will become addicted and lose my discipline.
These things are like alcohol or porn addiction. The taste of x30 or x50 is so intoxicating, and once you have bagged them for the first time, you may lose yourself in the world of meme because of how it can make you a lot of money in a short period of time with little effort.
Eventually, I believe the market will reward us all if we wait a little longer. However, if you have a lot of disposable income feel free to ape into your memes. It's either the easy or the hard way.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using INLEO
Memes are just gambling. I don't think its worth it even if the reward could be quite high. The risk just doesn't make me think that it is worth it. I think the good cryptos will still boom during the alt season but I am not sure when that will start.
Yeah, I believe the good alts that's maintained relevance over the years will actually boom when it's alts season. So we just have to wait to see what alt season brings
!PIMP
@tipu curate
Upvoted 👌 (Mana: 29/49) Liquid rewards.
Thanks a million
If you start with small timeframes as a beginner, you will lose. I also can't maintain discipline on these timeframes, which is why I use a bot. To keep your money management in check, you should start big—think month, week, and day. Here, the stop loss is larger, and you avoid falling into the spiral of overtrading and going all-in
Thanks for the tips. I haven't heard about using bots for trading, and it makes sense because we can get overly sentimental and lose it, perhaps go all in and hoping for a big win only to mess it up big time.
To be honest, between having newbies buy memecoins and them buying shares in crypto-based ETFs, although the latter are not crypto, they are probably a safer option than having them gamble on memecoins. I too hope serious projects in the crypto land will onboard more people, because memecoins are not the best way to start in crypto.
Memes are not the best way to start crypto, but do you know how many newbie millionaires in the US went all in on $TRUMP? I heard someone went in with a million dollars, made 186 million dollars and still didn't take profit, can you imagine that?
I imagine if they had 1m dollars to invest in memecoins they really didn't care about them. And probably thought "I either make it big or not". Of course, to us, that seems unbelievable, when even 1m could change our lives.
I'm glad to see that you turned the comments in the post! The message is important to be spread as nobody talks about that! 💪
Thanks for the motivation and the insight from you post. I think sometimes we get motivation from others and then use them to create stuffs of our own. Thank you again
Honestly, when I look at memecoins I can see almost no difference between them and going to a nearby casino, thinking you're going to make it big at gambling. But 99% of the the people who believe that end up losing, instead.
Perhaps the "professional gamblers" do end up making a big bag, and everyone else looks to that as "that's what you get," forgetting that to become a professional is not "money for nothing," but the result of likely years of experience and 1000s of hours of research and study... we overlook that the "..for nothing" part of the equation isn't actually that...
You're right, the ones who are the OGs are actually making some money and that's probably because theyve lost money too in the past and have probably mastered the art of gambling. The ones who haven't mastered it are probably going to learn the hard way.
Memes are addictive because of the way it promises a lot of gains on the surface
Having discipline is good, I don't think I would have been able to resist such temptation if I had seen it earlier. Perhaps now I understand why I loose from these stuffs, greed.😮💨
Crypto assets and investments are not understood by the circular world. It's even Hive that opened my eyes to the benefits of crypto
Yeah, for the most part, it was Hive that onboarded me to crypto and I don't understand why many don't see this benefit for them.
You could have made some money, but with meme's there's no guarantee. The Trump family tokens are quick plays and you could have turned the five dollars into $150, or lost it all. I heard about them both too late, but oh well. There will be more chances down the line!