So I was uncharacteristically able to short the top for the Trump token twice today. Didn't make that much money because it was for casual amounts but still fun to siphon value away from this grift and into something with more substance. Apparently a bunch of new Trump memes dropped today and sucked value out of the first scam.
A few days ago I sold my entire trading account into USDT right under the $100k mark with the intent of increasing my leverage as we approach the obvious sell-the-news event that is Trump's inauguration. We already got our Trump Pump and $100k unit bias milestone. Now it's time to bleed a bit. I setup a decent short around $105k so I'm already up a little... hopefully it stays that way.
A lot of crypto users have deluded themselves into thinking Trump is going to come in like a wrecking ball and rollback every crypto regulation in the book on day one. Oh yeah also he's going to deport all the "illegals" on day one as well... and pardon Ross Ulbricht. Well guess what? He's not going to do shit, and the market is going to crash when people realize they've put this scammer on a pedestal.
I was already fairly certain this was going to happen a while back... but now if feels pretty guaranteed with how salty everyone in crypto is about these obvious pump and dump pieces of garbage. Expectations will never meet reality. This is especially true in a market that always over-prices in the expectation on day one with zero discipline to wait for actual fundamentals to kick in. I expect it to be a rough couple of days, weeks, or potentially even months. Still holding out hope that the wildcard that is February flips in our favor. I give that like a coinflip so we'll see.
Hive is also down 14% to 40 cents today...
Obviously this is not as unexpected as it is disappointing, especially with a new wave of scams making into the top 100 with zero effort. That being said there is a silver lining in that I'd like to buy a tiny bit more Hive before it pops off again. We got our three pumps and we might bleed out for a while. I'm thinking double the floor is a good entry-point (32 cents). If we don't get that low I expect there will be plenty of time to pull the trigger at another price. Hive has a habit of going from extremely volatile and unpredictable to a slow gut-wrenching bleed in these situations.
TikTok ban?
So TikTok was banned for about 12 hours and popped back online today compliments of "Trump" "saving" it. If there was every a better way to make Gen Z cross party lines into the MAGA camp that was it right there. These people are hopelessly addicted and can be publicly seen freaking out about it in real time. Saying things like they're going to drop their data off directly to the Chinese consulate.
The TikTok ban also reminds the world (especially controversial speakers) that they need to be looking for a decentralized permissionless solution. Ian Carroll here has become one of my favorite "conspiracy theorists" because of how data oriented he is and how he likes to steer clear of making assumptions and extrapolations whenever possible.
Ian has seemed to have found NOSTR, which we all know is garbage because it's slow and it can't scale. When will they find Hive? No clue... but he is legit describing Hive here without even realizing it. Seems to be a theme with our network, does it not?
Red Note
There's also the weirdness that is Red Note, which is the ACTUAL Chinese version of TikTok that everyone was clamoring onto like a lifeboat. It was pretty interesting to watch people swap notes. Americans asking the Chinese if they have a social credit score (they don't) and the Chinese asking us if we have to pay for an ambulance or if that's just propaganda. Wild stuff. After like a day of integration it was considered rude to not post videos with both English and Mandarin subtitles (for everyone on the platform) and many Americans have literally started learning Mandarin to bridge the language barrier... which is pretty crazy to me. They always told us we'd be learning Chinese but acted like it would be the result of World War 3, not banning a social media app under false pretenses.
It seems that a good number of people realize that the government's reason for banning TikTok (BECAUSE CHINA) is complete bullshit. There are much more credible theories circulating: like our government just wants that data for themselves or Israel is looking to censor it because they don't like the content. Pretty sure that one's in the video above.
Conclusion
Number is going to go down for a few days...
And I plan on making some money on it.
I see we've already broken below $100k as I finish this out.
But don't worry the bull will be back in no time.
Just like we saw with Blackrock ETF approval.
SELL! THE! NEWS! DAMMIT!
this time is not different™
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That is one of the interesting things of the youngest generations. We all live in a fish bowl, us being on the internets, so why try to hide your data.
These companies really should just ask for it, with a clever game, with a gacha
Trump may already be president. Sworn in, inside, today. And tomorrow is just going to be a bunch of playing whack-a-mole with "lone gunman". (spy, spy, who's the spy) Anyway he will be all over the news. He may even be in two places at once. It will be Biblical how many sound bites of Trump we get.
Speaking of decentralized social media, there is of course the HIVE method, with multiple servers and block chain. But, there is also a way of everyone having their own "wall server". A $100 microcomputer that sits next to your router, and basically, it connects with other "wall servers" and shares your stuff with your friends.
I think there will be something else, with some broadcast protocol, that will require you to have a server always listening. Or several conglomeration servers.
Don't know. It is hard to imagine new tech. You know the problem will be solved, but there are dozens of ways to skin this cat.
Because survival is cumulative.
Like Reticulum?
I agree, and it's what we need to secure crypto from them that own extant communications infrastructure, who are not our friends.
As usual quite agree with your takes. However, I think Trump is a clown but infinitely better than the other option, so as it is customary on modern politics, I prefer the lesser evil. At least we will have some laughs with the circus. Last but not least, he is way more peaceful than Dems which are basically the political arm of the Military Industrial Complex.
Will it crash before or after the inauguration?
Well "before" looks to be off the table now that I've answered.
lol
We are so back! 😀😆
haha nice I've seen that movie way too many times
I think the TikTok ban is quite good. China doesn't allow American founded apps in their country why should USA allow a Chinese app that can be potential data leak .
Because they are lying about being worried about the data.
China owns hundreds of thousands of acres of farmland in USA.
Nobody cares.
The actual reasons they want to ban TikTok are illegal which is why they make up a bullshit story.
I feel the main reason is the fact that america is scared of TikTok popularity among its youth and the fact that the algorithm is being controlled by a company founded in China. Well, the fun fact is that Trump was the champion of the ban before during first tenure, and he wanted TikTok to be sold to an American company but now he is against the ban because TikTok help fueled is re-election and connection to the youth.
Well landed properties can be confiscated during war or conflict. So they don't really have potential harm to the host country.
Yes and I'm saying the China thing is a complete farce.
They are being paid by lobbyists to ban it.
All the while spinning a bullshit story.
Who do those lobbyists work for?
Who's paying them and why?
That is the real reason.
I think the short videos on 3speak it too slow and probably won't support a lot of people.
that's a valid assessment
scaling up is difficult
but also scaling up can't happen without the adoption to justify it
it's an interesting balancing act
4chonks enabled short video clips back in 2003, and that was anonymous, centralized, derivative, and free, built by an amateur on an allowance from his parents. It's impossible for Hive?
Uh yeah and what happened to 4chonks?
It didn't scale up and I've never heard of it.
So you're kind of proving my point here.
Personally I would NEVER get personally involved in a project like video hosting.
It's a fucking technical and logistics nightmare with high overhead cost.
There is way more low hanging fruit around here...
But everyone can see the value of video hosting and I'm glad someone is trying.
It's just very easy to bite off more than one can chew.
Which obviously happened considering all the delays and problems we see.
It's derogatory slang for 4chan. Moot sold it to Hiro some years ago, but it's still in operation, more or less. It's not a financially reputable site, nor was it ever. I am baffled how it's managed to stay in operation TBH. It just shows that even sites that run on a shoestring can manage to host short video clips, which was the only point I was making. Video's not magic, and it's not hard, if it's kept to rational limits.
It's astounding the blatant corruption and everyone just turns a blind eye. It's not even being hidden, it's being touted as if good...
I set up a buy on the internal market already at something like .36. I feel like that is a pretty safe point. Any lower than that and I might miss it. These meme coins are so ridiculous. I almost caught myself buying one today, then I said nope and shut my computer down.
ah crap, i finally completed my trade by buying back in at 0.43...
when you think you are catching a knife, but its just a spoon
Haha, That's usually the way it goes!
Yeah I was thinking of spinning up one myself called "memes are dumb"
They started a platform over on WAX at wax.fun with meme coins. I played around with it a little bit, but I didn't really understand what I was doing and it felt stupid, so I kind of gave up on it.
Yeah the amount of time you have to spend figuring out the tech is potentially a waste of time especially if the tech is intrinsically worthless like a meme.
Exactly!
good calculations and timing
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STOPFirst Trump coin diluted altcoins now more of their coins diluting Trump coin, dumb money should dry up by the end of this week...
I saw this weakness in the market, and I knew it wasn't going to break ATH, at least not now.
you nailed the political aspect of Tik Tok, voters and Trump in a single sentence. Was dumb for that to happen if they didn't like Trump, they do now.
I am expecting these meme coins to be dumped after a few days of hype
The banning of tiktok really affects a lot of people and it can also affect the market
There is no banning whatsoever, just an ellaborate marketing gimmick
!PIZZA
$PIZZA slices delivered:
(1/10) @danzocal tipped @edicted
Just when you thought things couldn't get any worse trump releases another scam coin and people pump it into the top 100.
I am just fucking amazed at how Hive, a genuine community token with shitloads of actual use cases and functioning products continues to languaish and now is 22 cents off the recent high of 62 cents...or was it 65 cents..
I sold some at 56 cents and 55 cents and 50 cents, so now I guess I should start buying it back...
But if you think it's going to 32 cents I better save some dry powder and just buy increments on the way down.
I guess I should be happy that I was ble to sell HIve and get my 1000 HBD back plus an extra 400 HBD, so now I shold just use that 1000 HBD to buy back my Hive.
This is one way to build my Hive stack, but it is an emotional rollcoaster in some ways... but to be honest my brain says rollercoaster but my heart says not really, this is hive and this is crypto, this is the norm...
The longer I am here, the less emotional I feel. My brain still registers what should be emotion provoking moments, but my heart has been been through to much of this shit to care.
I don't know if that's bad or good, it just is...