15 Extremely Hard-to-Swallow Truths about Crypto

???? 1. 99% of participants have never read a white paper

We really just get shilled coins by people we trust, ape and pray. We just care about the money.

???? 2. Most of DeFi is an unsustainable ponzi scheme

And the people who are the best at it treat it like a game. Which it is. Staking those DeFi tokens for high APR only provide more time for the private investor to dump on you.

???? 3. NFTs are the future

And it will drive more crypto adoption more than dog coins ever will. But not with current form of mostly JPG.

???? 4. A fully decentralized future is impossible.

Most of the things we call decentralized today are not decentralized at all. We just trust people in crypto more than people out of it for some reason.

???? 5. CZ (Binance CEO) has done a lot of good for the space

And doesn’t get the credit he deserves because most redditors are from US where they don't have access to the real Binance. They're the best exchange BY FAR in 150+ countries.

???? 6. All current Play2Earn games are ponzi

The closest thing we’ve ever had to a game with sustainable economy was RuneScape. They should be studying RuneScape as the bible.

????️ 7. Big funds get shit on but we need them

They funded so many projects when nobody wanted. Without them we wouldn’t have seen the massive explosion in crypto ecosystems over the past 2 years that enabled so many to make money. Yes they’ll dump on you, the good ones have earned it.

???? 8. Crypto is not easy

And if you ever find yourself thinking it is then it’s probably time to take some profit. You can put yourself in a position where crypto becomes easy, but that is extremely difficult to do.

???? 9. It’s easier to be bearish than bullish at all times.

Bulls are brave while bears are cowards. Its easier to sound smart as a bear than it is as a bull which is why most mid-curves gravitate towards this mindset in all approaches towards life.

???? 10. Some of the smartest crypto people in the world are on twitter.

It takes a lot of common sense and deep-level of thinking to figure out if they have their following because they’re smart, lucky or opportunistic. The best alpha in Twitter usually shitpost a lot.

???? 11. You probably aren’t learning anything on reddit after the first few months

You’re just looking for posts to validate your thoughts and stroke your ego. Go to Twitter and learn how to filter information. Knowing how to filter information will do you great in life, even outside crypto.

???? 12. Most influencers that claimed to be a successful traders are bullshit

If there is someone who you truly think is rarely wrong at trading, it’s because they are being intentionally vague and misleading to portray themselves as something they aren’t. Do not trust these people.

???? 13. Knowing how to track Whales are the most valuable skill in crypto

Go figure out which wallets know what they fuck they are doing and tail them rather than your favorite influencer.

???? 14. Leverage is the best way to lose everything.

Crypto is either in easy or hard mode, nothing in between. Your goal is to survive hard mode to enjoy easy mode. Using leverage in hard mode ensures you will lose everything.

???? 15. Most of you would be better off going BTC, ETH, and 1-3 alts

Holding 20 different altcoins is no different than holding 3 different altcoins. Have conviction and consolidate your bets. You have to learn to control your greed on your own.

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Source: "40 truths about crypto" by cryptunez in Twitter. Adapted for reddit and shortened by me.