PSA: Solana Chain is a Casino

Friendly reminder for whoever needs to hear it: projects (and I use that term loosely) on Solana DO NOT USUALLY GO WELL! This weekend is clearly the first taste of Solana launches for many on this sub. It is not an exaggeration to say that 99.99% of new coins will result in heavy or even total losses for all but a few insiders.

Be careful what you ape out there. You can and will lose everything if you get reckless. By the time you've heard about it, it's probably too late in most cases. The channel that you heard it from is filled with paid shills who are in on the grift and can and will dump hard on their followers.

Never gamble more than you would be willing to lose completely. This is true for every crypto but especially for anonymous hypecoins shilled on X and launched on DeFi chains like Solana.

EDIT:

I should add, I enjoy a bit of degen gambling as much as the next person and I've been doing it for years. But the point is, it is gambling and I treat it as such. I use small amounts and and spread myself over many projects. One takes off and I get out with a 2x or a 5x have a little more to play with and a nice dopamine hit. All the while the other 20 tokens I speculated on that day turn to dust. Maybe one day one of them goes nuts while I sleep and I put down a deposit on a house. But I am not gambling the money I need to live.

All I am saying is don't get swept up in the hype because the game is very heavily rigged against you. I am reading in the daily about people setting up Phantom wallets and asking which coin to drop thousands of dollars into. This is a recipe for disaster.