 | A few days ago I made a post about a swap I saw on Uniswap. Someone had swapped $0.04 Eth for Pepe, with the gas fee almost $10. I asked the question "what would drive someone to make such an insanely unprofitable trade? The most common answer was that many people simply do not understand the fee structure. I didn't agree at the time, mainly due to stalking the address and seeming shitloads of shitcoins from various Defi protocols. But, after thinking about it for awhile, I'm inclined to believe that yes, in desperation to get their hands on the next Shiba Inu, many people are making incredibly stupid trades to get rich. Then I saw this: $0.04 was damn near the lowest amount swapped I'd ever seen, but I have seen some 2-centers. But less than a penny? Of course, lets look at that gas fee. PEPE volume has been insane lately, so I just knew I was gonna see some pain. That's right folks. Someone payed almost THIRTY DOLLARS in fees to net themselves 0.03 PEPE. I have no words. Now lets have a look at this poor soul's transaction history: Two transactions total. Transfer from Coinbase, swap to PEPE. What we have here is a CEFI baby that heard about PEPE, and took their first steps into DEFI. Maybe they went on to make a post about how insane the fees are on Uniswap, maybe they thought this was some kind of error. Who knows. At this point, it's just sad. This is like watching someone shoot up meth. Friends, please don't DEFI and drive. No shitcoin is worth it. [link] [comments] |
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