I've been here for a while now and I've gotta say ... I'm getting pretty tired of our little market. There's so much that is just so rediculous.
For starters, wasn't the whole point to get away from the mainstream markets and banks? Now here we are, directly correlated to the moves of the stock market, driven by bots, Wall Street bankers and big finance whales.
And while we have such a tiny market cap, so much money is diverted into an entirely seperate market that recently blew up, NFT's. How much retail interest that otherwise would have gone into crypto's longer term was wasted on the NFT market by buying shitty JPG's of monkeys and rocks with laser eyes? What the hell were crypto people thinking promoting that BS other than trying to make a quick buck off the backs of ignorant retailers? If people had any forsight, that interest and limited funds would have been much better used in crypto projects. And that new retail would have been much better off for it too. Sure, many would have left with the market downturn, but many would have held too. But now all that new interest has been wasted by getting burned by a (so far) shitty use case in a side-market that's down over 90%. A large percentage of whom never entered the crypto market itself.
And then there's all the news driven BS and shitty meme coins. Doge coin? Shiba inu? Are you f*cking kidding me? Meme BS like that does nothing but damage the markets credibility, and again ... divert limited funds away from legitimate projects.
And we're entirely dependent on people like Elon Musk (who I like, but that doesn't change the fact that the market depending on his involvement is rediclulous), that something-something-Miller guy, Saylor, Kwon, ... Since when do we care what a few rich folks do? As retail we have the power to move the market. Too many people are just wasting their money on shitty NFT's and futures trading, rather than buying spot.
It's sad to see this market turn into such a joke and be entirely at the behest of Wall Street ...
Hell I still remember back in 2018 everyone was bemoaning the fact that the entire market was tied to the price of Bitcoin. Now here we are, not only still tied to Bitcoin but to the stock market too. What a sad joke.
Grow up. Be the change you want to see. See people about to waste their money on NFT's? Slap them. Thinking about participating in the futures market? Stick with spot. Thinking about shorting? Don't, just buy the dips. See news about Elon, Saylor or Kwon? Don't give a f*. Just DCA, stake, build, whatever it takes. Invest only what you can afford to miss for the long run and ignore the short term noise. This is the only place a lot of us see as an alternative to the old world. A potential for escape from all the control and restrictions. The endless boomer politicians sticking their grubby paws into everything. And however small we are as individuals, as a whole, we can move markets and change things. In more ways than one. We need an alternative system and so far, this is the best one we've got. Don't waste it or let the old world shake you out and undermine it.
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