A shitcoin experiment
On numerous occasions, I've talked about how much I don't like the way people treat the crypto industry Luke it's a casino. I think this particular way of going about business gives normies the wrong impression about the industry.
With that said, I've decided to also look at the crypto industry from a pseudo-normie view. This basically means I'm going to act like a normie but at the same time, be aware of how things go.
In this experiment that I'm doing with a random selection of shitcoins, I'll be gambling with crypto.
My motivation to try came from a bunch of news, including the fact that this dude retired early because of a shitcoin.
I don't intend to retire from this activity and I'm actually not expecting any proceeds from the activity, but I'm going to do it anyway, just to say I did it.
One million Shiba
I figured that if I'm going to experiment with the shitcoin game, I might as well start with the shitcoin that spurred me to try. I mean, yeah, Dogecoin is actually the king of shitcoins but Shiba has been blazing the trail lately.
The useless asset actually broke into the top 10 cryptos for a while and it's currently sitting at 11th position.
If someone could burn like 90% of the supply, that would actually be very nice. However, I honestly have no expectations from this purchase and that's a common theme for all the other tokens that made the list.
I bought slightly more than 1m Shiba on Binance and I'll just hold it. The plan for Shiba and the other tokens on this list is that I'll hold them until around February when I reckon the bull season should be at fever pitch.
Quantity not Quality
For the rest of the list, I picked out some shitcoins that I honestly don't know what they exist for. However, they exist and the Lindy effect ensures that they will always exist.
The first of the two coins I bought for my shitcoin experiment is approximately 97k pieces of Win or Wink token. It's a token that I've observed people shilling on Twitter.
I know it has to do with a gambling platform on Tron and nothing more. I don't have any expectations from this venture but I'll hodl anyways.
The other Shitcoin I bought was XEC(ecash). For Win, at least I knew something about it.
For XEC, I knew nothing about the asset. I was scrolling through Binance and looked for assets that I could own a few hundred thousand or a million and feel good about myself.
So, yeah, thanks to that, I also own 255k of XEC. It's a venture that I have no clue where it's headed.
My total expenditure for all the shitcoins was about $200.
There's nothing fancy coming up next. I bought shitcoins and will hold them until February.
I'll be watching the market to see if there are any pumps along the way. However, for Win and Shiba at least, I don't think there will be any major pumps along the way.
If any major move happens along the way, I'd gladly cash out to Stable coin and move the proceeds to relevant projects. However, if the experiment goes bust, I'll sleep easy knowing that I lost a gamble.
It's kind of weird for me because I'm not used to being in this kind of make-it-or-break-it crypto situation.
I'm generally invested in low-risk and low-reward-type projects with a solid foundation and potential.
That's why my major investments are in Splinterlands and Leo finance-related investments.
As it stands now, I'm holding a bunch of random and useless assets on Binance exchange. I have no clue what will come from it and that's why it's an experiment. We'll see how it goes.
Contact & Support
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- ETH and BSC wallet: 0xC75E34E3ee9a343041B3322E1bD97b4940Ed721d
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