This began as a response to one of the recent question threads asking about the crazy APR, $Time rebasing like it’s making you a millionaire from USD$10 in a year, and similar things, but I wanted to try & see if it could turn into an actual discussion here because it looks like there is an overwhelming amount of people who buy into this shitshow mainly/only because they think they’re simply getting a million dollars next year, and this has been going on for a while now.
Trigger warning: People who do that are extremely stupid and lazy. You’re not becoming a millionaire just because you send here 10 whole pieces of what tetherus announces as equal to an american dollar.
I cannot imagine the level of the lack of comprehension of any basic financial structure when you see an asset with an auto-increasing supply, and you still don’t figure out the increasing supply auto-decreases the asset’s market price. (And if you’re not that far behind in financial comprehension, the price action equilibrium happening this fast [de facto instantly, like it should be in any (developed) market] it should be showing how extremely saturated the coin itself is in the current market, which is obviously a double-edged sword.)
Half the people who do this are probably also sending money to the “send us btc now & we’ll send twice your btc back in 5 minutes” videos on youtube. So that’s how low WL has gone right now. The only way for a WL investor to avoid taking the punch that’ll come out of this hypocrisy is selling before certain collapse in the future, unless the situation actually, objectively changes moving forward.
It is quite obvious that we --all wMemo holders-- are making a substantial part of our capital gains here by exactly not clearing up this confusion. I’ll go ahead and say that everybody knows sporadic, one-to-one, personal responses by janitors on isolated forum threads only serve to sustain this confusion, and strictly refraining from taking systematic action regarding the issue itself.
Imagine if these many people are making their way all the way into the forum even posting threads all the time asking about this whole crazy APR and shit in May 2022, what happens WHEN (not if) the word actually comes out that increasing supply in saturated markets will certainly decrease the market price of an asset, ie. any asset, ie. anything you could trade?
Does anybody really think that clearing up this confusion will actually harm the project, in comparison to opposite action?
I understand that we’re not trying to be Harvard Business School here (yet) despite of our defi college etc stuff in the past (another showpiece, evidently), but then again, this situation shows explicitly how short-sighted the Wonderland investment strategies have become right now.
As long as this simple hypocrisy is conservatively maintained as at least one of the few fundamental driving forces of sustainability for WL, we’ve got no other choice than making peace with living with an objective, imminent fear that we’ll collapse as soon as the truth comes out. This is the very presumption that’s sustaining the public confusion by precluding options for systematic action on the issue.
This is simply inferior in sustainability. This way, WL will only receive some small money from some small stupid lazy people & maybe some price arbitrators. No revenue will contain calculated investment, other than some short-term grab & exit strategy. Becoming 10 percenters day by day.
Then again, it seems like an overwhelmingly large part of market actors are as stupider, or at least lazier than they could ever be. These people who are trying to buy $TIME token or trying to get 50K% APY should be asked a single question: Have you really not done ANY research regarding anything at all? Way better than paid janitors writing personal responses in isolated threads and literally getting paid for that shit imho.
Then again, this overwhelming level of lack of comprehension is probably the main reason why we mooned over $10k/time back then, the other reason being in the middle of a certain liquidity market booming like crazy, combined with Dani’s rhetorical aptitude, Messi’s popular past etc.
Then again, we are so rich here we don’t care we’re paying $USD 3K/a month per person to janitors with no objective accountability whatsoever than the limited accountability they may or may not have established within some insider clique. They’re even walking smoothly into the multisig now because the current multisig is whatever and whatever…
Then again, $wMemo price stability in the past month’s market is actually unbelievable…
The capital gains we’re making out of this stupidity I mentioned is a much clearer demonstration of corruption in financial markets than Patryn, who we kicked out with some perfunctory showpiece for self-government by only playing up some unclear dimension of an evil past & circlejerking some cynical jokes at the same time, could’ve ever done at Quadriga.
How long before somebody calls this an exit scam? Do you really have unequivocal arguments as to prove it’s not?
$wMemo’s price stability has been nothing short of incredible during the AVAX & market crash. That’s basically equal to the price-based gains made in daily 10x shitcoins.
Imagine having that strong an edge in this market, and not even marketing it, let alone marketing it like crazy. I’d make fun of those people for being too stupid.
I’m not expecting WL to invent the ideal form of self-government that Defi has made possible before we can deal with these issues. Yet I see laziness everywhere around here.