/biz/ - Business & Finance

>>58356203
>What is going on exactly?
Apologize

>>58356298
BTC dominance hasn't done much at all though

>>58356298
I'm up 15x already
Sorry not sorry faggot

>>58356203
Biz doesn't often talk frankly about the mechanism for "alt season" because it is quite slimey and unflattering.. When you really understand it, it is basically a modern day cargo cult belief system. Tons of new shitcoins are being made, but it is only people already in "crypto" who are gambling on them. They are so low mcap that their mcaps are misleading and meaningless as everyone knows they will go to zero on a long enough time line. So its basically all flavor of the week memes which pump, but older shitcoins don't break out unless they are following btc anyways.

This dynamic seems to guarantee diminishing returns for the cargo cult imo, as even old participants in alt markets become increasingly cynical and jaded.

>>58356418
That feels more like a recent development.
There have always been shitcoins and meme shit which went ballistic and people knew the difference.

However i have noticed these days that legit projects tend not to move half as much as they used to. Its like people only go for the shitcoins and meme coins now

>>58356684
Yeah because that's where the fucking money is.
I bought $5k of Rubic. It's worthless now. I bought $14k of of MATIC. I'm down 40%. I spent $100 bucks on SHIB, and I got $83k (860x) out of it.

>>58356722
Thats gambling though. There is no investment strategy possible for the way things have gone with alts. Only gambling strategies.

>>58356771
Right. Increasing awareness of this means less will want to take the chance right? So the odds become worse for those who do. And what do you think will happen when the odds become less favorable than playing Vegas slot machines, but its substantially less fun, less comfortable, more stressful, and with more social stigma to it?

>>58356722
>I spent $100 bucks on SHIB, and I got $83k (860x) out of it.
> THIS ONE TIME AT BANDCAMP
cool story. do it again, retard

>>58356203
im a verge baggie but even the verge shit stained logo on foot made me kek

>>58356829
I never wanted to personally and have always avoided meme coins etc because gambling is dumb. Plus nobody actually makes money from them other then insiders. Any normie dumb enough to put enough in to make it big and who gets lucky inevitably bagholds to 0.
People with gambling strategy would not put on enough to make it because they know they have to buy 1000 and have 1-5 moon at all.
Its a complete fallacy.

That said the trend towards that unnerved me last run. At least before it was shit like verge or nano that tried at least.

Whats unnerving me even more this time is how its literally back to dog coins etc again. So nothing changed what so ever. Just doubled down. At least between 2017 and 2021 things changed even if it was for the worse.

Its like even the facade is gone now. The floodgates were opened to jeets and south east asians etc and they are not creative at all when either buying or creating scams, and maybe thats why its just straight up carbon copy of last run shit

>>58356203
Simple, alts are allowing us buyers a discount so we can properly accumulate before the halving moons them all. For example i had already sold my AGRS at 10 so of course the market recognized that i wasn't in and reduced the price to 4, im ready for the pumps again

>>58356203
>Alts have been bleeding and plummeting for weeks
if you have trust in them you should be buying when you see discount prices

>>58356203
Apu is going up
Rugging upwards to $20B
Plenty of room in the rocketship for you chief