If you’ve been in the space for a while now, you’ve probably heard the word “Degen” and have seen people post many thousands of dollars and tell you the made x1900 or x10 in the space of 1 minutes .
I know I’m exaggerating a little, but you know what I mean.
What is Degen and why you should avoid Degen as a newbie!!
I’ll be writing an article about that next. My question is, have you heard Degen, and have you traded Degen?? Are you Degen??
ya saya akan menantikan tentang DEGEN
Yeah, I’ve heard about it a few times.
Still struggling to understand what it’s all about though.
I never fancied degen right from time
Lmao, Always use money you can afford to lose on degen play. 80% of the time you will lose.
fastest way to be broke in web3 has to be connecting your walllet to anylink you’re sent
Degen is largely due to fomo… That’s the thesis
I don’t think that is a right time to venture into Degen
It depends on the kind of person you are and if you can properly manage and assess situations properly to be able to get into Degen
I can’t wait to read your article, bro
Tell us about degen please
I don’t think you should avoid degen. Look if you have a good amount of money, let’s say a few millions, you can live off the interest even with inflation.
If you have less money but still a good amount, let’s say 300-400k you invest in BTC and ETH because they are the most secure investment. It won’t 100x or 200x but you will get good, meaningful gains.
If you have much less money, let’s say 10-20k you will invest in Altcoins where you have significantly more upside but also more risk. The chance of hitting just one 100x project would offset all your other investments by a large margin. You risk your 10-20k for this one lucky strike because the upside potential is enourmous, so is your risk.
If you have much much less money, let’s say 1k or less, you will invest in degen projects. They have the biggest upside and the highest risk but putting 1k into BTC doesn’t change your life anymore. If it triples and BTC is at 90k, you still only made 3k.
Unfortunately, as we all know, the ppl without money will get burnt the most but few of them will have this exceptional gains. It’s all a gamble and being degen makes a lot of sense especially for young people who live in an economy that’s injust and f***** up entirely. Many see this as the one shot they have. Otherwise the money they inherit will just slowly get less money and those who are not lucky to inherit will never be able to afford their own place to live or pay off their student lows until they are 60.
Check my lastest article.
You have a point. But as a newbie, if you end up losing the little 1k you started with, you would easily feel pained and probably push the narrative that crypto is difficult and is a sc@m.
As a newbie, you should focus on getting into the right circle and community. Learning and understanding the market, trends and asking questions.
People come into the space because they probably saw someone post about making thousands of dollars in a short while, without knowing that those people have been in the space for a very long time.
So mu advice to newbies is to take it easy, if you have a constant source of income, without profit, you get tired after a while, and you can be in the space for more than 1 year and still lose all 20 trades in Degen.
Like I said in my lastest article, knowledge, connection, information, timing and experience are all needed to be a successful Degen.
Kindly check my lastest article
Sure, agreed but there are tons of those communities. Every community claims they have the right alpha. Many communities charge you. I had my best returns when I invested and zoomed out entirely, meaning not to listen to anyone else but just focusing on one narrative I believed in myself e.g. a tool pr blockchain I use personally. I see a lot of people having horrible anxiety because they FOMO or feel they don’t have the right info and will miss out.