Another cave dwelling for goblin town has emerged. -100% in the matter of ~2 hours. If you were sleeping during this you surely are going to be questioning your investment after you look at a chart like that. Many seem to not believe it, thinking it is some glitch or some hack.
This does not seem to be the case.
Terrible Tokenomics can only create a situation such as this. Since you can mint TITAN from IRON, as the peg began to slip everyone minted TITAN and sold their IRON. The IRON stable coin is sitting at just around $0.71… Another wreckage for the scrape heap. I just hope that no one put their life savings in their. The day of the rope is around the corner and beckoning the petty cash supplied by demoralized, confused crypto noobs.
This tweet was posted on just two days ago before the 100% price dip and some think Marc(k) Cuban might have dumped it alongside the devs and some other insiders. Not far off the money I’d bet. People who can arrange meetings with anyone at any time because of their influence are dangerous as we saw with Elon and Bitcoin.
Most who made money from TITAN were not in the token for the farm either and anyone who looked at the math would see that buying the useless token and flipping it at a calculated top by redeeming their IRON would be exceptionally easy.
This issue highlights the important necessity of community in the crypto world. Without solid advice, apps and good faith behind projects than people’s fear will take over and a dump could happen to anything, even the best of the best projects. Most traders look at their token like this, pretty much all shit. This is useless to justify and concentrate their need to make profitable trades, exit to reduce risk and set stop losses. The average person isn’t going to learn or want to learn how to do this because they don’t have much time during the day to spend staring at monitors and waiting for the best opportunity to place an order.
For the average person, there should be a general thesis to purchases and a focus on a macro approach. This will normally result in a low risk, low stress, dollar cost averaging approach that pays back in the future. Obviously if you do have sources for something you think could float up quick and dump fast (like IRON and TITAN) than I would definitely take the chance. The truth is that you won’t find too many of these plays and most of the people who say they made thousands of dollars off crypto are normally still in the coin they bought, have put the money back into the market in some other strategy or spending it quickly on some vacation or party get away.
This super cycle continues and only those with the sternest approach and strongest hands will prevail for the most part, and a handful of traders who opened up profitable positions without losing it all to leverage.
