WAGMI anyone?
WAGMI is a familiar term used in crypto space by crypto bros. WAGMI as they say it, is an abbreviation for WE ALL GOING TO MAKE IT - a simple diehard phrase that is vaguely defined to be honest. You can honestly ask someone over the internet of what it means, instead of them repeating what that abbreviation stands for, they can't make sense of the phrase logical reasoning. Right, because it isn't logical. In short, what it is, is as good only as one of the battle cries into a losing war. They make it looked cool in movies like 300 Sparta. But in crypto, its embarrassingly stupid, really. Humans, acting like a bunch of gorillas stroking each other's low IQ egos. Apologies to my readers, let's continue on.
My stance
Been there, done it, regretted it, hated it. There, I said it. What it basically implies is that every single one of the users of the platform, new and old, going to become rich by investing in certain projects. Well, that is how users in crypto understands it anyway. If you believe that everyone in crypto will make it, as good ol Michael Jordan meme said: Stop it, get some help.
Let me be clear that I am no stranger to rain on the parade of WAGMI bros, that it is a false or skewered at least of a way thinking about your investment in crypto. As someone who graduated in Engineering degree, I know by textbook and practical way of what it means to balance a mathematical equation. There is a scholarly fact that input = output. A zero sum game. It is basically how our world really works. It's reality.
An example
Think of our own unofficial Bulb pool. The earlier you buy, the more bulb tokens you will get, but the later you buy, the less you'll get for that same 10 dollar. The more Bulb's price pumps, the less token you will get. By this time, those who bought in earlier will get more pumps on their tokens. The last buy of the token, will not be affected as much as hodl - IF, those who bought earlier don't sell at all. But, let's face it, that is not how this whole crypto investing goes. People WILL sell it at one point, and once that starts to snowball, those who bought late at higher price will lose part of that initial 10 dollars. The amount profited in those exchanges, is equal to the total of amount lost. There for, a zero sum game. Every crypto, nay, every investment that exist on the face of the earth follows this principle.
A wise man once said this to me, if you know for certain that everyone will dump their tokens, don't be the last one. You can only take out as many as someone else put inside a pot. You could however take less, but you can never take more. What I mean is, if there are a group of people whom took out earlier, they will gain more out of that pot, in contrary to those who took last out of the pot. In most cases, the pot is most likely to be empty. At the end of the day, WAGMI failed. Because WAGMI implied ALL will make it. In physics, it is call the law of equilibrium or a state of neutral. In Taoism, it's the yin and the yang. What it meant is, if there are winners, there must be losers. A Zero sum game. A ponzi like state where there can never be someone who wins, if there are no losers in the game.
Stop taking your investment in crypto so lightly, if you wish to grow into a matured crypto investor (who am I kidding, people are still getting rekt investing in memecoins and horrible shitaltcoins after taking advices from crypto-fluencers). But, I digress. You do what you do if that works for you. Memecoins does makes millionaires (by crushing other WAGMI-ers).
What constitutes as successful WAGMI then you ask? (If there is one)
The more accurate way to describe what general landscape of the space is "You snooze you lose" type of situations. Those who bought, or join in late into a project, often became the exit liquidity for those who bought early. Most scammy projects, are curated in such a way to prey on those who want to be rich by investing in projects that is overhyped. That is why 90% of the time, the principle of "Buy the hype, sell the news" happened. It may as well 100% to be honest with you. WAGMI is a standard starter kit used by the grifters to rally and FOMO other people before the project implodes rekting everyone's bank account in its wake. Disgusting to be honest. People lose their livelihood. Take your investment seriously, seriously.
By no means that I'm implying that WAGMI, or atleast 50% of it will actually become successful happen. For example, a group of developers, or influencers that works in a relatively small group to scheme an overhyping event, to dump on people who followed their advices. Logan Paul is good example of this. There are few that does this as well, like Ben (known as Bitboycrypto) among many that exist in abundance in Youtube right now. These low block human sub species are popping out again since the last few month's bull run. And as you can guess, these people are shouting "WAGMI" from the top of their lungs to convince you that you can be rich too just like them. Huge red flags, of course.
While all of this happening under the slogan of WAGMI, as an individual investors like you (my readers) and me, it is important not to get your mind influenced by these people who hoped to prey on our desperation to get rich quick.
Even when a community can thrive, it relies on its ability to keep attracting new users to its platform to bring in fresh money to keep up the ponzi like scheme. You can see this type of tokenomic in Axie Infinity before it implodes - as everyone starts to ask how do we get the pump, without external money from non coiners? lol. As it happens in plainsight, some projects retained its value by developers keep on delivering its promise to their users and potentially bringing in new partnership and large investors. Bulb has that very potential and if anything, the platform, being free to use (prone to being gamed by bad actors who farms free tokens and leave while siphoning the total marketcap), is moving toward a more preferable direction. Can't be more thankful for the developers being aware of this.
However, most projects in the space are being managed in such a way that it depends on the rallying troops of WAGMI mega-phoners. My very first red flag of a person, or a project. There is no such thing as WAGMI. It's like saying the earth is flat. That's just dumb. Stop it.
So why WAGMI?
It is for a small group of people who are scheming together like the movie Ocean's 11 to steal other's money. WAGMI is anything but not for the entire community. WAGMI is made for those who specifically will come out on top amidst the chaos they incited. Not for the sacrificial lambs that hold their bags for years on end waiting for second round of pumps. WAGMI is not an investment advice. It is a rallying slogan for those who can't think for themselves. More often than not, WAGMI leaves a giant footprint traces of people that got themselves REKT. Remember, crypto is always a Zero Sum game, and every man (and woman) for themselves.
Placing the proverbial anchor
You have to learn to manage your expectations, and learn more knowledge to know better about the projects you are involving with. There are many available online. There's Bulb, Publish0x, Hive, Youtube, and etc where you can find good information on learning skills like trading, getting in and out of crypto investment, proper investment jargon, technical crypto jargons, and etc.
As bleak as I make it sound like, getting out of that euphoria of WAGMI, if my writing shines a new light on what WAGMI is for, by who, for whom, and what its actually is, you now know better. That WAGMI is similar to false prophet's catchphrase slogan that will lead you directly to REKT hell.
Because honestly not all of us going to make it, because if everyone makes it, then no one makes it. If that make sense. Since the maths does not add up.
Aaaanddd as always, Thanks for taking your time to read till the end!
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