You Know What Alt Coins Are? They’re Porn Stars
Let’s say today was a good day in the crypto market. You head over to Coinmarketcap or Coingecko. You see all those coins i.e. porn stars. Some of them are pumping loads. You can feel the adrenaline rush. The FOMO. You’re about to go for it. To the moon!
You’re temped to invest. SO tempted. You head over to Binance to do so. They’re all doing better than Bitcoin right now. Time to take advantage.
You buy ‘Altcoin x’ and ‘Altcoin z’. You just couldn’t help it and you went for the threesome. Ahhhh… yes! Even though something at the back of your mind was telling you that it could be a mistake.
But you bit the bullet. The cleavage was a little too much on this occasion and you just had to. A few days goes by, and the 0.10 BTC you put into your romance with the two shitcoins is now worth 0.14 BTC. Your investment is proving worthy! Gosh isn’t porn great. Wait, I mean crypto.
You’re doing great! And you smile.
A week goes by after that and your holding of 0.14 BTC is now unfortunately worth 0.07 BTC. Wait what? That wasn’t supposed to happen. It was a trap. You’re scared of losing more so you cash out back into BTC. In summary, you lost 0.03 BTC. It wasn’t worth it in the end. You feel the sense of loss and apathy. But you tell yourself it’s okay. Sometimes a little bit of porn is okay. Wait, I mean crypto.
Our brains have become used to FIAT denominations. So the decimal figure based BTC denomination provides the illusion that it’s not a lot of money lost. A little bit of porn never hurt anyone right?
But if you measure that 0.03 BTC in FIAT it becomes instantly clearer that it’s quite a bit of change. Alt coins are there to trap you. Just like porn stars. You can invest into them and try to get out at the right time.
But it’s a dangerous game. And it’s hard to get out at the right time. They just want your Bitcoin.
