1/ # 1.5 - Review of Section 1

All of this mentioned so far isn't a great surprise to many people, especially those who've been in crypto a while. But if youre new you need to learn quick.

2/ There is some value at the core of this but theres too many unknowns/illusion/bullshit for it to matter. You won't know what will make it and its probably way overpriced anyway. Do not buy into the "adoption" dream. When the adoption era arrives, this game is over.

3/ If you want to succeed in crypto and perhaps make some money, you need to realise its a game of bullshit and narratives and the entire industry/twitter/communities cultivates this bullshit and delusion in order to keep more and more retail money coming in from another set of…

4/ …suckers so they can get gains.

It's mostly a ponzi, and to keep it going they need another level of retail in the pyramid to come in. You are probably going to lose your money in this game.

5/ Even if you are up right now, in 18-24months you will probably have lost a lot of that. Why? Because in a system like this theres no magic involved. You can't take more money out than was put in.

6/ In the game of crypto, everyone puts money into a pot, buying a token for an ever increasing price driven by the shilling of the early buyers. Eventually those early buyers take their gains from the pot.

7/ Every single dollar of those gains comes from someone else who put money in. The few "make it" at the expense of the majority who lose it. You'll see some deluded people describing crypto as a "great redistribution of wealth".

8/ Making it sound like its some financial revolution with money moving from the rich to the regular folk. It isn't.

9/ In reality its money moving from the pockets of regular folk, to a minority of people, shillers, projects and vc's, who successfully managed to take out more than they put in. It would be like if 100 people all put $10 into a hat, making a collective $1000.

10/ Only $1000 can be taken out. If 3 early people take out 10x gains, leaving $700. Then 5 slightly less early people take 5x, leaving $450. Then 10 people manage to take 2x, leaving $250.

11/ Of the remaining people, 12 manage to get their $10 dollars back, leaving $130 to be fought over by the remaining 70 people who come out at a loss. We can't all make it. A few will say "well surely thats the same as in all markets", No. Theres a difference.

12/ This is a very mature speculative bubble in which 99% of tokens are not going to exist in a few years.

Imagine a stock market in which it was suddenly known 99% of the listed companies would be worthless in a few years but being held up by speculative nonsense.

13/ It would collapse very fast. Before playing this alt game you need to first ask yourself if you want to. I personally don't give a shit about morals or ethnics in crypto.

14/ My attitude is that everyone getting into crypto should know that its a big scam of shilling, and if they don't they have no business getting involved.

The problem is that an ever-increasing number of people are coming into crypto who don't understand this.

15/ These people believe crypto is "the future" without realising the points raised above and the whole of CT + the industry works hard to ensure this delusion and misunderstanding takes place, while they themselves cash out "making it" on the back of those people.

16/ If you've made a lot of money in crypto you may think it was hard work, that your family and friends should be proud of your achievement, some people who've made it even go around bragging about charitable acts they've done or people they've helped. All that is bullshit.

17/ Every single one of those dollars came from the pocket of someone else who is going to lose money. If you put in 1000 dollars and took out 10000, a group of others out there are getting screwed out of $9000. You bought early.

18/ If you are prepared to take the risks of probably losing your money, and fine with accepting that if you do make money, its money from some poor sucker who lost it.

I'll next section cover how you need to be viewing crypto.