Crypto

Coinfessions Portrays The Dark Side Of The Bear Market

The Coinfessions Twitter account reveals something that’s not quickly available. Their tagline states all of it: “anonymous crypto confessions.” The little stories it provides paint a frightening photo. An market loaded with sharks and unfinished guarantees. Secretive people that hope never ever to admit their errors or the size of their revenues. Naivete and individuals who exploit it. All of that combined with Terra’s collapse and the starts of the crypto winter season it obviously brought. That is to state, Coinfessions is incredibly amusing.

Related Reading | Terra’s Do Kwon May Face Charges In The U.S. As Money Laundering Accusations Emerge

Let’s dive into a few of the most recent stories to see what we can discover the crypto market in basic.

Coinfessions About Losing Money

Hoping to buy a house next year:

“I still haven’t told my wife we lost 50% of our savings in Anchor. I’m putting what’s leftover from my paychecks into restoring it back to the initial amount, hoping she won’t notice. It will take me approx. 5 years with my current salary. We planned to buy a house next year.”

That Do Kwon man actually did a number on an entire generation, huh? Or was it the financiers’ fault for succumbing to a too-good-to-be-true deal with impractical yield? In any case, this Coinfession indicate another catastrophe on the horizon. This individual needs to understand that the better half will discover ultimately. They constantly do.

Hoping for rehabilitation

“Throughout the past bull run, I convinced myself I was a better sh*tcoin trader while on uppers. Now $250K in unrealized gains have vanished and I’ve spiralled into depression and a substance problem no one knows about.”

Yikes! Good luck to this individual. Let’s hope she or he discovers the assistance this Coinfession indicates she or he requires.

Hoping for recovery:

“It has been the most devastating 7 months of my life, I have never seen something as difficult as trying to be a trader. I came with the intention of making money and I was clickbaited by most accounts claiming absurd gains. I am ashamed of my losses, of myself. I sold my car, lost 6 years of salary, took out stupid loans, and worst of all, lost a big part of myself, emotionally. I’m now really antisocial and unwilling to do anything but I will not accept defeat as an option. I will go on with my head held high because one day, even if very slowly, I will recover what I’ve lost.”

The fact is, just extraordinary traders generate income. Everyone else is their food. This individual needs to reassess his/her method.

LUNA rate chart on Binance | Source: LUNA/USDT on TradingView.com

Coinfessions About Making Money

Rich person problems:

“I made it in crypto. I’m from quite a modest background, and haven’t told my mom I was rich. I’m really scared that money could change our relationship and she will see me as a walking ATM more than a son. I discreetly make sure she doesn’t need anything (bought her a car when hers broke down, but nothing fancy, same with new appliances for her flat) but always in a range that a regular middle-class son could afford. I see people in the ecosystem that gives unlimited credit cards to their parents and I don’t know if I’m a cheap *ss bad son or if what I do is right.”

This male is smarter than the majority of, and his Coinfession plainly reveals that he’s sensible with cash. He may be a “cheap *ss bad son,” however.

4:20 all day, every day:

“I work for 3 different DAOs making between 150-200k at each. I do about 10 calls per week, chime in, and go back to smoking w*ed. What bear market?”

This individual appears to have all of it found out. His Coinfession recommends regret, however. In any case, where can we ask about those tasks? Let us understand in the remarks. 

A technique to make money in the crypto space:

“I have been trading these markets full time since 2017. It has not been easy. But ever since I stopped giving a f*ck about anyone or any project in this space I finally started making money. I am here to steal from you.”

Yikes! You’ve been alerted. Don’t state this Coinfession didn’t alert you, due to the fact that it did. People like this are all around you, know. 

Miscellaneous Coinfessions

The problem with communities:

“I am the founder of a large blockchain project. I secretly hate our Discord community. They are the most toxic ungrateful, disgusting, and idiotic group of people I have ever seen. They all have terrible ideas and we would have tanked our project many times over if we had implemented even just one of them.”

Related Reading | Is SafeMoon A Billion Dollar Fraud? Coffeezilla Thinks So – Pt.1: Rug Pull

Wow, inform us how you actually feel. Something informs us this scenario belongs to what a great deal of DAOs go through. However, even if it’s offensive, this is the most safe of the Coinfessions we chose. Secretly dislike all you desire, blockchain job creator. As long as you don’t rug pull your neighborhood, whatever’s fine.

Featured Image by Shalone Cason on Unsplash  | Charts by TradingView

FED, dollar bills



Michael Evans

Professional writer, editor, and producer with over a decade of experience. I'm an experienced editor who has written for a variety of publications, and I specialize in editing non-fiction articles, news, and business blogs.

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