Think twice before you FOMO based on information from this subreddit – We suck at picking projects, and we shill our favourites hard after green candles
4 min read
The goal of this post is to help newer users: Every year, this sub chooses several favourite project that gets hailed as the greatest coin that will moon like no other. These projects then get a lot of positive attention. This was true for coins like VET, LRC, LUNA, ONE, and NANO, and will be true for many other projects in the future, particularly during the bull. So better be prepared. Even coins that are not the sub’s favourites will get shilled a lot if they are green on the day, such as like we saw yesterday with Doge.
How bad does it get?
Let us have a look at LRC, the prime pick of (late) 2021. Last year during October and November, every daily thread was spammed by LRC posts that were also heavily upvoted, enticing people to buy high. How bad can it get? Well, let’s look at the daily of November 9 and 10 2021, the days of the top of LRC at $3.5 – $3.9 range [now: $0.28]:
Insanely positive posts get upvotes and criticism or warnings get downvotes. The shilling got so bad that the mods here decided to step in and halt LRC discussion on November 10th. The crowd was not happy and downvoted every positive reply. Note that this was the EXACT day that LRC topped:
How did some of the sub’s favourites do?
Let’s have a look at how some of the sub’s favourites faired relative to all time high, when shilling these projects was at its peak. At the time of writing (30 November 2022):
Name Percentage down from ATH at time of writing Percentage down from ATH at the low after ATH VET -91% -93% LRC -93% -94% LUNA -100% -100% ONE -95% -96% NANO -96% -96% Average of all coins -95% -96%
Yeah, not that great. But the entire market is down a lot, right? Well, how much are the big caps down? Not nearly as much at the low or the time of writing:
Name Percentage down from ATH at time of writing Percentage down from ATH at the low after ATH BTC -70% -74% ETH -66% -82% BNB -55% -73%
What about a comparison to (some of) the coins that this sub likes to hate on [although we love them more when they are green] – how much are they down? Not as much as the sub’s previous favourites.
Name Percentage down from ATH at time of writing Percentage down from ATH at the low after ATH SOL -87% -90% ADA -86% -89% DOGE -81% -93% SHIB -84% -92% Average of all coins -85% -91%
Although it has to be said that this comparison is not ideal given that many of the sub’s favourites end up getting hated in the end due to poor performance, like Luna and One.
To sum up:
Be VERY careful when this sub picks a project and shills it hard. It might not do so well in the long run relative to other, arguably more solid projects. Moreover, this sub tends to do so after green candles, not before. The best part of this sub is the advice to DCA into BTC and ETH. When the green dildos arrive, this sub will entice you to FOMO, in part because very positive posts and comments about these coins earns Redditors money in the form of Moons. If you are early riding the wave, these projects can be AMAZING as long as you are a little lucky and don’t forget to sell when this sub starts shilling it at max. level. But if you are late and FOMO, trying to ride the wave will give you a high chance of drowning. The sub favourites so far of 2022 are Algo and Atom. Will they have a similar fate? I really don’t know. But the fact that this sub loves these two coins so much and that these coins have a weekly shill post –especially ALGO– that gets upvoted heavy while criticism gets downvoted might be a cause for worry.
I understand that this goes against the hivemind opinion so I might very well get downvoted for alerting people. But I hope that this reaches some users and prevents FOMO and the losst of money. No need to buy green dildos (but IF you do, have a plan and set a stop loss).
submitted by /u/Beyonderr
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