Weed through the shit and pick out the winners. That’s what all the crypto OGs told you. That’s what your paid group leader said was your path to independently, financial independence. But that was 2017. It’s 2019 and everybody prefers to buy the shit than the diamonds.
This philosophy encouraged self-proclaimed evangelist Cryp7oCoW into purchasing DeepBrain Chain in January of 2018. With a market cap of over $600 million, DBC was far from an unknown shitcoin. However, the proposed utility of blockchain+AI was a buzzword match made in heaven. As CoW fondly recalls, “The fundamentals were just too good to pass up on.”
But just days later, Cryp7oCoW was caught with his pants down on a coin that had already lost 75% from earlier that month. “Just a healthy market correction”, the evangelist reassured himself. CoW was confident that DeepBrain Chain would rebound and prosper.
It started to rebound, in May, and CoW was excited that he was now looking at just 50% losses. But of course, we were now in a bear market, and those gains quickly evaporated. Rather than panicking, CoW immersed himself further into the community and became an adamant “Brainy”. After all, the top players on Reddit and 4Chan had all agreed this was the next big thing.
For the next 18 months, Cryp7oCoW participated in community discussions, watched videos, read the white paper front to back at least once, and became a defacto expert on blockchain-plus-artificial-intelligence. Like other Brainy’s, CoW understand that DBC was a multi-billion, maybe even trillion, dollar project, and the market just had to come back around to accept it for the brilliance it is.
But as the days grew longer and longer and the charts bled further and further. CoW became jaded. When DBC fell to a market cap of $6 million earlier this month, the former Brainy had enough and sold his coins at a 99% loss. “But the fundamentals were so strong,” he muttered to himself, before cutting his losses and walking away.
Cryp7oCoW alleges to have not checked the charts of DeepBrain Chain since. DBC is up 23% since CoW sold, from 17 satoshi to 21.
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Sadly this is an experience of many other people too who burned money with this industry.