A few months ago I wrote this on twitter.

Figured I would bring it back here.

Bull runs tend to make everyone feel like a trading genius so you might be inclined to trade shitcoins.

Here we go 👇

If you're trading shitcoins to make more bitcoin, here are a few things to reflect on you might have overlooked:

If you currently own bitcoin you already have "enough" bitcoin; whatever trading you do for 99.9% of people won't make a difference. Of course, you think you are the .01% because that's human psyche, and casinos would not exist if this weren't the case, so you can probably stop reading.

Trading shitcoins is WORSE than any other kind of trading/gambling: if you subscribe to the idea that bitcoin is a technology for freedom, your trading shitcoins (i.e. giving them liquidity) provides oxygen to the most successful attack (to date) against bitcoin: generating confusion about what it is, and making people believe it's yet another speculative/trading vehicle. If you know this, then you, willingly or not, are participating in exploiting financial and freedom illiteracy.

We are where we put our attention; is your attention on something worthwhile, or is it focused on trading? Even if you just use X% of your attention, are you happy paying a (X%+context-switching-costs) tax to delay the world you want to see just because you want a slightly better position in a hyperbitcoinized world?

Your attention and time are WAY scarcer than bitcoin; are you protecting/respecting these as you do your cold storage?

You probably don't agree with this; otherwise, you wouldn't be trading shitcoins, but I'm writing this on the off-chance that you haven't considered this before and you were just too focused on the "I want more bitcoin" ambition.

TL;DR:

* You are wasting your life-force/energy on something that doesn't improve anyone's life, including your own.

* You are financially supporting scammers creating chaos.

* You are helping delay a tectonic shift in the amount of individual freedom.