on-chain autist; i find crazy Xs and build cool things; never FA
Joined December 2024
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Man I was a big pf advocate and always gave them props for how they managed to find a product with pmf and print millions a day
As a business, they update regularly, albeit sometimes not with what the users want
However, the fact that they've made KOLs like sling and dior the face of their brand both makes me sad and confirms that they have absolutely no moral compass
Ruthlessness is needed as a founder in order to succeed in business, but compromising your morals isn't. The biggest extractors and dirtbags in the space are getting glorified and amplified.
Thankfully, I've been around longer than most and I'm knowledgable enough to traverse this market, but the newcomers you're trying to onboard, are getting led straight to the slaughterhouse.
The pump bag must be fucking hefty for Ansem to have done a complete 180 like this on the timeline 🤣
Everyone's got a price
pump has added ~11 chains past two weeks, & now giving out cash to people adding theses to higher market cap coins & trading perps + crosschain tokens
lot of the pushback on the rewards was towards ppl spamming callouts on low mc tokens and taking advantage of volume spikes, this is completely orthogonal to that activity
Meanwhile most web3 jobs have a *required* linkedin profile box
The hard truth is that @LinkedIn is where hackers start their day. @LinkedIn provides a complete org chart of all your employees. While we've known this for years as an industry, we've done shockingly little about it. Meanwhile, hackers have completely automated the process and know your new employees within days of their start.
This is why @BitGo banned employee profiles on @LinkedIn last year. It's also why @BitGo never hires someone we haven't physically met (North Koreans don't leave DPRK!)
Someone took my old channel username and posted a malicious @collabland link, and @telegram support still haven't taken it down after numerous reports
Very true, and my thoughts on PF are starting to become very mixed, having been a big supporter of them since the start
But one thing the industry keeps forgetting is this:
Alon and the other cofounders were trenchers at one point, one even recently accused of being a serial rugger. Their goal was to make generational wealth, make it out the "hood" essentially.
They made a product, found PMF, and essentially made the genny wealth that way. But that's where personality traits split. Jeff, from HL. Could have easily turned on an extraction machine himself, but instead continued building - a truly "builder's personality".
And in the case of pf and it's founders, it takes a certain kind of person to "stumble" (using that word very loosely) into genny wealth, and continue building like it's the business you're passionate for.
Hard to put it into words.
Basically it's like: why listen/build when you can just print? Especially if your goal from the jump was to just print anyway, not like pf is a charity or done out of the goodness of the founders' hearts.
I have such mixed feelings and I know different people would act different ways in their shoes.
> be Alon
> ignore the 95% of traders who want community coins to be supported
> pay $6m to a notorious on-chain rugger for "onboarding retail" instead
> claim he is most famous trader (<1M followers on all platforms combined)
> spend $1m+ to crime a coin to $50m, letting insiders feast, nuking community coins
> get completely fleeced by notorious on-chain rugger, who unsurprisingly deploys a scam coin (community coins nuke again)
> retweet scam coin, rugging everyone
> pull bundle from crime coin (-90%), rugging everyone again
> launch $2.5M trading competition that only benefits extractors and KOLs on pumpfun payroll to keep them quiet
> pretend you didn't just get fleeced for 8 figures in 24 hours
> continue ignoring the 95% of traders who want community coins to be supported
"used that spike to distribute into retail" is a diabolical way of saying "nuked their bags"
Everyone sees $BTC (Big Titty Coin, C5xph2…pump) ripping +252% to a $14.2M peak this morning.
Almost nobody looked at the actual pool mechanics driving the squeeze:
1. Custom Quote-Token LP Sink
Instead of pairing with SOL, dozens of parody tokens (LTC at $4.8M mcap, ETH at $1.8M, BNB, SUI) launched PumpSwap pools paired directly against C5xph2…pump as their quote asset.
Those child LP pools alone now lock 10.8% of total BTC supply ($1.11M liquidity in LTC/BTC, $635K in ETH/BTC, $283K in BNB/BTC). Every buy on a child token forces router buy-pressure into the base token.
2. Extreme Float Compression
Wallet 5YRgrP…Uzij (@slingoorio) holds 570.8M tokens - 57.59% of the entire supply in a single wallet.
Between that 57.59% bag and 10.80% locked in DEX pools, over 68% of supply is off the market.
3. Why $40K Moved the Chart by $3.5M (and Who Sold Into It)
With only ~31.6% effective float and $705K combined liquidity across the main SOL and WBTC pools, wallet 8deJ9x…XhU6 firing four $9.9K buy clips in 12 seconds was enough to send mcap from $10.5M to $14.27M.
Seconds later, top-6 holder 4MCHAZ…Gjfc ($25K across two clips) and wallet AhD7f9…DmEn ($33.8K single clip) used that spike to distribute into retail.
Clever custom-pair flywheel, or the most crowded exit door in the trenches if the 57.6% wallet ever flinches?
Phoenix retweeted
There’s a weird lack of shame about rugpulling now
I don’t know how it became part of our culture, but when I started, ruggers had to delete their account and show up again with a fresh tg
Kids this cycle will literally be fully doxxed just rugging like it’s nothing. And people kind of accept it
Phoenix retweeted
Axiom's $55.7M "Validator Bribe" Rip-Off on @solana.
@AxiomExchange is deliberately extracting millions from its traders through misleading transaction fees.
I stumbled upon this piece of data while exploring our database, here's our analysis 👇
I'm not in either so idc but this mindset will forever have you poor lol
Sometimes I feel ashamed to be part of this industry
Phoenix retweeted
Prev trader here, don't do it
A lot of the 2021 cohort has a wide resume gap with no transferrable skills or relevant xp to show
Most ppl I know are one of the following:
-unemployed and trading memecoins while working a retail job
-have gotten jobs in crypto vc
-have started their own firm
-trade coins systematically at a pro level
-have cashed out for good
Most success stories are from ppl who dipped their toes, learned the craft, extracted enough and immediately converted it to irl tangible assets (mortgage payment, down payment, uni tuition fees etc)
Think very carefully why you re trading and whether spending months/years of ur life is worth the cost.
Also, you have those gambling on coins (often with some informational edge) and others with quant bgs who do this professionally. If u were to seriously invest time in learning the craft, block all the pnl sharing KOLs and follow the footsteps of @therobotjames , @ScottPh77711570 , @liquiditygoblin etc.
On another note, time spent in crypto with some success means u're a NK target. It also means your perception of scams will be over-hightened to what's acceptable irl. It will be very costly when you default to being suspicious during job interviews, meeting new people, trying new tech etc.
I spent a few years in crypto and all I did was: buy a sailboat, go back to uni, go on tons of holidays, live comfortably with few years runway and still have enough for a home deposit.
All this to say, what do you want to get out of it?
Need some advice from genuinely experienced traders
I’m thinking about dropping out of uni to fully lock in on meme coins
On the months I got to fully do nothing else but trench I’ve made 5-10k. I also know that the more time you spend in the space the more likely you are to get more out of it
Obviously this is a big decision full of risk. My main concerns are :
- If memes have at least another 12 months
- Kinda the same as above : memes dying soon and needing to put in tons of work to learn something new
- Not seeing the progress I want to see by taking this decision
- Is it actually a good idea to do this
I fully believe in myself and my worth ethic, but just if it doesn’t work I’m scared I’m going to become a chud like some people I know who made a lot when they started out but lost it all and are now straight chudding all day
If you have advice and have been in a similar situation please help me I’m so lost atm
You see if you want to go into a trading or market making role... they all ask for X years exp at another trading or market making place. It's like an endless loop. Where would one even start?
@wintermute_t @EvgenyGaevoy y'all want an intern?
