Don't Trust, Verify .:. July 1st HivePUD

Ten days ago, I wrote a post about spinning doctors, but that topic will never be old... Over and over again, in this "attention economy" age, spinning stories on the Internet is the main way to move markets up and down... I thought that people would see through all these spins, but it looks like the Kool-Aid drink is too good and we continue to drink it over and over again...

Regarding general crypto markets, imagine what people realized just today, Mr. Trump had some huge gains with his crypto "excursion" from the beginning of his mandate... Who would tell that? Hmmm... Launching a series of memecoins and dumping on people was too complicated to grasp? I can proudly say that I didn't buy any of those BS coins when they were hyped like new BTC, DOGE, or whatever... C'mon, people! To people's surprise, it looks like not everyone lost money on those tokens... Shilling crypto BEFORE elections, promising ZERO things to BTC, ETH, or other hodlers, working on the stablecoin agenda, Trump gained over 2B dollars on his memecoins!!! 😱

As I'm following crypto markets closely, I couldn't believe my eyes when I saw another rise of "meme-type" coins recently... I don't know what amazes me more... The fact that people who launch them have a perfect nose to sniff the bottom of the crypto markets, or that there is (again) huge interest in memecoins!

The irony of all is that it's so easy to verify new contracts, or just to check the rich list for new tokens... Most of them have heavily concentrated liquidity in a couple of addresses where over 80% of tokens are held! When the liquidity in pools (and exchanges) is low, it's so easy to manipulate the markets... Even if you check the biggest IPO in the US market's history, the SpaceX launch, you will notice a similar pattern... There are ONLY around 4% liquid stocks available at the moment!!! What will happen when the remaining 96% get unlocked?

Of course, we have our HIVE stuff too, where we could apply the "Don't trust, verify" logic... As everything is transparent on HIVE, you can easily check who is talking about powering up and who is doing it! Especially on days like #HivePUD!

When you dive into Hive-Engine tokens, that's even bigger Wild West... I remember the days when token creators would just mint additional tokens whenever they needed some money... Drop it on the market, dilute other investors, and move on... Unfortunately, everything that's not programmatic inflation could fit into this pattern...

So, don't just listen to what others are talking here on chain, or in Discord... Check their wallets and see what's really happening there... What they are doing...

Don't Trust, Verify!

Back to the #HivePUD and HivePower accumulation!!! Almost 1K HP gained from curation rewards, around the same amount from author rewards, and the rest came from my H-E endeavors and small trades...

This was my HivePower BEFORE the PowerUP:

1K this month...

Including this power up, a bit less than 3K accumulated during June...

Goal for the next HivePUD in August: 147K!

So, what is #HivePUD?

Just a short introduction to HivePUD... What does it mean at all? #HivePUD is short for the Hive Power Up Day. It's an event when Hive members power up their liquid HIVE and stop any active PowerDown! It all began with great fellow Hivians @streetstyle and @traciyork, and is held every 1st day of the month.

Check out the official #HivePUD post for July here... Hurry up if you want to participate!

Thank you for your time.

--ph--

None of this is financial advice!!!