You can consider this as a diary entry…

I will try to write this as a critic without considering anything that I am invested in or any projects that I made money with.

Generally, I consider myself as a very skeptical person. So before getting my foot in the water in mid-2020, I passed a blockchain course on Coursera which was mainly about bitcoin. I was totally fascinated at the time by how genius the innovation was and how many implications it could have.

So, I continued delving deeper into the space by reading about smart contracts. Still, everything made sense.  However, after two years working and doing research on an almost daily basis, I have become much more skeptical! Everyday I come across hyped projects which make absolutely no sense to me. But I ask myself if this or that project is a masked Ponzi scheme, how come people are willing to spend literally thousands of dollars on them? TBH, to this day I haven’t been able to find the answer.

There might be another side to the discussion; am I so skeptical because I myself didn’t earn a dime out of the so-called projects? I hope not. To clarify a bit more, I have made some money through retroactive airdrops, but honestly, I am not sure if more than 10 percent of those are useful and sustainable protocols.

One final point is that this level of high skepticism has helped me a lot exiting from projects at the peak. I was not a genius though! I just sold right after the token airdrop. According to the charts that I have looked at and the examples which happened in these two years, more than 90 percent of projects crash below their initial price.

As I told you at the very beginning this was just a diary piece which I wanted to share. If it does help you somehow, I’d be much happier.

Before finishing, I want to say that I am very happy to have gotten into the space and getting to know the details of a lot of things in this field is as valuable as great courses in marketing, psychology, and even sociology.

You can consider this as a diary entry…

I will try to write this as a critic without considering anything that I am invested in or any projects that I made money with.

Generally, I consider myself as a very skeptical person. So before getting my foot in the water in mid-2020, I passed a blockchain course on Coursera which was mainly about bitcoin. I was totally fascinated at the time by how genius the innovation was and how many implications it could have.

So, I continued delving deeper into the space by reading about smart contracts. Still, everything made sense.  However, after two years working and doing research on an almost daily basis, I have become much more skeptical! Everyday I come across hyped projects which make absolutely no sense to me. But I ask myself if this or that project is a masked Ponzi scheme, how come people are willing to spend literally thousands of dollars on them? TBH, to this day I haven’t been able to find the answer.

There might be another side to the discussion; am I so skeptical because I myself didn’t earn a dime out of the so-called projects? I hope not. To clarify a bit more, I have made some money through retroactive airdrops, but honestly, I am not sure if more than 10 percent of those are useful and sustainable protocols.

One final point is that this level of high skepticism has helped me a lot exiting from projects at the peak. I was not a genius though! I just sold right after the token airdrop. According to the charts that I have looked at and the examples which happened in these two years, more than 90 percent of projects crash below their initial price.

As I told you at the very beginning this was just a diary piece which I wanted to share. If it does help you somehow, I’d be much happier.

Before finishing, I want to say that I am very happy to have gotten into the space and getting to know the details of a lot of things in this field is as valuable as great courses in marketing, psychology, and even sociology.