I’m excited for the next Pharm release. They are actually called “Degen Farms,” but I prefer to call them “Degen Pharms” as it sounds more illicit, like drugs, like day trading, like alley sex.
Degen pharm trading runs, like crypto, 24 hours a day. At any time one can enter a pharm, make some quick cash, then get out.
Being a Degen Crypto Pharmer is being a sucker fish sucking on the teat of the leavings of a crypto pharm created in a couple hours effort from a dev I imagine with questionable hygiene, and a bad sleep schedule.
I make black tea with heavy cream and monk fruit sweetener, and plan my day. I have a list of possible pharms with pharm launches after their token launch. I have carved out an arb (arbitrage) where I enter anywhere from 20 minutes to an hour after the pharm launches. Typically they dive to nothing. Just a red line heading downwards.
Yet, there’s always moment when they pause, someone starts to throw a couple hundred at it and it begins to rise:
Anywhere between 10 minutes to 30 minutes the rally will peak and then start to descend. Rally over.
I crack open a sugar-free Redbull and start my setup.
I set my intervals on the chart to 5 min for my entry, less is too much seesawing, 10 minutes and the rally could be over. Once I see two green bars I enter. After entering the trade I’ll set the interval to 1 min, always using the candlesticks, never the line chart.
I get in, enter the pharm at some ridiculous APR, something like 200,000% APR, divide that by 365 and you get 548% per DAY.
That’s 22% a hour.
I pair $250 worth of BUSD, a dollar stablecoin, and $250 worth of the pharmed coin.
A $500 stake to test the waters.
I set the slippage to 40% and click “Swap” turning my BNB to the token of the day.
I lose 5% to slippage, lucky this time. I pair it with BUSD I have left over and enter the pharm.
I catch the rise, printing stacks, $20 every 10 minutes. The rally lasts for 40 minutes — a long one, and starts to descend. A little over $80 in 40 minutes — and I’m out.
$120/hr equivalent. I kick myself for not putting in a full grand, but I know I could have easily entered too early and lost everything as the crypto keeps tanking. I count myself lucky and continue.
It’s nice when there’s a break between pharms. I plan it this way, selecting pharms not just on quality, but on entry times. At times pharms run at the same time, and while exciting, it can quickly become confusing as you flip from screen to screen.
This is one of those times. For one I decide not to go with a native pair, and use BUSD-BNB LP pair. When you use majors you don’t need to watch them closely. You still can get anywhere from 2–5% for the day, which annualized is 730%-1,825%.
On the other pharm I try to see if I can catch lightning again.
I’m on a couple telegram groups that focus on Degen pharming, so we start to hype the next pharm, asking who’s going native, ask about strategies and if we think the next one will “rug” — devs pulling out the liquidity, leaving the pharmers out to dry, unable to sell their liquidity to the now exited liquidity provider.
The pharm opens and I see the chart turn red. In the past I would just enter at the beginning, losing all my stake in a bloodbath, on the sidelines as the veterans made money hand over fist 30 minutes later.
There’s plenty of strategies depending on your knowledge and stomach for risk. You can make the 2–5% on major pairs, and if you have a significant pile of cash this is the smart way to go. Even the highest paying savings accounts only pay 2% a year. This is 2–5% PER DAY.
This is the easiest of money, and you could do well just doing this.
Then there’s buying into a token launch, hoping it will shoot up and you can get out at a solid profit. I’ve seen some people make over 100% in the span of 15 minutes. But I have never been successful at it, always losing. Unless you have some secrets up your sleeve, the ordinary investor cannot compete. You compete against pros, and even worse: sniping bots that can move faster than any human.
But my strategy, and the strategy of many traders moving past the major pairs is farm launches. Waiting for the drop down to the depths of hell, and the bounce up where you start printing money from the pharms, making money from the rise in the price of the underlying token, as well as the pharming percentage.
It’s quick action, and when you start printing money it’s pretty sweet.
I get in when I see 2 bars, but the candlestick continues down. I see two red bars and try to exit, but no one is buying, the trade has trouble clearing, and in the space of 15 minutes I lose 50% of my stake. Since I decided to put in $1,000 this time I lose close to $500, Minus my previous $80 pharm I am now down $420.
This hurts, but is also par for the course. For the longest time I didn’t associate myself with being competitive. But with certain things, like rock climbing, with SEO, and now with crypto pharming, that competitiveness rises to the fore.
I think I can make my stake back, and more.
The next farm is unusual in that it has been audited not just by the Rug Doctor, but Certik as well. Certik is something that costs a bunch of money, and is kind of the gold standard for pharm audits. The other thing is that instead of a token launch and then a pharm launch afterwards, this one is doing a simultaneous token and pharm launch. What this means is that everyone, pharmers, bots, day traders and random token buyers are starting on the same footing.
Once this happens the price tends to rise — and keep on rising. 12 hours at a time is not unknown. I decide to set aside 2 grand. I’ll put $1,000 at the start, and if it pans out I’ll put the other grand on the table.
There’s some jerk trying to be the smart guy in the room, spreading Tether FUD (Fear Uncertainty & Doubt) on Telegram, saying Tether was a disaster waiting to happen, and that it will implode the Bitcoin world.
I wonder why this jerk is going off pharming topics, then I see it — he plugs an article he wrote on the subject. He likely skips from telegram group to telegram group, spreading this FUD around, then shilling his article.
I text: “Honest question: why are you here giving people shit and spreading Tether FUD? That FUD has been defudded several times already. Why don’t you take your shit elsewhere?”
He gets defensive, then quietly leaves, never to be seen again.
The pharm opens and everyone tries to elbow bots, whales and small hands out of the way. I get in way over my target price and hold on.
For the next 12 hours, I print.
Money is shooting out of my ears. Yes, there’s drawbacks, but every drop is picked up again.
I’ve read of this in Telegram chats: a crypto that rises and keeps rising. I print and cash and print some more. Every 10–20 minutes I print another $20, and at the end of 12 hours, at midnight, it ends.
I make around $4,300 on a $2,000 stake, 65% in a day on the pharm, but double on the price of the underlying token. Minus the earlier $420 loss I am up $3,880.
An annualized $1,416,200 a year.
My best day yet.
In the background I have 10 other farms churning 2–5% on major pairs like BUSD-BNB, or DOT-BUSD. It’s my “safe” money. On the side I make my pharm bets, pharming the natives, lying in wait for the prize — like today, 12 hours of printing $$$. It’s a rush and lucrative, but a tiny portion of my overall portfolio.
Everything that I do has some risk, but like they say you have to risk to get reward.
“People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. #FlyingPigs360.” he tweeted
Back in early April, Michael Burry had deleted his Twitter account after flagging the Tesla stock, which he is short along with GameStop, Bitcoin, Dogecoin, Robinhood, SPACs, inflation, and the broader stock market. He resumed twitter tweeting again on June 14.
Burry Compared the Hype Around Bitcoin to the Dot-com and Housing Bubbles
Burry even compared the hype around Bitcoin, electric vehicles, and meme stocks to the dot-com and housing bubbles and said earlier this year that the stock market was “dancing on a knife’s edge.”
Burry is most known for spotting the mortgage crisis ahead of time and making a fortune against the U.S. housing bubble.
Back in February, he joined the inflation debate, making a comparison to the 1970s period warning investors to brace for inflation while pointing to a boom in demand due to the fiscal stimulus being injected into the economy, saying:
“The U.S. government is inviting inflation with its MMT-tinged policies. Brisk Debt/GDP, M2 increases while retail sales, PMI stage V recovery. Trillions more stimulus & re-opening to boost demand as employee and supply chain costs skyrocket.” he tweeted in February.
Republic Reals have recently set a new ATH value LAND sale for Decentraland, an open-world crypto metaverse game based on Ethereum. The virtual plot of real estate was sold as an NFT in Decentraland for a record amount of $913,000 based on the price of MANA cryptocurrency at the time.
LAND Token in Decentraland Metaverse Game Based on Ethereum Sold For $913K
In accordance with the data released by NonFungible, this has proven to be the highest-value LAND sale till now in terms of US Dollars.
However, it should be noted that there have been past sales for more MANA when the currency was worth a lot less.
The record is 2,772,000 MANA in the month of November of the year 2018, which was worth just under the level of $211,000 at the time.
Discussing a non-fungible token acts as a deed of ownership to a digital item and is tokenized on a blockchain in order to be conveniently validated.
NFTs have the potential to take all kinds of forms, from still images to videos and even tweets.
Republic Realm, the company that invests in virtual real estate in crypto games said:
“We can’t wait to announce our big plans for this estate. Our commitment to building and developing the metaverse is stronger than ever.”
Further About the Ethereum-Based 3-D Game
Decentraland is an online metaverse in which the players are provided with an option to freely explore the world, interact with other players, and play games within the environment.
Well, the 3-D game is not the only game based on blockchain build around plots of digital land sold as NFTs either. Axis Infinity and The Sandbox are also on the list of games developed on the Ethereum blockchain and have raked in millions of dollars selling virtual real estate.
The Bitcoin price since the price slash has not shown the tendency to rise above the levels till now. However, it did multiple attempts to jump towards the north, yet dropped to its initial levels. A similar trend was also seen with the Ethereum price as it also fails to move and sustain above $2500. …
The Bitcoin price since the price slash has not shown the tendency to rise above the levels till now. However, it did multiple attempts to jump towards the north, yet dropped to its initial levels. A similar trend was also seen with the Ethereum price as it also fails to move and sustain above $2500. Despite the bearish trend, yet the analyst believes much fruitful week is waiting ahead for both the assets.
The crypto space is filled with many speculations and predictions, yet some analyst strongly believes these pullbacks are temporary. One of the popular analysts, Galaxy has predicted the price to rise above the target by next week.
The analyst predicts BTC price at $42K and ETH price at $3k in the coming 5 to 7 days. And hence keeping the hopes alive for the bull rally to resume very soon.
Bitcoin Price Death Cross Expected Yet Not Validated!
Conpedia earlier reported about the upcoming death cross in the coming weekend, yet according to the reports, it may occur later in this month. But the intensity of the death cross is yet to be known.
This is not the first time, BTC price is encountering such a situation, yet it has survived many since 2013. Each time, the price has slashed nearly 70% and regained in equal the next bottom. Each time the retracement periods are similar prior to and after the death crossover.
The recent death cross in 2019 & 2020 did not have a similar impact as before. And according to a popular analyst, Rekt Capital, if the upcoming DC may drag the price to as low as $18,000.
The analysts in a series of tweet explained the death cross event since the inception and its impact on the price. The analyst also said that the price have its crucial support levels at $32K and $29K. And if the price slumps below these levels, then the DC will be validated.
After the market slash, the entire crypto space is looking for a massive breakthrough that can uplift the Bitcoin price and the Ethereum price to the next level. And if the BTC price sustains the upcoming DC, then the recovery may be imminent.
Despite the fact that the crypto market has been trending lower over the previous 24 hours, digital collateral token Amp (AMP) has continued to rise. Over the last 24 hours, AMP has gained 12.2 percent to $0.11, a gain of 12.2 percent. The cryptocurrency has gained 85.49 percent in a seven-day period. With a market …
Despite the fact that the crypto market has been trending lower over the previous 24 hours, digital collateral token Amp (AMP) has continued to rise.
Over the last 24 hours, AMP has gained 12.2 percent to $0.11, a gain of 12.2 percent. The cryptocurrency has gained 85.49 percent in a seven-day period. With a market valuation of $4 billion on June 15, AMP was the 28th largest cryptocurrency by market capitalization. The token was trading at $0.086 at the time of writing.
Here’s more about the 1200% hype since September
In decentralized finance, AMP is an Ethereum-based digital currency that is useds as collateral to secure transactions and decentralize the risk of asset transfer (Defi). AMP is a collateral token for Defi applications that secures smart contracts.
The price began 2021 at $0.006657, after first launching at $0.009559 in September 2020, but has since fallen. Despite the fact that it saw significant increases following the Coinbase IPO last week. This year, Amp has been a standout performer, rising from $0.03 to $0.10 in a matter of weeks.
Coinbase, Gemini, Bittrex, Flexa, SushiSwap, UniSwap, and a number of other centralized and decentralized exchanges are all partners with AMP.
Shopify’s recent announcement of broadening its payments capability to Facebook and Google merchants could be another huge boost for Flexa. Furthermore, Sheetz, a US food and retail chain, said last month that it will begin taking Bitcoin payments through Flexa’s services.
Amp’s native asset, according to the developers behind it, is a collateral token. It is meant to facilitate quick, secure transactions. A
Amp insures the value of any transfer as collateral while it is pending confirmation – a process that can take anywhere from seconds to hours to days.
When consensus for a given transfer is reached, the tokens used as collateral are normally released, making them available to collateralize another transfer.