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Day in the Life of a Degen Farmer

Date:

How to lose and win a bunch of Crypto in a day…

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.

All I can say is: it beats work.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/cryptozoa/day-in-the-life-of-a-degen-pharmer-632f56958f80?source=rss——-8—————–cryptocurrency

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