Oddbean new post about | logout
 When I first started getting into Bitcoin, I thought coinbase was a great knowledge base, since they gave you “rewards” when you answered questions correctly about their “offerings” 🙄 
 💯 i member seeing someone on Xitter™️ saying this was their bread and butter scam, they get a fuckload of free shitcoins from the devs and then give some out and list it on their exchange, so those two parties come out on top while the vaporware factor and degenerate issuance policies of shitcoins drive them to zero for all the chump retail investors to get rekt

After that i still did the rewards but always converted straight to corn, until i deleted my account on that shithole 
 Whoa now that’s a scam! 
 
 The fact that they would announce it openly is crazy 
 To clarify i meant a pleb said that in criticism of coinbase. But yeah they definitely announce new offerings 
 Oh I get it. 
But yeah scambase is terrible. Giving a little bit to all the newcomers so they can get hooked. Luckily I converted to corn. But still 
 First taste is free, oldest trick in the book

“Oh shit it’s down. Guess i should now start actually buying it”
https://media1.tenor.com/m/pOfUpPxwgHEAAAAC/is-it.gif 
 “It’s still going down…better accumulate some more” 💀
Unknowingly becomes exit liquidity