TL;DR
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HAMSthe token associated with the Hamsters.gg betting platform, went from $0.41 to $3.26 and then all the way back to $0.65 as we write this (and it’s still falling).
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Projects like this, while they may be fun, and some people (usually the makers) make money; most people eventually lose.
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If you take a step back and look at the fundamentals of a project like HAMS, compared to the fundamentals of something like BTC, which makes more sense in the long run?
Full story
Things that seem cool at the time, but not afterwards:
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Getting a mullet for losing a bet.
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Getting a mullet because you won a bet.
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Eating a bunch of Brussels sprouts right before your first date.
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Betting on a hamster to win a race, with crypto.
Knowing this newsletter, we can go either way with this, but we focus on the hamster.
In case you missed it, crypto’s latest meme coin gained popularity over the weekend.
HAMSthe token associated with the Hamsters.gg betting platform, went from $0.41 to $3.26 and then all the way back to $0.65 as we write this (and it’s still falling).
The whole platform offers two things: betting on and watching live streamed hamster races.
According to the project white paperthe platform keeps 5% of all bets, so they win either way.
But some people on Crypto Twitter are calling the entire platform a scam.
We’re not sure. Honestly, we didn’t put any money into HAMS or bet on hamsters.
What’s however, it is clear that these types of projects, while they can be fun, and some people (usually the makers) make money; most people eventually lose.
If you take a step back and look at the fundamentals of a project like HAMS, compared to the fundamentals of something like BTC, which makes more sense in the long run?
We know which one we would prefer to bet on.