Since my time starting in #nfts from almost over a full year ago I have learned a lot. Here are 20 valuable insights and hard truths that nobody will tell you. This will hopefully save you and your friends a lot of money in the future 🧵 👇 
1/ #WAGMI and #HODL are the biggest myths in #crypto - its statistically impossible for everyone to make it, and its an amazing tactic/psyops that #influencers, maxis and #whales use to get you to hold the bag as they exit
2/ You dont actually have to buy anything to be engaged and learn. When I started I had no money to trade but I'm a very observant person so I spent my first 2 months watching, taking notes, noticing patterns, learning from others, and paper trading
3/ You can still like/support a project while being a seller of that project. This is a big one if the floor price has gone parabolic and you think its overvalued currently take profits, if you truly like the projects you can always buy back in later when the price has cooled off
4/ You do NOT get to decide when to sell, someone else has to decide that for you by buying your bag, nfts are painfully illiquid
5/ Always try to sell into high volume, volume comes in waves and you may not always have the luxury of derisking into profits a few hours later
5/ Always try to sell into high volume, volume comes in waves and you may not always have the luxury of derisking into profits a few hours later
6/ Conversely if your feeling FOMO and buying into a pump youll most likely come out negative. Almost every pump has some sort of retrace eventually if you really want to get in a play
7/ Roadmaps are the team selling you on aspirational goals that they may never intend or be capable of achieving
8/ Airdrops of tokens/nfts worked for #bayc and a select few others, most of the time it just dilutes the original collection and creates a sell off event
If your swing trading this type of catalyst consider selling 12-48hrs before the airdrop happens, the original + the airdrop is usually worth less than if you just sold before the airdrop
9/ 'Utility' is a buzzword that to most means "what catalyst is there that can help me sell this to someone else for more eth later" crytpto/nft market doesnt really seem to care about fundamentals for the most part, at least at this point in the cycle
10/ If you have multiple sell at least one pre-reveal, you usually have a less than 0.1% chance to get a rare, sell pressure is immense after reveal, helps you avoid risk for incompetency on the projects dev side see @IsekaiMeta duplication issue as an example
11/ If your not in a rush to buy a project using WETH bids can save you 10-30% or +50% in capitulation events, this compounds immensely over time but can be frustrating to get a bid to hit as its usually competitive with insta flippers trying to arb 0.01-0.05 #eth
12/ A certain percentage of your nft profits should be converted into stables, a certain percentage of those stables should be taken out of crypto land to your savings/pay your bills
13/ 98% of the time twitter giveaways arnt worth your time, its usually just to farm engagement and winners arnt even ever posted
14/ If a project is requiring tagging friends, getting X amount of discord invites or has all messages for notis on by default consider leaving
14/ If a project is requiring tagging friends, getting X amount of discord invites or has all messages for notis on by default consider leaving
15/ A project having a lot of followers on their socials (twitter, discord) doesnt mean it will perform well, accounts cant easily be botted or bought before hand with a lot of followers and then change their name
16/ Having whitelist doesnt mean you should mint its just the opportunity to do so before public, wait to see if theres any organic demand before deciding to mint
17/ If the team isnt receptive or tuned in with the crypto/nft space (not listening to community feedback, high mint price for current market) its usually worth fading them completely as they will likely not making it past the mint stage or the 3 month mark
18/ If the team doesnt have a product or other ways to create cashflow outside of selling more nfts/ tokens then longterm they are #ngmi
19/ The paid trading tools are great and give you a little extra edge, but arnt need to be successful especially if your time rich and have a good group of people to bounce ideas/opinions off of, there are ton of good threads on this already depending on your needs
20/ You will potentially be disproportionally rewarded in skills and money if you put in enough time and consistency in this space compared to anywhere else in the world, it just takes one nft or one airdrop pop off to really get you started
That all let me know what you think or if there is anything else you think should be added. Could add a lot more things here but 20 is plenty for now. Feed the algo and interact with the first tweet in the thread if you found this @info_insightful
first tweet for convenience
https://twitter.com/info_insightful/status/1564361761058304000?s=20&t=xzpUjG_IU8QQ-7gnjip4Yg
another really good one that came to me:
/ EVERY single day is another day that you have to convince holders not to sell, as the buyer becomes more educated they need to feel they are getting more utility than the current USD value against it
/ EVERY single day is another day that you have to convince holders not to sell, as the buyer becomes more educated they need to feel they are getting more utility than the current USD value against it
unroll @threadreaderapp
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