Connect with us
Apply Now


My Bizarre Adventure Through Small Coin Discord Channels

pink and black hello kitty clip art

Small crypto communities turned out to be echo chambers and spaces for reinforcing wrong perceptions of truth more than a place for people to share success and take advice from others.

Much like any other community, there are a lot of bad apples with crypto as well. Most of them are derived from purely profit-based motivation from followers and no real connection to the goal of the project.

FOMO is a real issue with new investors, and they are unlikely to find any relief from it when joining crypto communities or following “investment gurus:.

FOMO. I know it, I’ve experienced it and I’m still recovering from it. The only good thing that it has brought me is this story that I am telling you right here and right now. Every time the crypto market would jump in price, I would immediately feel a sense of disappointment, thinking that my future plans of saving up a bunch of money and dumping it into the crypto market were foiled. But the market would then come crumbling down again giving me even more hope.

Finally, sometime around April 2021, I had gathered enough in savings to a point where I felt comfortable investing. But being the skeptic that I am, I somehow knew that investing it in BTC was going to be a bad idea. Why? “Because it can maybe double at the most, and that’s not enough profit on crypto”, said I. So I started delving into smaller coins that had barely been released or had seen some interest from the general public in the past.

Due to them being so small and still relatively young, the communities involved with them are very close-knit and active. Have you ever been on a Dogecoin discord channel or subreddit? Imagine that but 10 times as intense. Let me describe a few things I saw.

Non-Stop Panic

Almost every single time the coin would lose momentum and start stagnating in price, around 50-60% of the chat would immediately start spewing pessimism about the coin. Calling it a scam. Calling it a failure, you name it. But the moment it would go up, then the chat would be absolutely littered with “Lambo wen”? “to the MOOOOON!!!” and etc. I’ve even encountered a few channels (I’m not naming the exact coins you may have guessed) where the creators or the teams behind the project were very active.

I remember this one particular case, where a community had been waiting for an update about the system the coin was built on. And every single time the price would drop and panic ensued, the founder would just stroll into the server. The mods would lock the chat (with consent from the community mind you) and a 15-minute wait for what the founder typed up would begin.

Once this essay was finally delivered to the chat, and the floodgates opened, any residue of pessimism would be gone. It looked more like a coach pumping up his boxer after he or she was nearly knocked out in the previous round.

And the message would always say the same things: “I’m so proud of this community”, “We’re working very hard”, “We’re almost done with the update I promise”, and of course, how could I forget, “TO THE MOOON!”.

Unbelievable Amounts of Racism

The crypto community I knew prided itself on being tolerant and accepting. No matter where you are, what language you speak, you’re welcome to the community that is building the future. But with these small coins, I saw lots and lots, and lots of racism just non-stop. It was particularly directed towards Indians, but that’s just my experience, maybe other channels were directing it to somebody else.

One particular discussion I managed to witness was about the crypto ban lift in India and how it was going to affect the project. The chat was pretty cool, everybody was singing India’s praise, Indian members of the community were being celebrated and everything looked pretty optimistic.

However, when questions about new crypto regulations in India started to float around, I saw all of that turn in an instant. First, it was about the project being dead due to these new regulations. Then it grew into blatant racism, many members of the chat calling on banning Indian members, fearing they were just gathering data for the RBI. Needless to say, I left that chat right there and then.

They Are All Literally The Same

You’d think that due to most projects taking pride in how different they are from every other blockchain project, their communities would be different as well. But, no, not really. Most small coin projects are the exact same, and their communities are the exact same. Whenever I wanted to butt into a new server, I was met with the same old same old. Calls on when everybody would get rich, and how the project was the best there is and was going to break Bitcoin.

My Final Remarks

Although there are so many more things I could talk about individually, I thought compressing them in one comment was enough. I really don’t like using this word, but if there is such a thing as “sheep mentality” it’s found in a shitcoin’s Discord channel. Now, mind you that not all Discord channels are like this, but from my experience, I got around 7/10 that were like this.

And now here I am, stuck with my savings and not knowing where to invest, but happy that I overcame FOMO. Who would’ve thought that seeing the absolute chaos that is a small coin’s community, would cure me of something so many have fallen victim to. But I wouldn’t advise trying it yourself. Although it helped me somehow, there is no guarantee that it won’t have an opposite effect on you or anybody else.

So, with that, I leave you to decide what you want to invest in when it comes to cryptos. The next best thing? Better check if that was said by the owner or his community, or actual thought leaders in the blockchain industry.

And when you see somebody flashing a Lambo he/she bought with crypto profits, it’s never really about skill or the “hustle mentality”. It’s either about him/her being friends with the founder who notified them about it early on, or unbelievable luck.

Continue Reading

Copyright © 2022 Disrupt ™ Magazine is a Minority Owned Privately Held Company - Disrupt ™ was founder by Puerto Rican serial entrepreneur and philanthropist Tony Delgado who is on a mission to transform Latin America using the power of education and entrepreneurship.

Disrupt ™ Magazine
151 Calle San Francisco
Suite 200
San Juan, Puerto Rico, 00901

Opinions expressed by Disrupt Contributors are their own. Disrupt Magazine invites voices from many diverse walks of life to share their perspectives on our contributor platform. We are big believers in freedom of speech and while we do enforce our community guidelines, we do not actively censor stories on our platform because we want to give our contributors the freedom to express their opinions. Articles are not commissioned by our editorial team, and opinions expressed by our community contributors do not reflect the opinions of Disrupt or its employees.
We are committed to fighting the spread of misinformation online so if you feel an article on our platform goes against our community guidelines or contains false information, we do encourage you to report it. We need your help to fight the spread of misinformation. For more information please visit our Contributor Guidelines available here.

Disrupt ™ is the voice of latino entrepreneurs around the world. We are part of a movement to increase diversity in the technology industry and we are focused on using entrepreneurship to grow new economies in underserved communities both here in Puerto Rico and throughout Latin America. We enable millennials to become what they want to become in life by learning new skills and leveraging the power of the digital economy. We are living proof that all you need to succeed in this new economy is a landing page and a dream. Disrupt tells the stories of the world top entrepreneurs, developers, creators, and digital marketers and help empower them to teach others the skills they used to grow their careers, chase their passions and create financial freedom for themselves, their families, and their lives, all while living out their true purpose. We recognize the fact that most young people are opting to skip college in exchange for entrepreneurship and real-life experience. Disrupt Magazine was designed to give the world a taste of that.