The Latest Meme Coin (And Why You Should Be Careful)
TL;DR
HAMS, the token associated with the Hamsters.gg betting platform, went from $0.41 to up to $3.26, and then all the way back down to $0.65 as we’re writing (and it’s still dropping).
Projects like this, while they may be fun, and some people (usually the creators) make money; most people lose out in the end.
When you take a step back and look at the fundamentals of a project like HAMS, compared with the fundamentals of something like BTC, which makes more sense in the long term?
Full Story
Things that seem cool at the time, but not in hindsight:
Getting a mullet because you lost a bet.
Getting a mullet because you won a bet.
Eating a bunch of brussel sprouts, just before your first date.
Betting on a hamster to win a race, with crypto.
Knowing this newsletter, we could go any direction with this - but we’ll focus on the hamster one.
In case you missed it, crypto’s newest meme coin gained popularity over the weekend.
HAMS, the token associated with the Hamsters.gg betting platform, went from $0.41 to up to $3.26, and then all the way back down to $0.65 as we’re writing (and it’s still dropping).
The entire platform provides two things: betting on, and watching, live-streamed hamster races.
According to the project’s white paper, the 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 haven’t put any money into HAMS, or bet on any hamsters.
What is clear, however, is that projects like this, while they may be fun, and some people (usually the creators) make money; most people lose out in the end.
When you take a step back and look at the fundamentals of a project like HAMS, compared with the fundamentals of something like BTC, which makes more sense in the long term?
We know which one we’d prefer to bet on.