#72: "Degen Disasters: The Worst Altcoins We Ever Owned"

Crypto Unplugged

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Welcome to Episode 72!

In this episode of Crypto Unplugged, Doc and Oz engage in a candid and reflective conversation as Bitcoin breaks the $100k milestone. Doc starts with a humorous reminder to "take off your laser eyes and chill," setting a relaxed tone for their deep dive into personal investment journeys during the last bull cycle.

Doc and Oz create a laid-back and transparent atmosphere, perfect for listeners who appreciate a mix of banter and honesty. They introduce the episode’s main topic: sharing the worst altcoins they invested in during the last bull run. Their aim is to impart valuable lessons to help listeners avoid similar investment mistakes.

The hosts explore the market conditions of the previous bull cycle, emphasizing the overwhelming hype, emerging trends, and the emotional highs and lows that led many, including themselves, to make questionable altcoin investments. Doc reminisces about the NFT frenzy, recalling purchases like $1,000 worth of NFT boxes with AP images and quirky items like Jimmy Choo shoes NFTs. Oz shares his experience with the KOI metaverse, where he invested in what he thought was a rare KOI fish NFT, only to discover it wasn’t the valuable asset he had hoped for. They both reflect on the intense pressure to follow the crowd and the fear of missing out that often drives impulsive decisions.

Doc and Oz take turns recounting specific altcoin investments that didn’t meet expectations. They discuss notable projects such as XRT, XOR, Polkadot, KUSAMA, and MATIC, detailing how aggressive marketing, influencer endorsements, and the allure of early adoption influenced their decisions. Oz highlights the significant role of influencers and early Telegram groups in shaping their investment choices, often leading to FOMO-driven purchases. A standout example is their investment in RWA, motivated by a guest’s appearance on their podcast, which ultimately led to disappointing results. They openly discuss the duration they held these investments, the profits or losses incurred, and instances of rug pulls that made them reevaluate their strategies. Through these stories, Doc and Oz identify missed red flags and share the crucial lessons learned, all while maintaining a lighthearted and relatable tone about their "degen" days in the crypto market.

Thank you for tuning in to Ep. 72 of Crypto Unplugged!

Date of podcast recording: Thursday 5th December '24
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