The $GREED Experiment: Subject’s Statement

This is a story about greed. In this story I will explain how I let greed consume me and how I’m gonna make sure I don’t make the same mistakes in the future.

How it all started

At some point during the last 3 days, I heard about $GREED. Even if I decided to find the original source of the hype, I completely failed to understand this was clearly a social commentary intended to make people take a step back and rethink their approach to money and emotional management.

In retrospect, it was quite obvious

How I handled it

I had no idea what this token would do. I had no idea about what the distribution would be like. No tokenomics were ever announced. I didn’t even know if I would have to pay for it or not. Still, I was ready to make public statements about doing everything for greed, just in hope that it got me something. I had no idea what it could get me. Or how much. Was I hoping to buy a house with the money I was going to make from this? Or a burger? I didn’t even think about it really, I just knew I wanted it.

Everyone else around wanted it, so it had to be good, right? No matter what Voshy was saying or quoting by this point didn’t matter, as long as the Tweet had $GREED in it.

It was actually right in front of my eyes

The actions greed made me do

I decided to do anything this dude Voshy asked me to. Statistically, I didn’t even know who this person was and I never heard about him up until this moment.

Step by step:

1. I visited a totally unknown website
2. I connected my Twitter account AND GAVE UP WRITE PERMISSIONS
3. I connected my wallet to this totally unknown website
4. I clicked a button to get tokens
5. A transaction that would look completely the same if someone wanted to drain my wallet popped up
6. I SIGNED THAT TRANSACTION
7. I tweeted and wished Voshy good luck

Mad Lads WL mint wanted the same perms, so by now I was used to this ;)

What I learned

I let greed completely cloud my judgement. Looking back at the Tweets Voshy was putting out, responding and retweeting, he was clearly warning about this behavior. And even with all the warnings, I was just too greedy to even notice.

He even wrote the guide literally telling me DON’T.

The actions I took could have had HORRIBLE CONSEQUENCES.

1. Someone could have taken complete control of my twitter account, impersonated me, use it to scam my friends or worse. And I willingly gave them my permission to do so.
2. Someone could have drained my wallet completely. And I signed the transaction that would allow them to do so.

My decisions with this in mind:

I will be more careful of my actions in the future. I will never again give permissions to my accounts without understanding exactly why and being sure it’s the right thing to do.

I will do my best to only connect burner wallets to sites I don’t fully trust, possibly even the ones I do.

I will try to not sign transactions that I don’t understand.

I will think twice before throwing money into things from now on. If a fake coin can come to the top of Twitter trending in 3 days with only one person behind it, I understand how easy it would be to create hype about any scam if someone wants to.

If the urge to ape into a shitcoin ever again gets too hard to resist, my wallet now forever keeps phone number to call and ask for investment advice.

MFer even left easter eggs

How can we do better

We are letting fomo and greed not only control our minds but also our money.

Nobody cares about the tech being put to good use, everyone is just using it as a giant degen casino. Except that casinos are regulated and in most countries the house can never keep over 15%. In crypto for some reason we keep throwing money into things where the house keeps 90%, just because one person that we heard about made the other 10% that one time.

Everyone is aware that quality means nothing compared to hype. We got used to the fact that doing research into hype levels gets better results than doing research into the actual product, project, team or tech.

This is the main reason why crypto is not even close to mass adoption. We need to understand that to the people on the outside, we look like a bunch of greedy degens.

We can do better. We have to do better.

Let these tokens that will forever stay frozen in over 50k Solana wallets remind us about this experiment and what we can learn from it.

The full Experiment report

Please remember to read the full report about The $GREED Experiment from Voshy’s perspective that will come out on Voshy’s Twitter in the next day or two. He has some crazy stories to tell from the past week. Also please forgive him for doing this, his intentions were pure. I will edit this article and link the thread here once it is out.

EDIT:

First article about The $GREED Experiment is here:

The $GREED Experiment: From a joke tweet to the top of Twitter Trending

Second article about security and privacy is here:

The $GREED Experiment: Implement better practices