Gotrilla on fomo and memecoin risks
Gotrilla is dropping some hard truths for anyone looking to jump into crypto, and the first rule is actually about patience. He tells new traders to use fomo as a method for trading on any blockchain because it's one of the easier ways to approach it, but he immediately follows that up by saying you should watch market activity rather than trade right away since crypto doesn't support paper trading. The reality is that trading requires near-continuous availability, particularly for memecoins which are highly volatile, so if you can't do it 24/7 almost then you shouldn't be doing it at all. Gotrilla admits to feeling regret after providing trading ideas to friends who lost money, noting that people get rug constantly in this sector and he gets rugged himself often enough to know better. For close friends especially, seeing them lose cash hits hard, which is why he warns that if you can't really put your time in on memecoins don't even start because without that commitment you're just going to lose money.
Transcript (en)
be paid by this, but I tell them to use FOMO now, to be honest. It's like one of the easier ways to like trade on any chain. But at the same time, I tell these guys, watch, don't trade yet. Just like you can't pay for trade. Can you pay for trade with crypto? I mean, with me, I don't think so. I don't think they have anything for that. I mean, there are ways. I don't know if there's like, if there's a perfect solution, but there are ways. Yeah. So I tell them like right now, just look at the stuff right now, man. Don't trade. Honestly, I tell these guys, man, trading is not for people if you can't do it 24-7 almost. Especially meme coins. I'll tell them meme coins because it's too volatile. Because I have some friends that I gave some place to, and I personally feel bad when people lose money, especially my close friends. Like, bro, people get rugged. I get rugged constantly. So for meme coins, I tell these guys, man, if you can't really put your time in on this, don't even do it at the end of the day. Because without that, you're just going to lose money. to be completely honest. How long?
