Update on $OIL

I’ve been in contact with the dev since the very start and managed to get a solid entry because of that. He was in many high value groups, had a good track record, and there was genuinely no real reason to doubt him. He seemed to be doing everything he could to push this to 10M and beyond, or at least that is how it was presented.

I trusted him. I truly believed this could turn into something similar to White Whale, where the team or dev controls a large portion of the supply and uses it responsibly to build something big.

But this is crypto. No matter how good everything looks, people can still walk away at any moment.

I honestly thought this one was going to do much crazier numbers.

That said, I do not see this as a devastating loss. From the original call it was a 10x. I took initials and profits, just like everyone should. I still hold a bag just in case, and that part matters because it shows I believed in it beyond a quick flip.

What hurts is seeing a project with real potential get thrown away. But this is crypto in a nutshell. You cannot fully trust anyone. We are all strangers to each other.

Going forward, I will do a better job at emphasising when a team has major supply control. I will keep reminding you of it and clearly communicate the risks that come with that, because I do not feel like I stressed it enough this time.

Let’s keep our eyes forward. We learn, we adapt, and we catch the next runners.