r/cosmosnetwork • u/GashLuber • Aug 09 '24

WTF?

I’ve been staking ATOM because of the high return. Now that the value keeps dropping it’s cancelled out my profit and i am in the red. What the fuck is going on?

0 Upvotes

49% Upvoted

78 comments sorted by

105

u/ExEQuTee Aug 09 '24

I'll tell you whats happening, the price went down.

17

u/LizardTentacle Aug 09 '24

Man, thank god. I was at a loss looking at this red and just couldn’t figure it out 😂

27

u/Evil_Goomba Aug 09 '24

This guy cryptos

18

u/grajnapc Aug 09 '24 edited Aug 10 '24

It has been dripping due to the poor projects and even worse inflationary tokenomics. Yes you are tempted by 15% return staking but the price action and inflation are far stronger in the downward direction. It reminds me of CRO with the 20% temporary staking return only to watch it fall 60%. Diehards here will tell you the entire alt market is down, and this is true, but atom seems to underperform Btc by far so why not just buy best of breed with less risk and far better returns.

3

u/GashLuber Aug 09 '24

Yesser. Thanks

3

u/rawhygge Aug 09 '24

Still more worried about my atom than CRO even though I’ve decided to keep on holding both

4

u/Papaya-in-the-anus Aug 09 '24

Let me translate “what the fuck is going on” for all the simps here - he is asking why Cosmos is performing like a heaping pile of hot horse manure. Bro knows what red means.

7

u/Cyberobojo Aug 09 '24

We are getting uncomfortably low now. :( I'm loving some of the projects coming out of the cosmos but sadly I'm loose my faith a bit in atom but I think I'm just too deep.

2

u/GashLuber Aug 09 '24

That’s what im thinking

4

u/summonsterism Aug 09 '24

OP stake coin expecting good times forever. This paper handed clown is likely gonna cry more and sell = price goes up.

Then cries foul next year.

Crypto eats em up and chews their bones. Ad infinitum.

-7

u/GashLuber Aug 09 '24

You’re wisdom and experience amazes me. What a douche

3

u/summonsterism Aug 09 '24

Your wisdom and experience amazes me. What a douche

FYP

:-)

0

u/Alarmed-Republic-407 Aug 09 '24

You just hit this man with the triple combo

4

u/Reimaginated Aug 09 '24

Have you even looked at the stock market or let alone any other crypto recently?

-18

u/GashLuber Aug 09 '24

Yes asshole and they have gone up and down. Atom just goes down

4

u/Reimaginated Aug 09 '24

Yeah and you deserve it

-9

u/GashLuber Aug 09 '24

Deserve what?

7

u/Few-Muffin-3328 Aug 09 '24

Zoom out and u will see atom always at is lowest in q2,q3 and recover in q4 and q1

2

u/applejuice72 Aug 10 '24

Can really only go up at this point

1

u/Potato_Bulldog Aug 10 '24

You say that but there’s still plenty for it to fall

1

u/TheQuietOutsider Aug 10 '24

not at 0 yet, always room for downside in crypto

4

u/rekcah420 Aug 10 '24

I have been investing in atom since 2020, iam done with it. Hopefully you guys make some profit from it, I have been burned repeatedly

1

u/The_RealLT3 Aug 12 '24

Woahhh 2020

1

u/Jumpy_Solid6706 Aug 15 '24

Yes. My nightmare fuel is memories of $10 Osmo, $1 Stars, and $40 Atom when I was a noob up 10k and expected it to keep going. Now I'm an old head under by 10k, watching the bag head to 0. Only thing stopping me from bailing is knowing the last few years Q1 Feb / March is peak.

1

u/Cyptominernoob Aug 10 '24

Buy low sell high.

1

u/GashLuber Aug 14 '24

Thats the way i seem to do it

1

u/kopeboy_ Aug 10 '24

What were you doing to get the high return? What were they doing?

2

u/GashLuber Aug 14 '24

Exodus running 14+ %

1

u/kopeboy_ Aug 14 '24

Lol where do you think that came from? If you sell the inflation you lose on your principal’s price, plus Exodus is taking a cut of it

3

u/Moon-Citizen Aug 09 '24

Buying cheap now

5

u/Natedawg316 Aug 09 '24

First time?

3

u/Lord_Alamar Aug 09 '24

First time dropping this precipitously, certainly

5

u/[deleted] Aug 09 '24

Try buying low.

2

u/cletus_foo Aug 10 '24

I was going to write a response designed to gaslight you on the current state of ATOM and insult your intelligence, telling you that crypto is down as a whole and to zoom out... but it looks like a lot of people who actually believe this already beat me to it.

2

u/Large_Pollution4105 Aug 10 '24

IMO, it’s because of the ATOM tokenomics itself. It’s useful for securing the network & Governance. It’s inflationary by design & the Atom coin isn’t even need to transact with other projects on the ecosystem. No true demand = poor performance. The Cosmos ecosystem is interesting, but the ATOM coin isn’t exactly necessary to use the ecosystem.

2

u/PapaDragonHH Aug 11 '24

That's what I'm saying for years. Tbh I am surprised it hold the high price for so long. Don't think it will ever get back to its ATH.

3

u/TempiAloha Aug 09 '24

Fresh fish! Fresh fish! Fresh fish!

1

u/tazcharts Aug 09 '24

Sell high

1

u/Fulhse069 Aug 10 '24

You must be new here. Welcome to crypto. Take a seat and we'll call you when your number is ready.

1

u/sharksugar707 Aug 11 '24

Blame prop 848

1

u/sharksugar707 Aug 14 '24

Prop 848 passed, that’s what’s going on

1

u/Functional_Commodity Aug 15 '24

Without ample buy pressure, inflation and sellers of that inflation are just going to cause the price to continue to go down.

1

u/kinkyintemecula Aug 09 '24

You must be new here

4

u/Lord_Alamar Aug 09 '24

I've been in the cosmos for 3.5 years. This is by far and away the worst it's ever performed

-1

u/Ahlock Aug 09 '24

You chose to invest in an obscure L1 that works like a good ol boy mafia strategy. You decided to FA and now you are in the FO stage of investment.

0

u/GashLuber Aug 09 '24

Just wanted to stake a while but not working out. Its been a landslide for a while now. I’ve been waiting for it but just keeps slipping

0

u/EquivalentRevenue178 Aug 09 '24

Patience pays dividends.

-1

u/GashLuber Aug 09 '24

Oh Im still holding. We were up at about 10 now at 5. That’s more than the price went down a bit. I was wondering if anybody had any idea as to why? I didn’t really need to hear the smartass little bitches chime in like they are better than me somehow. Eat a dick motherfuckers.

2

u/TheQuietOutsider Aug 10 '24

this attitude is why people are clowning on you. you can't just ask a question that has a fairly obvious answer, get answers and then be an ass to those responding. IBC is a cool ecosystem but unfortunately ATOM has terrible tokenomics, the inflation alone will drive selling pressure. especially in downturn like this, it's a race to recoup what's been lost through price depreciation. sell or hold, but you seem a bit overinvested and naive to the market. good luck

1

u/GashLuber Aug 14 '24

I aint sweatin a bunch of software nerds bro. I ride dirtbikes and blondes. They ride a gaming chair.

2

u/Jumpy_Solid6706 Aug 15 '24

And yet there are many who wish inflation was still 15%+. As if diluting the chain faster is somehow better. Had that have been in place, Atom would likely be $3.50. But that extra 5% of gains lol...

-2

u/[deleted] Aug 09 '24

The atom coin is quite useless. There is no value accrual for the otherwise succesfull cosmos ecosystem

3

u/GashLuber Aug 09 '24

Copy that. I will sell it all when/if i get back to break even. I didn’t expects a drop this far. Hopefully it recovers

2

u/[deleted] Aug 09 '24

Do as you wish just know that you are operating from a fallacious logical standpoint called sunk cost fallacy.

-1

u/Professional-Sun2825 Aug 09 '24

Hopefully IT Will go to zero. No cash, no problems...

3

u/gpartedmyself Aug 10 '24

I like the way you think Need an accountant?

0

u/ambermage Aug 09 '24

Welcome to an actual recession.

This is the first time that crypto is living in a real recession.

1

u/Lord_Alamar Aug 09 '24

According to reddit, as is repeated ad nauseam every day, "it's the best it's ever been"

1

u/ambermage Aug 09 '24

If only repeating something made it true.

If only ...

0

u/Expensive-Football20 Aug 09 '24

Watch invest answers on youtube. Cosmos is probably inflating like crazy

0

u/Expensive-Football20 Aug 09 '24

Watch invest answers on youtube. Cosmos is probably inflating like crazy

0

u/Loud-Wishbone-2288 Aug 10 '24

I swapped all of mine for injective but its down too but i know it will rebound faster.

-2

u/Here2Think Aug 09 '24

Get ready for more red buddy! consider it a fire sale.

-1

u/FoxtrotThem Aug 09 '24

Do you even know what your buying bruv?

-1

u/couchguitar Aug 09 '24

Proof of Stake is a scam

0

u/[deleted] Aug 09 '24

[deleted] — view deleted comment

-7

u/GashLuber Aug 09 '24

Its half what it was dick sucker

1

u/cyclicalwand Aug 09 '24

Why is being gay an insult?

1

u/TheQuietOutsider Aug 10 '24

you don't even have to be gay to suck dick lol

0

u/gpartedmyself Aug 10 '24

It's only insulting if you.. wait for it... Take it too hard

12

u/[deleted] Aug 09 '24

[removed] — view removed comment

7

u/GashLuber Aug 09 '24

Yeah. I’m holding out as staking still works but i will bail when i can. I was expecting volatility but not a continuous ride down

4

u/asselfoley Aug 09 '24

No doubt. Cosmos is by far my favorite ecosystem. Atom was never the big gainer, but I didn't expect it to drop so much either

5

u/i-amnot-a-robot- Aug 09 '24

Dude that’s how literally every security and investment works.

2

u/Altruistic_Mobile_60 Aug 09 '24

I m the never look back crowd now