TheDripBuzz - Oct 26, 2022
For those who did not get the reference to the iconic 90's cult movie starring Johnny Depp and Benicio del Toro, it is a black comedy involving two journalists, a road trip, plenty of surrealism, and exorbitant amounts of hallucinogens.
Hopefully, the comparison is not completely valid, but there has for sure been some fear and loathing in the DRIP community as of late, related to the long-awaited launch of the Animal Farm v2.
"The road to hell is paved with good intentions" - old proverb
The first version of The Animal Farm was launched earlier this year but paused a short time after. I am not sure exactly why, but I guess that Forex Shark - the founder and lead developer of the DRIP ecosystem - underestimated the complexity of the whole system, and needed to make certain adjustments for it to work properly. Please feel free to comment if you know/remember why it was paused.
After this, I noticed several complaints about the way releases were managed. Although Forex was praised for his development and crypto skills, and the fact that he did not just perform a rug - he was not as much praised for his communication and management skills. It is a strange world where people get credit for not being thugs - but that's a different matter.
It seems like Forex took note of this because he later issued a statement where he claimed that from now on, nothing would be announced until it was 100% ready, just needing to "push the button", and only then would they announce the release, wait for at least one week for marketing, and then launch as promised.
The crowd was happy with the new way of doing things for a while. But as time went by, there were rumors of new launch dates, lots of FUD, and then we finally got the official big date: October 18th. And then they missed that date, and there was little or no information about what was happening. And the crowd got upset. YouTubers were pumping out videos, some were angry, and others were trying to calm people down, asking for patience.
I do understand that people get upset when they are misled. But I also think most people - especially the upset ones - are completely missing the point when it comes to The Animal Farm. They see The Animal Farm as a great opportunity to earn some quick cash. It's almost like it is inevitable. Because Forex is such a genius, right? Man, are they going to be disappointed. At least many of them.
I am planning to elaborate on this topic in another post (probably several), but let me give you the short version. I think the first law of thermodynamics is an excellent analogy to explain what I mean:
During an interaction between a system and its surroundings, the amount of energy gained
by the system must be exactly equal to the amount of energy lost by the surroundings.
In other words: You cannot get more out than you put in. This general truth applies to many areas: Mechanics, electricity, finance, and yeah, also crypto.
If this comes as a shock to you, you need to wake up. DRIP pays 1% per day. That doesn't mean, of course, that the value will increase accordingly. This is why the DRIP price keeps falling. The only way value can currently be added to the DRIP ecosystem, is by new deposits. There simply aren't enough new depositors to keep the DRIP price up.
Back to The Animal Farm. The same principle, just obfuscated by more spinning wheels. No matter how many pigs, dogs, ducks, or turtles you add to the system, the only way value is added is by new deposits.
That doesn't mean The Animal Farm won't make some people a lot of money, hell no. Some will get rich, really rich, and add fuel to the myth that everyone can. If you understand the game better than your opponents, or if you are lucky, you may end up as a winner. The remaining participants will be losers.
This is why I am staying away from The Animal Farm for now. I don't trust I will be lucky, or able to play the game with enough skill to come out ahead. This is also why I don't understand why people are so frustrated. Because chances are that when it launches - you will get rekt.
If you don't know who the sucker is - it is probably you
Believe it or not, I am quite bullish on DRIP, including The Animal Farm - in the long run. Contrary to many who are now losing confidence in Forex Shark and the DRIP ecosystem, I believe him to be a very innovative and brilliant person who, that if allowed to work in peace, will create artifacts that may even revolutionize the way we think about investing. I also think there is a reason why the brilliant scientific minds of the past were not usually known for public speaking, PR, or personal skills. This is why I would advise Forex Shark to hire a PR guy or girl for that purpose.
People also need to realize, that there is no such thing as creating money out of thin air, not even in crypto. Currently, there is only one way to add value to the DRIP ecosystem - which is through new deposits. I want to see more ways, and I know Forex is thinking the same, this is why he is planning new services:
Scratch tickets
Lending and borrowing
And probably more...
Such services will generate a very welcome external value to the ecosystem by providing utility. Scratch tickets is a proven business model that can be huge in itself. Lending and borrowing can be gigantic! Suddenly the DRIP ecosystem is no longer an impossible magic infinite machine but resembles more of a ...company. And the beauty of it is that when that happens, the redistribution mechanics are already in place. I'm talking about the faucet. I'm talking about the dog pound, the pig pen, the piggy bank, and the whole freaking unicorn farm. Not to mention that the DRIP price will actually moon - based on reality, not on fuzzy warm thoughts.
At this point, I want to be deeply invested in the DRIP ecosystem. But there is a long way ahead, and no guarantee for success. This is why I am taking the latest delay of the Animal Farm with a good pinch of stoic calm. This is not the game-changer - that lies a bit further into the future. But it is still interesting to watch, though.
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