My friend thought he had Bitcoins but actually only had stablecoins

I have a friend who trades like this: he buys Bitcoin at $94k and sells it at $100k. He then holds onto a stablecoin waiting for the price to drop back down to $94,000. In times of volatile markets, he quickly re-owns his Bitcoins. But when the market moves sideways, his money stays in Earn, earning him a measly 8% return per year. And it has happened several times that he sold at $100,000 and the price went up to $105,000 or more.

This friend of mine is, in fact, a mere speculator. He doesn't care whether he buys or sells crypto, bricks, or coffee, as he is only interested in making a profit.

This explains why so many people compare memes. It also explains why people hoard governance tokens when they will never have a say in the management of any network.

Is there anything wrong with that? I don't think so. But I think if people bought coins with the goal of understanding the projects and making profits as a result and not as the main goal, we would have a more robust market. We wouldn't have so many dubious projects and people losing their assets.

The immediate solution is conscious buying and trading. Choose your coins carefully, make profits but don't dump all the coins in sequence, as if they were disposable. It's important to have a long-term view. Don't jump from one coin to another looking for who pays the most, as this is bad for the sustainability of the cryptocurrency market as it weakens good projects and rewards fraud. $BTC