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Jilt 🎩 pfp
Jilt 🎩
@jilt
So I was working on the /lum MVP this morning and suddenly the reality of solana's sniping bots trespassing to basically all evm chains has hit my frontal lobe hard. Meaning that I understood why I am not earning from memecoins on base anymore. I'll tell you a story to explain that because I'm not a techie. ⬇️
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@jilt
I know this guy that made quite a bit of money with a trading bot 20 years ago, the bot had all the components of projects like maestro, copy trading, sniping, auto buy etc, all traditional markets bots work like that, he lost all his money while the market went down and stopped trading. The point is, that kind of automated bots do not really make predictions, they work on copying, which is a way of enlarging the impact of any market fluctuation, without really caring for the reality behind it, it just makes everything LOUDER even when it's false.
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Jilt 🎩
@jilt
The high fluctuations of crypto markets right now may be very well due to these kinds of actors, that started being useful with the introduction of pump.fun etc... 4 years ago you find think of the community and the value to store and then you launched a token, now you launch and then build around it, this is the perfect ground for sniping bots.
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Jilt 🎩
@jilt
But then again, what's new? A part from the fact that we transfer a problem that was on the traditional markets to crypto markets denying the value of what defi really is
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