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This is a big deal

Why are #SafeMoon holders still holding after the CEO was indicted for fraud and is currently sitting in a jail cell? I am fascinated by this topic -- because the notion that there are actually people out there still shilling the project requires a certain suspension of disbelief. Let's dive in: I'll start first with the "sunk cost fallacy." Probably the biggest factor, IMO. It's a huge psychological barrier. Acknowledging that the game is up would mean coming to terms with financial loss. It's human nature to hold onto hope when money is on the line. "Don't fud my bags!" Second, a "fortress mentality." The token has had a long life, so for many, SafeMoon isn't just a token; it's part of their identity, a club where everyone speaks the same language of potential and perseverance. It's the chats they hang out, the tweets they interact with every day. They're part of the in-group. In cases like this, criticism from the outside tends to strengthen the bonds on the inside as they go on the defense when they're "under assault" by fudders (who are the common enemy and must be silenced at all costs). Third, there's the "information bubble." On X/twitter, for example, there's a huge echo chamber of SafeMoon followers following SafeMoon followers. These people create and consume SafeMoon-oriented content day in and day out. This closed-loop filters out negativity and amplifies the positives, no matter how ridiculous or speculative. Fourth, the "charismatic leader." John Karony is a complex character, but in my opinion, he could be distilled down to someone who possesses superficial charm. Get him in front of a microphone and he'll speak technobabble at you that, upon closer inspection, rings hollow with empty hype and lofty platitudes. John has worked VERY hard to create an army of those with unwavering loyalty. He paints challenges as temporary hurdles on the road to world-changing triumph. This narrative of the underdog leader -- battling against an oppressive system that doesn't understand innovation -- is part of the story that John sells. Firth, "hope." Hope is the lifeblood of crypto investment, coupled with the lore of sudden market rebounds and rags-to-riches. It's not just about greed, it's also about not wanting to miss out on the "what if" of a dramatic recovery. Some people are conditioned to buy when the charts are down. Unfortunately, that's only an effective strategy if the charts actually *do* rebound. It's possible to DCA down to zero if the asset is doomed to fail. Sixth, "misinformation." Let's be real: control of the narrative plays a role, and this narrative is and has been seized very effectively by SafeMoon influencers. Some of the most prominent advocates for SafeMoon have (unethically, in my opinion) intentionally created/perpetuated rumors/hints that big things are coming. A strong community narrative, even if it's based off of complete bullshit, can override even the most glaring of red flags. Lastly, skepticism toward "the establishment." The legal system's wheel grinds slowly, and until it renders a verdict, there’s room for doubt. "Innocent until proven guilty," "until there's a conviction, why trust the feds?" and "they just listened to the fudders!" Heck, for some, the indictment might even seem like a badge of honor -- a sign that SafeMoon is important enough to be targeted. "No news is bad news" or "now SafeMoon is really on the map!" or calls of "Free John!" I can’t help but be critically astounded by the resilience of belief that persists in the face of an overwhelming harsh reality. It's a social phenomenon that merits discussion -- especially considering the once-promises of nanotechnology-coated wind turbines that would create a mesh-network for the unbanked in the Gambia. The CEO may be behind bars, but the faith in SafeMoon is out, walking the streets, unabashed and still unshaken. This level of commitment (or defiance?) in a project that's been hit with such a significant blow is something you’d expect to see in a cult classic, not a cryptocurrency. Why do #SafeMoon holders still hold? Is it strategy, fantasy, or something else?

$TURBO contract renounced! 📹screen record👇 💛💪🐸

Gauging the public’s interest + experience level. Would you, personally, want to learn how to program smart contracts in solidity? NPE = No Programming Experience HPE = Has Programming Experience

@Lukewearechange @elonmusk Why not both?

@elonmusk We are either in a mass awakening event or total collapse of society

The woke mind virus is either defeated or nothing else matters

@EmpMoneyBSC @valibots Sweet space name!😎👌

THIS FRIDAY!! Catalina NFT Mixer Hosted by ValiBots 🥳 🎁 Want to win a 150 EMP? 🎟️ Follow @valibots & @EmpMoneyBSC 🎟️ Like, RT+Tag 3 🎟️ Join the space! (Must be present to win) 👇👇 twitter.com/i/spaces/1OyKA…

Happy Thanksgiving! Wishing everyone a safe and happy holiday!

@thejackiedutton Loves it!!!

ICYMI, uNews broke it down as everything was breaking down on #ftx and #sbf

@rebeccagrants Hey Rebecca come join our space @CryptolinaWM one of these Sundays. 8pm EST. We know how much you love football, let’s talk about that, crypto, NFTS, and maybe we can learn a thing or two about your day to day. ✌🏽🤓

@rebeccagrants @xTacoHeadjpg That would be an awesome time. 😁

1/ 🤩 The Moonbeam/@MoonriverNW community waited patiently for the Quest 3 NFT minting, which took place earlier this week. Now, as announced in the Illuminate/22 Closing Party, 5️⃣ lucky NFT holders will be chosen by random number generator to receive Moonbeam Swag! Read on 👇

Freedom Fridays …

“What are the added benefits of cross-chain? Well, obviously the benefit is cooperation & partnerships w/ collections on other chains so all the NFT projects can play together in a game. I think we're going to see many features that don't exist." -@MrTin2233 at Illuminate/22⚡️

Set a reminder for my upcoming Space! twitter.com/i/spaces/1zqKV…