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⚡ From 0 to $7M in 72 hours

⚡ From 0 to $7M in 72 hours

PLUS: Bitcoin NFTs on 🔥 again

Alex M.
May 18, 2023

GM everyone. This is 2036, the tiny crypto newsletter with huge returns.

Here’s what we’re serving up today 🍲: this weekend, a guy named Ben made $7M in a weekend - from scratch.

What he did was pretty unbelievable, and there’s a lot we can learn from it.

Let’s dig in.

🥔 Today’s meat and potatoes

Get smarter on crypto in 2 minutes

Ben.eth wasn’t well known in crypto until he started tweeting about $PEPE coin.

We’ve talked about $PEPE before - the memecoin that did nearly 4 MILLION % in 4 days.

But Ben.eth got an even better idea: he decided to create his own memecoin.

Naturally, he called it $BEN. In a few hours, he raised 55 ETH ($100K).

Turns out - there’s someone out there who loves the name Ben even more than ben.eth: Ben Armstrong, a.k.a Bitboy Crypto.

Bitboy Crypto is a highly controversial Youtuber with over 1M followers. He’s always in the middle of a lawsuit for promoting a shitty project or dumping on his followers.

Bitboy announced he was taking over the $BEN project - and the token 10X’d.

Unfortunately for ben.eth, he didn’t hold any more $BEN tokens. Everything was sold Bitboy.

So he did was every good grifter (entrepreneur?) would do: he did it all over again.

Within a day, he announced his new coin, $PSYOP:

To participate, you had to send ETH directly to his wallet. You then had to trust he would eventually send you tokens back. Which sounds like the worst idea ever.

Don’t you just love it when someone takes your money and then says ‘don’t worry’?

But by the end of the weekend, he had raised $7 million, without:

a coin
a smart contract
a plan

Damn.

Naturally, the big winners in this are the guys named Ben - Ben.eth and Bitboy.

They convinced thousands of people to send cash to their wallets without anything.

But there are some important takeaways from this, namely that:

1/ Anyone can create a memecoin.

Yes, we mean anyone. It can take as little as 27 seconds.

This also means they’ll be used extensively by grifters.

99% of these only make the insiders rich. So if you’re not an insider, you’re what we call exit liquidity - someone an insider will dump their tokens on.

Like Bitboy. He promised not to sell his $BEN tokens for 6 months. He’s already sold them all.

Invest at your own peril.

2/ There are good and bad influencers

Crypto influencers can be divided into three categories:

The super nerds who create mind-blowing stuff
The educators who try and decipher the nerds and their innovations (that’s 2036)
The grifters who promote scammy projects, dump on their followers and are constantly trying to predict the price of bitcoin tomorrow.

🚨Unpopular opinion warning: most people worth following are on Twitter. Here’s a list of super nerds and less nerdy nerds.

Coffeezilla on Youtube does a great job of uncovering scammers too.

3/ You probably won’t make $7 million in a weekend, BUT…

You can still win BIG over time.

Bitcoin’s annual return over the last 14 years is 150% per year. Ethereum’s is closer to 250%.

And if you really want to swing for the fences, we’ll be here to guide you through it safely. After we first wrote about $PEPE, it went up another… 22X.

So strap on your seatbelts because the bull market is just about to get started.