Cory Clipston’s warning to ‘shitcoin traders’ in bull market: X Hall of Flame

Corey Clipston, founder of Swan Bitcoin and proud Bitcoin expert, has a word of caution for crypto bros: stay away from the hype of altcoin season. According to him, you can spend your life savings on slot machines in Las Vegas.

“Remember that only three of the 20 to 30,000 altcoins have new all-time highs, achieved three or more years after their initial peak,” he said.

Clipston cites XRP's 2017 high that beat the 2013 high.

Perhaps the biggest hair loss for US Securities and Exchange Commission officials in recent years, the crypto XRP hit $0.06 in 2013 and rose to $2.85 in 2017.

What about the other two altcoin Phoenix? Clipston isn't too eager to praise them for their return to the top flight.

“I don't consider Dogecoin because Elon [Musk] In the year He poured it privately in 2021, but it was higher than the 2017 pump,” he says.

Clipston noted that while the BNB token is technically another candidate, it is only awarded half a point.

why? Because BNB was not in the game for the entire bull market in 2017.

“So it's actually two and a half because Binance only got half a pump in the 2017 bull market because the coin came out in the summer of 2017,” he explained.

Clipston founded the Bitcoin savings platform Swan Bitcoin in 2019. He is a hardcore bitcoin maxi with an impressive 219,000 followers.

Surprisingly, the platform does not offer memecoins, altcoins or shitcoins – only bitcoin.

“Unless you're an active Shitcoin trader, you better be fine because it's a casino,” he said, adding that the “rake” in Las Vegas casinos ranges from three to five percent, depending on the game. However, they argue that you can face the odds by backing an altcoin trading house.

“In shitcoins, 80% of the stake can be taken by insiders. And so you're in a hole. On average, these punters who try to trade cryptos are in a deep hole on all these gambles.”

How did he become popular on Twitter?

Clipston noted that his follower numbers began to increase during the last bull market in 2021 with the rise of Swan Bitcoin, which now gets shoutouts from industry heavyweights like Lynn Alden.

But Clipston admits he's gained a lot of new followers in 2022 because he's predicting which companies in the crypto industry will fail.

“It really took off and exploded, maybe 100,000 to 200,000 or something, very quickly during the crypto crash because I was right in the middle of the story.”

In May 2022, he called Luna six weeks before it crashed.

In addition, the A few weeks before Celsius nosedived in mid-2022, he got into a social media feud with former Celsius CEO Alex Mashinsky.

In May, I was fighting Mashinsky on Twitter and YouTube. In June I told everyone to get the hell out of Celsius because it was a Ponzi scheme and on June 12th it went to zero.

Oh, and for Sam Bankman-Fried, the disgraced founder of FTX, he came up with the great invention of “Scam Bankster-Fraud.”

A court has now found SBF guilty of misappropriating more than a million people's money.

It ended up in all paper magazines. “Scam Bankster Fraud is how New York magazine put it for their headline,” he explains.

What content can people expect?

Clipston says that if you follow him on X, you won't see any apology texts or slips. He says he stands by what he says and I'm 100% sure he's on point.

“If I describe something, I get the item.”

While he may occasionally pull your leg, he will always return to the thread if some people mistakenly believe it to be true.

“If I don't have the stuff, I ask questions. I'm trying to figure it out,” he says.

Clipston says he's straight-up honest, and following his food you get the feeling you know him.

“I wear my heart on my sleeve. So you get my unfiltered opinion on Bitcoin, geopolitics and macroeconomics,” he says.

He's also a fan of shooting, but that stuff doesn't hit like the orange pill stuff.

“I don't get a lot of likes for my basketball tweets, but I won't stop. If you like basketball and bitcoin, I'm your guy,” he laughs.

What content does he like?

Clipston runs an investment platform focused solely on Bitcoin, so it doesn't take an expert to make the types of accounts he follows.

“I really pay attention to the line between a fact and something you don't know for sure, as high signal Bitcoiners who have been around for a long time,” he says.

But, in retrospect, you have one chance with Clipston. Save the blur for the poker table, because if you drag that near the feed, it will probably hit that unfollowed button.

“I don't like people who claim to know something that isn't true. If you can't do math or advertise things that aren't true, you're done. I hate false narratives.”

Now, Clipston is good with vouchers for a few people who don't stumble too much, ZuckBucks CEO Giacomo Zucco, Synonym CEO John Carvalho, and Swan Bitcoin's Education Head, Stephan Livera.

Oh, and investment strategist Lynn Alden says, “Because I'm never wrong.”

Content he dislikes includes anything that distracts people from Bitcoin's mission.

“For most people, there has been a lot of fake trading from crypto over the last six years. A crypto VC worth $50 billion was issuing these coins. That's what people have to go through. They had to fight through that to get a small bitcoin token and it's really hard and most people fail.

Predictions?

In the hall's flame chair, guests often get a small hold when asking for a price prediction.

Not Clipston though – maybe his confidence is spilling over off the basketball court.

Clipston isn't shy about dropping a seven-figure price prediction for Bitcoin.

Read more

Main characteristics

Blockchain is fail-safe in space: SpaceChain, Blockstream and Cryptosat

Main characteristics

Ethereum Is Eating The World – ‘All You Need Is The Internet'

“In 2030, the price will be one million dollars in 2020,” he predicts.

After looking at price inflation, we are seeing that it could be “$1.3 or $1.4 million per bitcoin”.

Before you get too excited, he says, “there will be corrections along the way.”

Clipston says the approval of the Bitcoin ETF is a response to a chain of financial bros around the world.

“Now you have to cover your ass to the financial advisors and financial managers in the world recommending bitcoin because if it's good enough for Larry, it's good enough for me,” Clipston said.

Subscribe

A very engaging read in Blockchain. It is given once a week.

Ciaran Lyon

Ciaran Lyons is an Australian crypto journalist. He is also a freelance comedian and has been a radio and TV presenter on Triple J, SBS and The Project.