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Sup fellow degens,
Modern online video games have opened doors to trading, gambling, and investing for many people. Including kids.
It’s just easier to get into these things when it’s not just a number on the screen or an imaginary coin but something you can also use in a game and get approval from a community.
Counter-Strike is one of the best example of that as skin trading and gambling have become a billion-dollar market and legit way of generating wealth.
One of the rarest skins in CSGO ~$20,000
Unfortunately, the community of Counter-Strike skin traders are in the middle of dark times as I write this.
You could even say they’re entering the same depression phase as crypto traders.
Context
The most sought-after and expensive items in Counter-Strike are knives. They come in different kinds, colors, and patterns. Some are significantly more expensive than others depending on rarity and condition.
The most important part: you can get knives only from opening cases, and it’s a 0.26% chance. Getting a more expensive knife is an even lower chance which brings their prices up.
Quite simple:
The rarer the knives, the more expensive they are on the market.
Different knives
What’s the worst that could happen?
The recent update brought a new mechanic that lets players trade 5 of their not-super-rare items to get 1 random knife - 100% of the time.
To make things worse, you can sell that knife or trade it.
Which now means, there is a huge additional supply of knives on the Counter-Strike market…
The result
In just 10 hours the market lost $2 Billion.
Ouch
The average price of all knifes halved. And some traders lost all of their savings as they thought it was more stable than actual gold and stock market.
It’s total chaos on all subreddits, X accounts, discord servers, there are reports of people literally going to hospitals and having full on mental breakdowns.
Especially, considering that it is still a video game and many kids had expensive knives that they had been saving their lunch money to buy.
It’s now all gone. Years of grind reduced to atoms.
Nobody saw it coming. No leaks, no warnings, just an update that nuked everyone’s inventory and wiped out years of trading and gambling.
Years of holding digital knives and flexing “perfect patterns” on Twitter, gone overnight because of one patch note.
But I think from all of this degeneracy, we can get a great lesson.
Whether it’s Counter-Strike knives, NFTs, or some obscure Solana meme coin that promises to “redefine yield,” the same lesson hits every time:
Nothing is safe when the meta changes, and you will NEVER see it coming.
A new wave of degenerates is already flooding in, picking up discounted knives, betting on a rebound, or just farming content off the carnage. Laughing at those who forgot that it was in fact just a video game and not an investing portfolio.
The circle of degen life continues just on another scale.
So next time you’re staring at your portfolio wondering if it’s over, then just remember: it never really is.
It just respawns in a different game, with a new item, a new hype cycle, and a new way to lose (or make) stupid amounts of money.
TL;DR: A new Counter-Strike update made rare knives easy to get, tanking prices by 50% and wiping $2B from the market. Traders who treated skins like gold got a harsh reality check: it’s all fun and games until the devs patch your portfolio.
Stay degen,
Dima
Who is Menace Dima?
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