It’s a mini-saga of my own making that I’ve talked about a few times over the past year, and now it’s time to put it to bed once and for all. Here’s the final word on my misadventure in cryptocurrency “investing,” or the time I put $10 into the Megadeth crypto coin.
I talked about it originally in February after I made the purchase and I think I made a small update a bit later as the coin was on its way down but I haven’t got back to it since. As it stands today, my $10 of Megacoin is now equal to about 19 cents. The coin itself is valued at a whopping $0.008, not quite a tenth of a cent.
None of this is shocking – the crypto market was going on its freefall around the time I made the purchase. And, this was at best a boutique “currency” anyway. $Mega was not going to be the new Bitcoin, it was some crap for the fan club and not much more.
I was trying to get some other perspectives on this whole ordeal so I set out to find the place where Megadeth fans were discussing the currency. I “joined” the Cyber Army as a free member but got no access to any forum that would tell me anything. I found the band’s official Discord and there is a locked-away section for coin holders, of which I am, but the process to verify everything and join it was too much for me to bother with. I already blew my money on this trash endeavor, I wasn’t going to waste more of my time with it too.
Not getting into these forums kept me out of any discourse that people who actually hold this coin were having, but I can live without it. I also never figured out what the associated rewards were for having the coin – I’ll assume those are kept behind lock and key on the same forums that you need to have verified access for.
There hasn’t been any more publicity about the coin either, only the initial announcement and most everyone making fun of it. Megadeth did offer some NFT’s a while later and that was ridiculed into the ground, as the NFT was the source of a lot of scorn before the crypto crash.
And I figure this will be the final word on the fiasco of the Megadeth cryptocurrency. From 10 bucks to 19 cents is quite the freefall, and there’s only a bit of down to go. I can’t see any conceivable reason why the coin would suddenly shoot back up – even if crypto as a whole rebounds, there are a ton of silly currencies that were dead on arrival and I’m sure $Mega is one of those.
I am reminded of something I said in my initial post – it was something about “wiping my own ass with my money” or something like that. The sad truth is this – if I would have wiped my ass with the ten dollars I spent on Megadeth crypto? I’d still have the ten dollars.