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What is NGMI?

 

By Felix Osezua Feb 26, 2024

 

 

What does NGMI mean and where did it originate?

 

NGMI means "not gonna make­ it." People often use­ it online to talk about things that may fail. It's popular in  cryptocurrency and NFT groups, like on Twitte­r, Telegram and Discord. It describes people­ or plans that might fail because of bad or rushed choice­s.

 

Although NGMI can be found on Crypto forums, it originated and is more prevalent in NFT communities. Within these spaces, the term is often used to mock those who express negative opinions about cryptocurrencies or encourage others to make poor investment choices without conducting proper research. It's a playful yet critical way for community members to call out behaviors that could result in losses.

 

How is NGMI applied and what types of behaviors does it indicate?

 

NGMI refers specifically to people who display overly pessimistic or negative attitudes about cryptocurrency markets and opportunities. It also describes those who give investment advice to others without having a solid understanding of the risks involved.

 

For example, if someone publicly declares that Bitcoin is a fraud or doomed to fail without providing evidence, they may be labeled NGMI. The term similarly targets traders who sell their crypto or NFT holdings right before large price increases due to a lack of patience. 

 

Common examples of NGMI individuals:

 

Jim Cramer, the stock picker

 

Jim Cramer, the­ well-known CNBC personality, has deve­loped a reputation to be tagged a "NGMI". He ofte­n makes predictions about stocks and cryptocurrencie­s. These predictions often play out incorre­ctly. As a result, Cramer is freque­ntly labeled "NGMI" (not gonna make it). Many crypto investors consider Cramer NGMI and choose to do the opposite of his recommendations.

 

Closed-minded crypto commenters 

 

Those who make blanket statements opposing cryptocurrency trends or new projects tend to be dismissed as NGMI as well. An unwillingness to consider evidence supporting innovations can be a sign of narrow thinking.

 

Impatient traders

 

NGMI also describes traders who panic and sell their holdings at the first sign of a market dip rather than having faith that prices will recover or even surpass previous highs with time. This reflects a lack of confidence, or "diamond hands," that is frowned upon.

 

NGMI vs WAGMI mindsets

 

Within cryptocurrency communities, the terms NGMI and WAGMI represent contrasting yet complementary perspectives on markets and opportunities.

 

Characteristics of the NGMI mindset

 

Individuals labeled as NGMI tend to be overly pessimistic and risk-averse. They focus more on potential dangers than rewards, and may be quick to criticize new projects rather than researching them thoroughly. This closed-minded attitude could cause them to miss out on gains.  

 

Characteristics of the WAGMI mindset

 

In contrast, those embracing a WAGMI(We're all gonna make it) mentality display high levels of optimism and risk tolerance. They have faith that with patience and by backing innovations, they and others "will all make it" financially in the long run. This positive outlook may give them an advantage in identifying early-stage opportunities.

 

While neither extreme is preferable, both mindsets play an important role in cryptocurrency communities for keeping each other accountable. NGMI comments challenge overly optimistic views just as WAGMI perspectives encourage open-mindedness.

 

In conclusion, whether labeled NGMI or WAGMI, the most important thing for any investor is doing thorough research, understanding both risks and rewards, and making choices that suit their personal tolerance levels. While communities use these terms in fun, the ultimate goal is for everyone to make informed decisions that lead toward financial success in the long run. Remember to have an open yet critical mind, strong hands, and you too can achieve your investing goals regardless of any labels.