How does this still work? The entire point of using fame or name recognition to put out a cryptocurrency is a rug pull. The only difference between me printing out my own paper currency called radio_free_asgarthr bucks and a meme coin is that one uses computers.
IDK, I am starting to think that efficient market hypothesis is bullshit.
everybody knows it’s a slot machine and they’re trying to pull the lever at the perfect time to cash out right before the rug pull
I mean, on some level, I do understand. Since it is purely speculative with no use all of crypto is just hoping that you can cash out at the right time to not be the one holding the bag. But all of the celebrity coins are always rugpulls that have their first crash over minutes or hours, so I don’t understand people buying into that believing that they will sell 20 minutes from now for a profit, versus the risk of being the vast majority that is the bag holder. With something like the Trump related cryptocurrencies I can understand, as that is a fig-leaf for direct bribery and a Trump Coin would have other value related to that. But an Adams Coin?
I mean, I’m not a gambler, but to me it just seems like any other gambling habit. Some people gamble just to gamble. I can’t imagine there are that many people who really think it’s going to be a solid investment or ever become a legitimate storage of value in the long term.
Other than such crypto tokens, there are HYIPs (basically pyramid/ponzi scheme, pyramid since some have mlm aspect to it).
There are people who buy into many of these at once knowing it’s fraudulent hoping they get to be the winner before the whole thing falls apart. They hope one is enough to make up for losses of others.
HOW DARE YOU.
I think your comment is a personal attack on me and $InevitableSwingCOIN which shall be making its debut shortly. A few bad apples exist in any enterprise. Some of us do things the right way.
$InevitableSwingCOIN • Crypto done right
works with corruption too. For example he did stuff that benefited some company, this company then buys meme coin through unofficial channels.
I could just be money laundering
Removed by mod
blockchange you can believe in1 hour ago lmao:
Update: Eric Adams has just removed the whole liquidity pool of his new memecoin: a total of $3,430,000 USDC pulled out.
https://hexbear.net/comment/6825949
Lmao. Steal their money, champ. [6 hours ago]
Comrade Adams, you’ve done Hexbear proud.
My cynicism failed me yet again by a vast degree. I thought the grift would last at least many months.
I wasn’t prepared for him to be this good, but we gave our funniest mission to our silliest soldier for a reason.
A trick, or a couple of lobby groups thanking him for his service?
Ohhhhhh, that actually makes sense
i get that this was probably bribery. what i don’t get is hawk tuah coin. a bunch of idiots buying fake merch from a woman who did NOT understand that shit. i understand why so many people are mad: she’s a woman and she put her face on what might be described as a scam if you’re stupid. what i don’t understand is who bought it to begin with. why would they do that?
everybody - not the majority, everybody - knows it’s a scam. they’re just hoping they’re going to be on the right side of it, offloading their worthless shit to the incoming rubes.
of course you’re right. but still, who the hell is paying the extra hawk tuah fees the incels got so mad about?
Questions
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Is a meme-coin rug pull a common thing for meme coins?
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Are rug pulls routinely done with other forms of crypto too?
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