@MintMingle3
lol, you are so confidently mistaken about this.
Let’s not forget about the whole pump and dump talk, alright? Every coin or token that has ever existed has had elements of pump and dump. Just because something has utility doesn’t mean it’s any less so; it just gives holders a mistaken sense of being superior to memecoin traders.
If I create a coin where a handful of insiders take the bulk of the rewards, is that a pump and dump? What if I create a coin with no organization, make no profit, yet it still pumps and dumps? Does that count? If I start a coin with a few friends and we all make a small profit, does that make it a pump and dump? How much profit going to insiders turns it into a pump and dump?
Moreover, nobody believes memecoins are organized like casinos are. Memecoins can potentially be more profitable because making money requires some level of skill or knowledge.
There are no good slot machine players or good blackjack players, but there are skilled traders, and they can earn a lot from the bad traders who come here and call everything a scam.
@Eastwood
So you really don’t grasp how the creators of what you call meme coins control the price and volume behind the scenes?
MintMingle3 said:
@Eastwood
So you really don’t grasp how the creators of what you call meme coins control the price and volume behind the scenes?
heh. I’ve been a developer for 3.5 years, so maybe take a step back on this one. Newbies always have this distorted view, thinking everything is a scam.
First, if you can’t see a scam, it’s on you. And if you can see it but neglect to invest when you could, that’s still on you. I’m not defending bad developers; I’m just pointing out that crypto is about personal responsibility.
Fun fact: I introduced bundling into this space. Am I a scammer for introducing tech that people misuse? Are bundled coins scams? How much supply does a team need to sell before it transitions from taking profit to being a scam?
It all falls on a spectrum, and this space is not regulated. If you are in the world of speculative coins and you don’t understand price and volume manipulation, then that’s your issue. But you can’t label the entire ecosystem a scam just because some manipulations occur.
Some developers manipulate stats to make money, others do it for a higher market cap. But some creators believe that measuring a coin’s success means how much chances it gave holders to profit.
Systematically, the odds are against you, but not as much as you may think. Did you really believe people would just hand you daily chances for life-changing earnings without any risk?
@Eastwood
stop scamming people.
If you can’t find a real-world problem to solve better than existing solutions, get a regular job.
MintMingle3 said:
@Eastwood
stop scamming people.
If you can’t find a real-world problem to solve better than existing solutions, get a regular job.
I think I went too deep for your current knowledge level.
Speculative coins aren’t inherently scams. They are zero sum by their very nature. Sure, some people use them to cheat others.
If I introduce a coin and make no profit, does that turn it into a scam just because there’s no utility? Of course not, so…