101–110 of 139 posts
I believe in crypto, I think it will even protect people online when done right. And not everything is scam, there are good projects. That being said the behavior of people and organizations in crypto is poor and will slow adoption. I still regularly see major crypto ecosystems rug pull their own developers. They simply can’t help themselves.
Let me know when you see it done right.
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Wash trades mostly, then it is just a matter of finding some suckers to bite before you pull the rug. $1.4M is a lot to you or me, but in the world of big money it is pocket change.
How do wash trades work in a liquidity pool derived coin? Seems like the only way to boost the coin value is to put more 'real' coins into the LP and dump before someone else does after the pump attracts more suckers.
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You can keep telling yourself that, but there's enough utility and momentum behind it that it is not going anywhere. I'm saying this as a person with no stake in the matter, just observing from the sidelines.
Tbh, I just made this comment because I thought it would be funny to use your username in it. (Doesn't mean my opinion is something else, though)
How do these scammers generate such big market caps for their coins? Offloading $1.4MM is a huge sum of money, more than 99.9% of people in the world would ever see at once.
Market cap doesn't equal what people have purchased. See this classic from 2015: https://medium.com/signal-v-noise/press-release-basecamp-val...
In order to determine the valuation of companies, Bhatnagar typically applies the following formula: [(Twitter followers x Facebook fans) + (# of employees x 1000)] x (total likes + daily page views) + (monthly burn rate x Google’s stock price)-squared and then doubles if it they’re mobile first or if the CEO has run a business into the ground before.
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This is an absurd claim since it takes a single counter-example to disprove. E.g. you can pay for Mullvad in crypto, Mullvad is not a scam. You can trade predictions on Polymarket, Polymarket is not a scam.
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You can keep telling yourself that, but there's enough utility and momentum behind it that it is not going anywhere. I'm saying this as a person with no stake in the matter, just observing from the sidelines.
How... how did he think this was going to turn out? You fake your death, then run to mommy & daddy's house, and hope no one finds you? And just keep the cash?
Criminals, by and large, are stupid. They don't think it through. They just do stuff. Most people who worry about silly little details such as "consequences" don't go into crime.
I remember being called to a dinner which was paid for (figures). A couple well-dressed but fashionable guys tried to sell a crypto that ask you play a mobile game or something to earn coins which can be converted into real crypto? or something like that. There were a couple people at the dinner I know being constantly fallen into this kind of traps, including MLM, despite their success in their businesses. Well, the…
It's interesting how often business success gets mistaken for general wisdom or street smarts. Just because someone built a profitable company doesn’t mean they’re immune to being naive or that their success wasn’t largely due to timing or luck. It’s a different skill set entirely to spot scams, especially the ones that are dressed up in just enough buzzwords to sound legit. Some people are great at one thing but totally blind in other areas of life.