What I've learned from this article is that I should be creating memecoins because people are very gullible.
I've been considering it tbh... And I know what my target audience would be even. I just don't know if I want to actually go through with it + if I do, I have to buy Monero with it or something so I could launder it, then somehow explain to the tax authority that I've suddenly got a bunch of crypto I'm selling... Though the last part might not be too bad, as long as I do TELL them that I'm selling it and want to pay taxes on it.
Yeah, the tax man doesn't care how you got it, just that they get their cut. Just don't be stupid and not declare that income... They will know.
And then internet trolls briefly pumped the coin again so the kid will always feel like he missed out on $3M.
Cryptobros and day traders are indistinguishable from compulsive gamblers
The Hawk Tuah coin scammed millions to their insiders, and they were rudely unapologetic about it afterward. They lied about everything they promised their "fans". I cant believe such theft is not illegal
"Do you have the slightest idea how little that narrows it down?"
Yalls remember squid game coin?
"Earns"
IDK what you want to call it.
It's silly to get mad at the kid for selling a shitty meme coin people were willing to pay for when that's the whole reason they exist.
Just "Gets" would be fine
enough people automatically buy into every coin created, a couple bucks here, a couple bucks there, hoping one will take off, that's where this 50k bump earnings, and the millions in valuation comes from. kid invested $300 buying a stake in his own coin, he could've lost it. he didn't.
Isn't this the basis of how all cryptocurrency work?
When you think about it .... isn't this also how all money works?
Ya, it's all about trust.
I trust the EU to manage the Euro, a meme managing a shitcoin not so much 😋
Money is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else.
As such, money coined by a state has an inherit value as long as the state is stable.
And said state has both an interest in the stability of the currency as well as tools to influence it that are not available to everyone.
technically yes, difference is one is backed by a nation state, the other is backed by a teenager...
"My shitty attempt at being a venture capitalist didn't pan out and I'm angry at the guy who took advantage of my desire for a get rich quick scheme"
For the people in the article complaining:
Play stupid games, win stupid prizes.
Don't invest in meme coins.
This is a most excellent place for technology news and articles.
