It’s not like this kid is a health insurance CEO.
Comment on Teen creates memecoin, dumps it, earns $50,000
CosmoNova@lemmy.world 1 month ago
“Earns”
cabron_offsets@lemmy.world 1 month ago
PriorityMotif@lemmy.world 1 month ago
Is defrauding crypto investors really that may though?
lurch@sh.itjust.works 1 month ago
if he mined the coins at home, he basically traded electricity his parents paid for. idk where they mine on this platform tho
conciselyverbose@sh.itjust.works 1 month ago
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.
x00z@lemmy.world 1 month ago
Better words to use here:
conciselyverbose@sh.itjust.works 1 month ago
It’s none of those.
There is not, and never was, any belief or expectation that there was any path to resembling an actual currency. The entire market is shitty gambling hoping you’re the one who times their sale correctly.
9point6@lemmy.world 1 month ago
I see where you’re coming from but then you could easily headline this as “Teenage con man scams $50k”
Just because some people are gullible, even if they’re also often shitty people, it doesn’t mean they deserve to be scammed
conciselyverbose@sh.itjust.works 1 month ago
What promises did he make?
Selling something that has no value for money to people who know it has no value isn’t a scam.
ZapBeebz_@lemmy.world 1 month ago
As someone who has basically come to see “memecoin” and “scam” as synonyms, I have a hard time having any sympathy for anyone who puts money into this shit. Everyone knows that the endgame of every memecoin is for the creator to walk away with all the profit, right? Enough incidental people win a bit of money to keep everyone gambling that they can beat the scam, but everyone has to know that they’re feeding the scam when they buy in, right?
givesomefucks@lemmy.world 1 month ago
Scammed
Obviously.
The entire purpose of crypto is a scam. People buy it only because they hope it will later be worth more and they can sell it. Even tho the act of selling it lowers the price especially if they have a lot.
You’re saying it’s right because it’s working as intended and legally it’s not prohibited.
Other people say it’s a scam because they’re putting their personal morals over the law. That’s textbook antisocial behavior, and not always a bad thing. The French resistance in WW2 were antisocial, MLK was antisocial, Occupy was antisocial.
It can be bad too, like the KKK or the people from 1/6
But when the majority of a society is antisocial (doesn’t matter good or bad ways) that society is usually fucked.
And this week just gave a pretty good example that a majority of people put their personal morals above societies laws.
At a certain point, the people change societies to match their morals, the opposite is always temporary.