Comment on Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out

Warl0k3@lemmy.world ⁨1⁩ ⁨year⁩ ago

• Moonrise2473@feddit.it ⁨1⁩ ⁨year⁩ ago

  Solana (a company that created a crypto coin) created a $700 smartphone dedicated to crypto and other shitcoins. It was a massive failure. Nobody bought it. Until they created a new coin from thin air, and gave that for free to phone owners. Suddenly everyone wanted to buy the phone as you could get $900 by getting buying the phone, getting the free coins, immediately sell them, throw the phone.

  Video review of the phone www.youtube.com/watch?v=hRSMJGs0YMg

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  • stoy@lemmy.zip ⁨1⁩ ⁨year⁩ ago

    What a massive waste of resources.

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    • WHYAREWEALLCAPS@kbin.social ⁨1⁩ ⁨year⁩ ago

      Crypto in a nutshell right there.

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      • stoy@lemmy.zip ⁨1⁩ ⁨year⁩ ago

        Oh yeah, millions of computers calculating the next lucky useless number that an algorithm has decided is valuable.

        It madness…

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  • maynarkh@feddit.nl ⁨1⁩ ⁨year⁩ ago

    immediately sell them

    Who the fuck is buying these? Who is the counterparty to this idiocy?

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    • Moonrise2473@feddit.it ⁨1⁩ ⁨year⁩ ago

      Other idiots with FOMO

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  • MonkderZweite@feddit.ch ⁨1⁩ ⁨year⁩ ago

    Why does anybody want that coin?

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    • Moonrise2473@feddit.it ⁨1⁩ ⁨year⁩ ago

      it’s a meme coin so apparently it gives 100x value

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      • Neato@kbin.social ⁨1⁩ ⁨year⁩ ago

        I remember when doge coin was a joke and was worth nearly nothing. sigh

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  • Voroxpete@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    That’s not quite the order of events. The phone always came with the shitcoin, but the price recently surged which caused people to realise that they could sell the coins for more than the phone was worth. The surge in price is probably just a reflection of idiots pumping crypto again because Tether manipulated the price of bitcoin back up to 40k.

    This is all just a brief window for whales to cash out, and it’s very likely that this memecoin will crater leaving anyone who bought these phones at a markup holding the bag.

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    • Moonrise2473@feddit.it ⁨1⁩ ⁨year⁩ ago

      Ah yes tether, the “we’re 1:1 backed by dollars, pinky promise don’t worry coin” that’s printing money at a rate that makes the Argentina central bank chief an amateur

      Printing stats: nitter.1d4.us/usdcoinprinter

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      • Voroxpete@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

        Coiners: “Fiat is bad because governments can just print more whenever they want. That’s why all my money is in Dog Butt Coins!”

        Tether: “Printer go brrrrrrrrrrrrrrrrrrrrrrrrrr…”

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      • Moonrise2473@feddit.it ⁨1⁩ ⁨year⁩ ago

        Can’t find recent stats of money printed by the argentinian central bank, but in the first semester of 2022 they printed $5 billions.

        Amateurs. Tether is printing that amount every month.

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