Comment on Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out
Warl0k3@lemmy.world 11 months ago
What in the good goddamn does that headline mean. I’m not old enough to be this baffled.
Comment on Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out
Warl0k3@lemmy.world 11 months ago
What in the good goddamn does that headline mean. I’m not old enough to be this baffled.
Moonrise2473@feddit.it 11 months 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
stoy@lemmy.zip 11 months ago
What a massive waste of resources.
WHYAREWEALLCAPS@kbin.social 11 months ago
Crypto in a nutshell right there.
stoy@lemmy.zip 11 months ago
Oh yeah, millions of computers calculating the next lucky useless number that an algorithm has decided is valuable.
It madness…
maynarkh@feddit.nl 11 months ago
Who the fuck is buying these? Who is the counterparty to this idiocy?
Moonrise2473@feddit.it 11 months ago
Other idiots with FOMO
MonkderZweite@feddit.ch 11 months ago
Why does anybody want that coin?
Moonrise2473@feddit.it 11 months ago
it’s a meme coin so apparently it gives 100x value
Neato@kbin.social 11 months ago
I remember when doge coin was a joke and was worth nearly nothing. sigh
Voroxpete@sh.itjust.works 11 months 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.
Moonrise2473@feddit.it 11 months 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
Voroxpete@sh.itjust.works 11 months 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…”
Moonrise2473@feddit.it 11 months 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.