Unsurprisingly, he and his family were doxed by angry traders.

    • conciselyverbose@sh.itjust.works
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      5 days 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.

      • shoulderoforion@fedia.ioOP
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        5 days ago

        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.

      • Andy@slrpnk.net
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        5 days ago

        Yeah. Everyone who got mad at him is basically like, ‘Hey! Fuck you, asshole, for selling before I got a chance to sell! I wanted to do that, but you did it before I could do it! No fair!’

        Also: the coins are now with far more than when he sold. So strangely, the folks who got rug pulled ended up with an actually valuable coin and an opportunity to sell at a high price. Which makes zero sense to me. But they apparently have no reason to complain. It worked out great for everyone, somehow.

        Very stupid.

        • conciselyverbose@sh.itjust.works
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          5 days ago

          It’s none of those.

          There is not, and never was, any reasonable 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
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        5 days 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, and even if they’re also often shitty people, it doesn’t mean they deserve to be scammed

        • ZapBeebz_@lemmy.world
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          5 days 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?

    • lurch (he/him)@sh.itjust.works
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      5 days ago

      if he mined the coins at home, he basically traded electricity his parents paid for. idk where they mine on this platform tho