Incredible story from @joelkhalili.bsky.social laying out just what a shit show the entire crypto world is... www.wired.com/story/memeco... - ThreadSky

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davidgilbert.bsky.social • 93 days ago

Incredible story from @joelkhalili.bsky.social laying out just what a shit show the entire crypto world is...

https://www.wired.com/story/memecoin-kid-backlash/

Comments

promotherobot.bsky.social•93 days ago

Maybe I'm missing something, but what does it say about virtual currencies that they rely on old-fashioned money to create their value? That a bitcoin's value is only impressive in relation to a paper currency? (e.g. "Bitcoin broke $100,000 today!")

promotherobot.bsky.social•93 days ago

"I'm shocked, SHOCKED, I say, that such shenanigans occur in the world of Crypto. That in a place where people seek instant riches such scurrilous behavior occurs. It makes me lose my faith in my fellow man."

berlinskyjohn.bsky.social•93 days ago

📌

berlinskyjohn.bsky.social•93 days ago

A great story!

fitzstartz.bsky.social•93 days ago

At first,
"...memecoins, a type of cryptocurrency with no purpose or utility beyond financial speculation"

But then,
"...giving the tools for users to see if a coin is legitimate or not"

fuzzyjackal.bsky.social•93 days ago

I'll never understand the motivation of those who buy these "meme coins". A fool and his money I suppose

superpixels.bsky.social•93 days ago

Crypto is that game at the arcade with all the coins piled up and little things that push them forward and you drop a coin in hoping the coin avalanche will happen but it never does

votenanocratic.bsky.social•93 days ago

The child is my hero now.

adrianburt.bsky.social•93 days ago

Maybe Satoshi had some actual principals when he made BitCoin but at this point all crypto is a pump and dump. If you're buying a new meme coin you're a sucker.

inclusionchick.bsky.social•93 days ago

📌

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