Summary
A teenage boy created and released three memecoins, earning over $50,000 by selling his holdings before the price crashed (“soft rug pull”).
The backlash was swift, with the boy and his family doxed and facing threats from angry traders.
While the legality of such actions is unclear, the incident highlights the risks and ethical dilemmas in the unregulated memecoin market.
Only fools use Bitcoin for shit like this when Monero exists.
Edit: To clarify, I mean for privacy and security purposes. I’ve got no intention of selling anyone on crypto lol
Ahh, there it is. I’m a fool. I don’t care what the stroke to tip ratio or whatever is on Bonero. I’m not interested in the technical wanking details. I merely wish to purchase goods and services.
I’m not investing in crypto. That’s what precious metals, the stock market, and real estate are for.
Bitcoin costs me $3 a transaction or so, everybody takes it, it’s easy.
Oh I’m not talking about that shit either but OK.
I was assuming you meant buying illegal (or quasi-legal) drugs, and in that case, using Bitcoin is very dumb.