Elvis Nuno on Nostr: As someone who strongly believes in the value of bitcoin as a currency, and ...
As someone who strongly believes in the value of bitcoin as a currency, and blockchain technology being the most significant technological development since the internet itself… I can only hope that this #memecoin trend dies in the same way $DOGE (aka “Memecoin patient-zero”) was meant to die when the core dev team initially abandon the project.
In the same way ICO’s stifled bitcoin and cryptocurrency’s ability to be taken seriously, with the string of scams and pump-and-dump schemes… Memecoins (by their very design) have not only created an entire ecosystem of pump-and-dump schemes, but have legitimacy to pump-and-dump schemes as they continue to be embraced and promoted on crypto exchanges, by celebrities, and even the US president himself…
In the same way ICO’s stifled bitcoin and cryptocurrency’s ability to be taken seriously, with the string of scams and pump-and-dump schemes… Memecoins (by their very design) have not only created an entire ecosystem of pump-and-dump schemes, but have legitimacy to pump-and-dump schemes as they continue to be embraced and promoted on crypto exchanges, by celebrities, and even the US president himself…
quoting note1hr2…mswn⚡️🗣️ Yesterday, David Portnoy of Barstool Sports, bought and then tweeted two memecoins, immediately dumped them, and asking if it was legal.
Today, he bought a coin called JAILSTOOL, which has hit $100million in market cap in 24 hours.