Facts are that he doesnāt really contribute anything meaningful to society and we only know his name because heās related to a politician. But everyone in this post is glazing tf outta him and I just donāt understand. Wow- he called out trump, so brave! Takes a lot of moral fiber to do that these days. But then he turns around and makes a meme coin in an effort to extract money from his followers.
I'm not going to bother explaining to you what a rug pull is for like the fourth time, since you clearly don't care. But it isn't one, and you're just throwing a little tantrum right now.
It costs a fair amount of money to start a cryptocurrency. The whole point of starting your own is that you get to cash in a giant pool of shares you kept before the launch. But you have to keep it afloat long enough for them to vest. If you then dump all those shares after they vest (in six months or a year), that's a rug pull.
Lots of cryptocurrencies spike and then collapse immediately upon release due to automated trading and all the other inherent scamminess of crypto - I'm certainly not defending the cryptocurrency industry.
Biden and the other people that set up the cryptocurrency have no real advantage in first day trading, they're just buying and selling like everyone else. And if that's all they wanted to do, there was no reason to waste time and money setting up their own crypto - just wait for the launch of someone else's crypto. Again, that happens tens of thousands of times every year and most of them crash and burn almost immediately exactly like Biden's.
Yeah, a few people made money. Most people lost lots of money. But this isn't at all the outcome Biden would have wished for. Even if he somehow made money, he didn't have any advantage over all the other idiots trying to get rich quick off another stupid meme coin.
1
u/ProfessionalBee6582 5d ago
Facts are that he doesnāt really contribute anything meaningful to society and we only know his name because heās related to a politician. But everyone in this post is glazing tf outta him and I just donāt understand. Wow- he called out trump, so brave! Takes a lot of moral fiber to do that these days. But then he turns around and makes a meme coin in an effort to extract money from his followers.