Cryptocurrency promoted by Argentina's Milei crashes
Argentina's President Javier Milei admitted making a mistake on Saturday after promoting a cryptocurrency whose value soared and then crashed, with his office announcing an "urgent investigation".
lmaooo
I really enjoy how news organizations report on these cryptocurrency crashes as though that wasn't the original intent from the beginning.
Why would they want it to crash...?
It's a pyramid/ponzi scheme.
The people who get in on the bottom floor can secure a massive amount of the new cryptocoin at an absurdly low cost. As the coin gains more users, its valuation increases. The people who got in on the ground floor are now raking in millions in growth from the coins. Those millions are not very useful in crypto so they need to sell them back into actual currency like USD. When the bottom floor sells to get their millions in USD, it tanks the value of the coin, leaving everyone else "holding the bag."
Because the people who made the coin had such a massive amount of the coins, their sale always tanks the value and leaves everyone else with cryptocoins worth less than what they bought them for.
Because they’ve already offloaded all their crypto assets to rubes, thereby stealing their money. They aren’t holding when people realize this and it “crashes.” The same thing is happening in the US with shitcoins like $trump, $doge, and $tuah.
Don’t be a rube and let them steal your money in exchange for worthless crypto.
To monetize muppets.
I'm sure @Shardikprime@lemmy.world will post about this, right?
...right?
Lol
almost as if he is part of some scammer network. oh wait...
God, this is such a cheap scam, why every single attention whoring celebrity doing this successfully?
Because they do it with everything. Cheap inferior shitty booze that we can't sell as patron slap fucking the rocks face on it and watch it sell. Clothes that wouldn't sell because absolute trash take your pic and sell a white Walmart shirt for $300.
People, largely, aren’t very bright.
Because our psychotic monkey brains have been groomed for Millennia and longer to worship power and wealth. You or I might feel that someone holding a position based on the merit. Should be because of their expertise and experience.
Your average psychotic monkey brain however only views power and wealth as the only metrics for merit. Fundamentally ignoring and disregarding the fact that no one achieves those levels of wealth and power without being supremely disqualified for leadership and adoration. That sort of wealth is only generated from immoral unscrupulous exploitative systems. Even for example Taylor swift. You may like her. Think she does better than a lot of celebrities. And she may. But all that wealth that she has. Whether or not she did it herself was amassed through exploitation and manipulation.
That said. Unlike most others. I think Swift is aware of just how unqualified she is as influential and looked to as she is. Trying to do her best in moderating her influence. Trying not to cause more damage. But for everyone like her there are tens if not thousands of others who would gladly exploit anyone looking up to them for more wealth and power.
Milei was a con baby during the pandemic. Now he is a proven con man. Some Argentinians should be proud to watch him grow up. Others... well, we will see. For me, they are like the French of Latin America when you talk about protesting, but they seem too occupied surviving lately.
He should have invested in MELANIA. I converted all my assets in MELANIA myself.
PUTINCOIN, baby. The only coin almost literally backed by massive oil reserves. https://coinmarketcap.com/currencies/putincoin/
I would have, but I still haven't figured out how many beenz tro the MELANIA.
I preefer Barron coin. It is the future of america. That's my best advice, with the fart token.
Someone, who can stomach it, please post this on r/anarcho-capitalism or r/Austrian economics. Those morons just LOVE this guy
....Trump taking notes
Nah, he's already an expert.