Unsurprisingly, he and his family were doxed by angry traders.

Unsurprisingly, he and his family were doxed by angry traders.

  • sunzu2@thebrainbin.org
    125·
    17 days ago

    You blaming the victim… Look up how fraud is defined under your state’s law

    Sure idiots getting punked is cute. I know that government doesn’t give a fuck about financial crimes unless you fuck over the rich

    But the intent to defraud here is pretty clear.

    As if the state won’t enforce its one laws, looks like the people might

    All good by me if parasites get wacked lol

    • alphabethunter@lemmy.worldEnglish
      101·
      17 days ago

      Let me tell you why this isn’t fraud:

      1. Teens makes a memecoin on a legit crypto platform (as legit as they can get)

      2. Teens buys X amount of his own memecoin for 350 bidens

      3. People that like to invest on memecoins (aka idiots/gamblers) bought into the coin

      4. Coin value goes up

      5. Teen sees that the X amount of coins he has is now worth 30k

      6. He sells it on a legit trading platform, cashes in on 30k

      7. Because he sold a huge amount at once, market is flooded, coin goes down in value

      8. The other gamblers that were looking into doing the exact same shit got mad at him

      I’m not saying crypto isn’t a scam, as memecoins are textbook pyramid schemes (buy in early for low, sell as soon as it’s worth it cashing in on the idiots who bought late), but the way this works can’t be defined as fraud because it’s simply how the whole stock market works.

      • sunzu2@thebrainbin.org
        215·
        17 days ago

        can’t be defined as fraud because it’s simply how the whole stock market works.

        Yas 🐸