Let just start by saying I don't condone people scamming others, no matter the method.
Crypto is crypto, untold amounts of money get thrown around to any project it seems. To the point that I doubt many of you could resist if it was put in front of you. Yet somehow we are always still surprised at rug pulls.
Let me put this scenario to you
You're a new developer or just eager learner that launches a shitcoin with more promises then lines of code. I'm not saying you have any ulterior motive other than to get into crypto.
You pitch some idea that your shitcoin will solve but with only a rough idea how it will do it. Yet randomly after Elon pisses it's symbol in the snow on twitter, you get buyers and money flowing. It against all odds becomes a bona fide hit, suddenly you have a growing cult following and a mooning price. Absolute bananas.
All the while you're still trying to turn your project into a success. Most of your buyers don't seem to care about if it works, just that you make them money.
Now here's the issue You realise that the problem can't be solved with this solution, yet if you tell anyone that, it'll tank and everyone's money including yours will be gone. You basically have the choice of going down with the ship or rugging out.
Your holdings are worth 40 million!
Would you hand on your heart really not cut and run for 40 million? I feel money corrupts, and that there is a price where you just turn. What would the price be?
This is all just a hyperthetical, yet how many of us buy into crypto not realising a massive number of crypto projects get put into that position. There's no real way of knowing a founder doesn't have a price, and that pushed in life would take it, screwing over the holders.
So on that glass breaker what do you see as a successful way projects set themselves up to prevent this sort of temptation, something to look for when researching?
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments