4 ms·
Why are people buying tokens they don't understand? Did the author tell people to buy these tokens like in some pump and dump scheme?
by tedunangst 6y ago
Why are people buying tokens they don't understand? Did the author tell people to buy these tokens like in some pump and dump scheme?
- rootsudo 6y agoSpeculation, profits and the promise of someone they follow on the internet via a Telegram group, specific imageboards or forums such as this one. We're just lucky we're on the other side of the looking glass with an interest to learn, understand and expose then just trusting a magic money machine which, many, many, crypto groups prey on.
- jl2718 6y agoYou may be severely underestimating what it takes to ‘understand’ a token. It’s like blaming website visitors for JavaScript privileged execution exploits.
- tedunangst 6y agoMaybe we could reach out to the sandwich dealers and ask them what they thought the token did when they decided to trade it. I think that would help us reach a fuller understanding of the situation.
- jl2718 6y agoWhat does the USDC token do? Presumably they thought that they would receive the exact number of tokens that the Uniswap Router sent to them. Most of these defi tokens do absolutely nothing except force you to trade them back through a deflationary AMM for whatever token you actually want.