3 ms·

0.1 ETH to $30M in 46 days

22 points by undefined1 5y ago

quyleanh 5y ago
Such a clever movement. That is beautiful of blockchain.
ayoubElk 5y ago
Can someone explain how it was done?
- px1999 5y ago
  Looks like they bought and sold the safemoon defi token (bought really low, sold [comparatively] high)
ctur 5y ago
This is inscrutable to anyone not familiar with whatever that site is and the underlying systems and terminology. Someone should write a blog post or something to explain it, then link that here so we can all be in awe, or outrage, together.
- ve55 5y ago
  Either way I think I have seen more than my fair share of 'this person got absurdly rich absurdly quickly doing absurdly little work' content recently.
reidjs 5y ago
I’m confused. At what point did they convert it from crypto to USD?
- ketamine__ 5y ago
  https://bscscan.com/address/0x8c7de13ecf6e92e249696defed7aa81e9c93931a#tokentxns https://bscscan.com/address/0x8c7de13ecf6e92e249696defed7aa8... Probably somewhere in here.
sebmellen 5y ago
Ah yes, the SAFEMOON literal Ponzi scheme. Beautiful. Number go up, number go down. But damn, look at that chart https://coinmarketcap.com/currencies/safemoon/ https://coinmarketcap.com/currencies/safemoon/. It’s one of the cleanest looking pump-and-dumps I’ve ever seen. This is not something to celebrate or condone. A lot of people who don’t know better are losing their savings trying to play along with the hype. See https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypto-influencers-speak-out-about-safemoon-pyramid-scheme/ https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypt... or https://www.benzinga.com/markets/cryptocurrency/21/04/20721328/safemoon-acquires-1-million-users-as-crypto-influencer-warns-of-ponzi-scheme https://www.benzinga.com/markets/cryptocurrency/21/04/207213... for more.
- rvz 5y ago
  Exactly. That is a text book example of a pump and dump ponzi scheme. This gives the SEC another reason, to 'protect' the retail investor by introducing regulations for cryptocurrencies. So from here, I know that a lot of investors will become expensive bag holders from this. Just like the Bitconnect scam in 2017.
- outsider7 5y ago
  Sad sad day. Cryptos need regulation bad, quickly...
  - tnzm 5y ago
    ...which would kill them. Investors need education. Which might hurt - but won't kill them.
foogazi 5y ago
ELI5: what happened here?

22 points by undefined1 5y ago

quyleanh 5y ago

Such a clever movement. That is beautiful of blockchain.

ayoubElk 5y ago

Can someone explain how it was done?

px1999 5y ago
Looks like they bought and sold the safemoon defi token (bought really low, sold [comparatively] high)

ctur 5y ago

This is inscrutable to anyone not familiar with whatever that site is and the underlying systems and terminology. Someone should write a blog post or something to explain it, then link that here so we can all be in awe, or outrage, together.

ve55 5y ago
Either way I think I have seen more than my fair share of 'this person got absurdly rich absurdly quickly doing absurdly little work' content recently.

reidjs 5y ago

I’m confused. At what point did they convert it from crypto to USD?

ketamine__ 5y ago
https://bscscan.com/address/0x8c7de13ecf6e92e249696defed7aa81e9c93931a#tokentxns https://bscscan.com/address/0x8c7de13ecf6e92e249696defed7aa8... Probably somewhere in here.

sebmellen 5y ago

Ah yes, the SAFEMOON literal Ponzi scheme. Beautiful. Number go up, number go down. But damn, look at that chart https://coinmarketcap.com/currencies/safemoon/ https://coinmarketcap.com/currencies/safemoon/. It’s one of the cleanest looking pump-and-dumps I’ve ever seen. This is not something to celebrate or condone. A lot of people who don’t know better are losing their savings trying to play along with the hype. See https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypto-influencers-speak-out-about-safemoon-pyramid-scheme/ https://stockhead.com.au/cryptocurrency/this-is-a-scam-crypt... or https://www.benzinga.com/markets/cryptocurrency/21/04/20721328/safemoon-acquires-1-million-users-as-crypto-influencer-warns-of-ponzi-scheme https://www.benzinga.com/markets/cryptocurrency/21/04/207213... for more.

rvz 5y ago
Exactly. That is a text book example of a pump and dump ponzi scheme. This gives the SEC another reason, to 'protect' the retail investor by introducing regulations for cryptocurrencies. So from here, I know that a lot of investors will become expensive bag holders from this. Just like the Bitconnect scam in 2017.
outsider7 5y ago
Sad sad day. Cryptos need regulation bad, quickly...
- tnzm 5y ago
  ...which would kill them. Investors need education. Which might hurt - but won't kill them.

foogazi 5y ago

ELI5: what happened here?