4 ms·
It seems to me like Pump.Fun should just be called RugPull.Fun, and it blows my mind why anyone is naive enough to buy these memecoins.
by yosito 2y ago
It seems to me like Pump.Fun should just be called RugPull.Fun, and it blows my mind why anyone is naive enough to buy these memecoins.
- SanjayMehta 2y agoIndeed. They have no intrinsic value, as far as I can tell. I think it’s the adrenaline rush that they’re playing on.
- avmich 2y agoWhen I hear "intrinsic value", I these days want to talk about what exactly this is. Cryptocurrencies are an important invention, and it looks like it needs to go through the period of when many don't know what to do and how to deal with it. Reminds me electricity in XIX century.
- airstrike 2y ago> Cryptocurrencies are an important invention I don't think we know that for sure just yet
- mingus88 2y agoIt’s a novel invention but at this point I still don’t see how it’s anything more than a speculative gamble I stayed away from bitcoin early on because I didn’t understand the fundamentals. I spent too much time reading about P/E ratios and frankly don’t really see what exactly makes one cryptocurrency more or less valuable than any other, aside from the memes and the hype. I guess I could have “made” millions simply by the luck of knowing some folk into mining back in 2013 but I still think all this stuff is pretty worthless unless you can find a greater fool to buy your stake
- tverbeure 2y ago> They have no intrinsic value, ... Which is the case for pretty much all crypto.
- _0ffh 2y agoI think these memecoins are basically just gambling. People hop onto short lived hype trains in the hope of cashing out before they collapse.
- ryandvm 2y agoIndeed. This is just sports betting on the world series of "hot potato".
- m3kw9 2y agoYou are always wishing that there is more people buying after you and more than sellers. Is all
- BadHumans 2y agoBecause they think they are smarter than everyone else. Everyone knows it's a scam, that's why it's a meme. No one believes they will be the one holding the bag when the music stops.
- fmajid 2y agoIt’s called the Greater Fool Theory: https://en.wikipedia.org/wiki/Greater_fool_theory https://en.wikipedia.org/wiki/Greater_fool_theory
- m463 2y agoThey should buy well established NFTs instead. or possibly casino chips?
- cedws 2y agoThere are probably some clandestine algo traders propping up the volume too.