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I see words, yet they make no sense. (Not criticising you, but rather me) If anyone cares to enlighten someone who is very far from that scene: I’d appreciate

I see words, yet they make no sense. (Not criticising you, but rather me) If anyone cares to enlighten someone who is very far from that scene: I’d appreciate it massively.

ggm 2y ago
A kid made other people give them money for a specious investment based pretty much on the south sea bubble. They then took the money and cashed out. Some of the other people who had bought in, then made the investment temporarily worth many times more than the original, which the kid who took the money had to watch because they had cashed out. Then it went silly. Probably a few people made a lot of profit and most people didn't. Everything about this was vaguely off, criminal and bad, but one person actually made that a feature and was committing other crimes on camera until the website got worried about their liability and shut it down. Also just words. Some of them are terms of art back to the 18th century and before, rigging investment markets.
- glimmung 2y ago
  I don't think he _made_ anyone do anything, unless that's somehow a term of art?
  - ggm 2y ago
    Fair point, no coercion. Encouraged.
BadHumans 2y ago
Translation: A middle school aged kid made a cryptocurrency using a website called pump.fun that lets people create easily create a cryptocurrecny with a few inputs and a Solana wallet. He then pump and dumped that currency and made off with $30,000. This story caused more people try to create pump and dump coins doing more and more absurd things like stealing cars on livestream if people promised to buy their cryptocurrency.
- prophesi 2y ago
  He also then created an "im_sorry" coin on this site, and made a few grand rug-pulling that. Then a "my_dog_lucy" coin for an additional few grand, making $50k worth total.
  - BadHumans 2y ago
    Kid made 70% of my annual salary with a few days of memes. I made a wrong turn in life somewhere.
    - arcanemachiner 2y ago
      I guess you're just not cut out to be a piece of human garbage.
      - yongjik 2y ago
        If we have a service commoditizing fraud for middle schoolers to use, I'd say the human garbage is not the middle schoolers who push the fraud button, but those who made the button.
        nasmorn 2y ago
        I don’t understand why this is fraud. People just have stupid ideas about the depth and liquidity of the “my dog Lucy” market. I think he was just selling an entertaining live stream monetized somewhat obscurely

I see words, yet they make no sense. (Not criticising you, but rather me) If anyone cares to enlighten someone who is very far from that scene: I’d appreciate it massively.

ggm 2y ago

A kid made other people give them money for a specious investment based pretty much on the south sea bubble. They then took the money and cashed out. Some of the other people who had bought in, then made the investment temporarily worth many times more than the original, which the kid who took the money had to watch because they had cashed out. Then it went silly. Probably a few people made a lot of profit and most people didn't. Everything about this was vaguely off, criminal and bad, but one person actually made that a feature and was committing other crimes on camera until the website got worried about their liability and shut it down. Also just words. Some of them are terms of art back to the 18th century and before, rigging investment markets.

glimmung 2y ago
I don't think he _made_ anyone do anything, unless that's somehow a term of art?
- ggm 2y ago
  Fair point, no coercion. Encouraged.

BadHumans 2y ago

Translation: A middle school aged kid made a cryptocurrency using a website called pump.fun that lets people create easily create a cryptocurrecny with a few inputs and a Solana wallet. He then pump and dumped that currency and made off with $30,000. This story caused more people try to create pump and dump coins doing more and more absurd things like stealing cars on livestream if people promised to buy their cryptocurrency.

prophesi 2y ago
He also then created an "im_sorry" coin on this site, and made a few grand rug-pulling that. Then a "my_dog_lucy" coin for an additional few grand, making $50k worth total.
- BadHumans 2y ago
  Kid made 70% of my annual salary with a few days of memes. I made a wrong turn in life somewhere.
  - arcanemachiner 2y ago
    I guess you're just not cut out to be a piece of human garbage.
    - yongjik 2y ago
      If we have a service commoditizing fraud for middle schoolers to use, I'd say the human garbage is not the middle schoolers who push the fraud button, but those who made the button.
      - nasmorn 2y ago
        I don’t understand why this is fraud. People just have stupid ideas about the depth and liquidity of the “my dog Lucy” market. I think he was just selling an entertaining live stream monetized somewhat obscurely