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Let's see it another way: there's absolutely no way that in the 2-3 hours the post was up a person not familiar with the gamblecoin ecosystem could purchase $LI

Let's see it another way: there's absolutely no way that in the 2-3 hours the post was up a person not familiar with the gamblecoin ecosystem could purchase $LIBRA, let alone pour thousands of dollars in. The people who lost money are all professional memecoin gamblers, and the ones who pocketed in are obviously connected to the project leaders. Cyptobros want to have unlimited freedom to trade whatever they want without regulation, which is fine for me, but then they shouldn't whine when/if they are rug-pulled. For all the outrage, I yet have to see a single person in Argentina produce a TXHASH that proves they put money on the project. This is not something you can just log in on Binance and buy with cash in a single click. Meanwhile, states operate their own lotteries and casinos (e.g. "Lotería de la Provincia") where the poor and hopeful go to pay a tax on their ignorance. Of course, the president and his advisors are responsible for not investigating enough and blindly trusting these so-called "businessmen". We'll see what the Law has to say about that, but I remind you that Argentina is a place where a vice-president tried to steal a company (look up Ciccone Calcográfica). Last, the 4.4B number looks huge, but that is just "market cap", i.e. valuation extrapolated to the total supply of tokens, and not the actual amount of money that went into the coin.

mhmmmmmm 2y ago
> This is not something you can just log in on Binance and buy with cash in a single click. You would've definitely been able to buy it with cash and a few clicks, for example using moonshot. (And I'm sure a couple other / similar platforms)
- djtango 2y ago
  The point is the window to buy was 2-3 hours: you had to be ready to trade, and watching either charts or being on a discord or actively checking X and with cash in an account. People lost money but I doubt there was much collateral damage
  - guax 2y ago
    Though I agree that the damage will be limited I don't think it would be very concentrated on people paying attention. Considering notifications get pushed and heavy use of large group chats is common in south America does not take much for it to be promoted to laypeople by the more active followers of Javier. Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments.
    - jcarrano 2y ago
      Older people have their USDs in hard cash and will wait hours at the bank each month to withdraw their pension in cash (i.e. not even use the ATM).
    - gus_massa 2y ago
      > Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments. Older people have seen one hyperinflation, a few high inflation periods, sudden jumps in prices, perhaps two or three bank runs followed by confiscation of the deposits exchanged for long term bonds, and I may be missing a few "interesting" events. They don't trust anybody anymore.
masijo 2y ago
>For all the outrage, I yet have to see a single person in Argentina produce a TXHASH that proves they put money on the project. So, it's OK to participate and promote a memecoin rugpull if they're not from your own country?
- jcarrano 2y ago
  No, it's not OK, but I also don't think a president has any responsibility towards gamblers in the US or China. Also, "I invested because the president of a random country told me so" is a pretty bad excuse for losing money.
ranyume 2y ago
> For all the outrage, I yet have to see a single person in Argentina produce a TXHASH that proves they put money on the project. Normally people here (arg) don't follow politicians they don't like on X. It's probable that most argentines that put in any money were his own followers. Among those, there were very well known influencers that actually did complain about the whole issue saying they lost money but they later deleted their posts (Fran Fijap, for example). I agree that a very sizeable portion of people that "invested" seem to be foreigners, though. Milei's governmental structure is a very vertical one, they even expect para-official influencers to not criticize anything the government does.
- the_af 2y ago
  In fact, people who criticize Milei or deviate from what he considers the norm, however mildly, get thrown out of government (see: Ramiro Marra). He has a troll farm run by influencers who will ostracize anyone who criticizes Milei. It's very likely Fran Fijap was told by them to delete his post "or else"...

mhmmmmmm 2y ago

> This is not something you can just log in on Binance and buy with cash in a single click. You would've definitely been able to buy it with cash and a few clicks, for example using moonshot. (And I'm sure a couple other / similar platforms)

djtango 2y ago
The point is the window to buy was 2-3 hours: you had to be ready to trade, and watching either charts or being on a discord or actively checking X and with cash in an account. People lost money but I doubt there was much collateral damage
- guax 2y ago
  Though I agree that the damage will be limited I don't think it would be very concentrated on people paying attention. Considering notifications get pushed and heavy use of large group chats is common in south America does not take much for it to be promoted to laypeople by the more active followers of Javier. Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments.
  - jcarrano 2y ago
    Older people have their USDs in hard cash and will wait hours at the bank each month to withdraw their pension in cash (i.e. not even use the ATM).
  - gus_massa 2y ago
    > Older people particularly at risk given the excessive trust they give to people In position of power, knowledge of technology and readily available savings in USD on non savings accounts or investments. Older people have seen one hyperinflation, a few high inflation periods, sudden jumps in prices, perhaps two or three bank runs followed by confiscation of the deposits exchanged for long term bonds, and I may be missing a few "interesting" events. They don't trust anybody anymore.

masijo 2y ago

>For all the outrage, I yet have to see a single person in Argentina produce a TXHASH that proves they put money on the project. So, it's OK to participate and promote a memecoin rugpull if they're not from your own country?

jcarrano 2y ago
No, it's not OK, but I also don't think a president has any responsibility towards gamblers in the US or China. Also, "I invested because the president of a random country told me so" is a pretty bad excuse for losing money.

ranyume 2y ago

> For all the outrage, I yet have to see a single person in Argentina produce a TXHASH that proves they put money on the project. Normally people here (arg) don't follow politicians they don't like on X. It's probable that most argentines that put in any money were his own followers. Among those, there were very well known influencers that actually did complain about the whole issue saying they lost money but they later deleted their posts (Fran Fijap, for example). I agree that a very sizeable portion of people that "invested" seem to be foreigners, though. Milei's governmental structure is a very vertical one, they even expect para-official influencers to not criticize anything the government does.

the_af 2y ago
In fact, people who criticize Milei or deviate from what he considers the norm, however mildly, get thrown out of government (see: Ramiro Marra). He has a troll farm run by influencers who will ostracize anyone who criticizes Milei. It's very likely Fran Fijap was told by them to delete his post "or else"...