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I think the main difference is whether they are being sold as having some value behind them or not. You buy shares in Theranos or Enron and find it's a fraud yo
by tim333 2y ago
I think the main difference is whether they are being sold as having some value behind them or not. You buy shares in Theranos or Enron and find it's a fraud you have a right to be pissed off and complain the SEC isn't doing it's job. You buy fartcoin and really you can't complain to anyone because there was no expectation of anything there.
- terminalbraid 2y agoWhile I understand that, it's not trivial to unambiguously classify when something has no property of "value". It's easy to contrive your fartcoin example, but if this were universally true you couldn't use the words "memecoin" and "rugpull" in the same context (because there's no rug to pull when something has no value) and yet that is all I see. Say recently https://www.web3isgoinggreat.com/?id=milei-memecoin-promotion https://www.web3isgoinggreat.com/?id=milei-memecoin-promotio... https://www.latintimes.com/crypto-trader-shot-himself-live-x-after-losing-hundreds-meme-coin-rug-pull-his-dying-wish-576586 https://www.latintimes.com/crypto-trader-shot-himself-live-x... https://defector.com/the-hawk-tuah-memecoin-rug-pull-is-the-apotheosis-of-bag-culture https://defector.com/the-hawk-tuah-memecoin-rug-pull-is-the-... https://beincrypto.com/kanye-west-barkmeta-meme-coin-controversy/ https://beincrypto.com/kanye-west-barkmeta-meme-coin-controv... https://beincrypto.com/libra-meme-coin-linked-to-melania/ https://beincrypto.com/libra-meme-coin-linked-to-melania/ https://www.ccn.com/news/crypto/child-streamers-30k-crypto-rug-pull-stunt-harsh-memecoin-reality/ https://www.ccn.com/news/crypto/child-streamers-30k-crypto-r...