Shitcoinpocalypse: Let's give a bunch of anonymous cartoon cat developers a $33

[iWriteCrypto]

Talking, of course, about the Big Eyes coin presale, which is now the biggest presale for a meme coin in crypto history. I think it's going to be a disaster tbh. I read a breakdown of the project recently that highlighted how:

• The auditor has flagged it for being centralized (i.e., literally one of the anonymous cat people could rug pull at any time, that's in the audit they're so proud of).
• The project has ties to other massive exit scams (come on, people!)
• The whitepaper says they're going to "save the oceans" but doesn't say which charity lol

There's a bunch of other stupid shit in there that I won't get into, I'm just venting about how ridiculous this situation is. I checked out the Telegram group and it's full of fanatics, no surprise there, but I really do think a lot of them are sincere rather than being paid shills or bots.

People are going to get screwed. What do I do, laugh? Feel bad for them? This shit keeps happening over and over again, and it's increasingly obvious every time. This one is going to be a headline news event, but if you try bringing it up, the project supporters either get upset at you or at themselves. I think people are just tossing major amounts of money into this shit without even researching it at all, I DMed a nice-seeming dude in the Telegram channel and he was dumbfounded that it even might be a scam, and scared.

I don't know, man. I'm here for the tech and for the gains, but we have a looong way to go before shit like this stops happening and undermining the whole space altogether.

[wheelz1200]

Talking, of course, about the Big Eyes coin presale, which is now the biggest presale for a meme coin in crypto history. I think it's going to be a disaster tbh. I read a breakdown of the project recently that highlighted how:

• The auditor has flagged it for being centralized (i.e., literally one of the anonymous cat people could rug pull at any time, that's in the audit they're so proud of).
• The project has ties to other massive exit scams (come on, people!)
• The whitepaper says they're going to "save the oceans" but doesn't say which charity lol

There's a bunch of other stupid shit in there that I won't get into, I'm just venting about how ridiculous this situation is. I checked out the Telegram group and it's full of fanatics, no surprise there, but I really do think a lot of them are sincere rather than being paid shills or bots.

People are going to get screwed. What do I do, laugh? Feel bad for them? This shit keeps happening over and over again, and it's increasingly obvious every time. This one is going to be a headline news event, but if you try bringing it up, the project supporters either get upset at you or at themselves. I think people are just tossing major amounts of money into this shit without even researching it at all, I DMed a nice-seeming dude in the Telegram channel and he was dumbfounded that it even might be a scam, and scared.

I don't know, man. I'm here for the tech and for the gains, but we have a looong way to go before shit like this stops happening and undermining the whole space altogether.

Aren't we all here for the tech

Seriously though this is like a zillion other projects out there.  It's a scam and at the very least it will end up being a lazy attempt at being a project.  Greed does wierd thing to people where they will just throw their money at everything.  Some people got to learn the hard way.  Unfortunately some people just never learn so they will go broke doing this.

[Silberman]

...

I don't know, man. I'm here for the tech and for the gains, but we have a looong way to go before shit like this stops happening and undermining the whole space altogether.

It is never going to end for one single reason, people want to believe they can become rich by investing in vaporware and change their lies in a matter of months, and as long as there are people which want to believe that lie there will be scammers willing to sell it, this is nothing more than demand and supply, if the demand was not there no one will bother to create such a silly project that even a five year old with the most basic knowledge about how money works will never consider as a legitimate investment opportunity.

[o48o]

-cut-
I don't know, man. I'm here for the tech and for the gains, but we have a looong way to go before shit like this stops happening and undermining the whole space altogether.

I had to google them as i never heard from them and never want hear from them again. But think of the upside: Altcoin season is definitely on when meme tokens like this can raise over $34 million and tokens like $pepe are making shiba-like pumps. Soon it will spread to other alts as well. Sadly these scams and memes won't ever leave us. They will only grow stronger and most likely will beat useful coins while doing that.

[el kaka22]

I honestly think that it is not a good idea to do something like that. I mean why would you want to start an NFT/crypto project like that in order to make more money, developers are insane to think that this is a normal way of making money. I get that they can, but just because you can doesn't mean that you should. I could also pick up a gun and go rob a bank, but try to guess why I do not do that? You think jail is a good reason?

Well, what you think will happen when people realize that you rug pulled them? I mean you just took their money, and assume will not achieve much else, and just claim you "spent" it on marketing when in fact you would be personally spending it. This is why we should be a lot more careful about these type of people.

[darewaller]

I honestly think that it is not a good idea to do something like that. I mean why would you want to start an NFT/crypto project like that in order to make more money, developers are insane to think that this is a normal way of making money. I get that they can, but just because you can doesn't mean that you should. I could also pick up a gun and go rob a bank, but try to guess why I do not do that? You think jail is a good reason?

Well, what you think will happen when people realize that you rug pulled them? I mean you just took their money, and assume will not achieve much else, and just claim you "spent" it on marketing when in fact you would be personally spending it. This is why we should be a lot more careful about these type of people.

Yes, they are doing that to make money but even the old and serious projects are also here to make money except only for the founder of Bitcoin which aim is only to help people to be free from the slavery of banks and governments.

Shit coin developers don't care if what others think about them but they will only do what they want to ride the hype train. They can rob a bank but that is risky as they can likely be caught while if they do scams here, they can easily get away. Thanks to the power of crypto decentralization. If people don't want to be rug pulled, they must avoid these type of tokens because rug pulls are quite rampant with them.

[umbara ardian]

It's true that many projects in the world of cryptocurrency and blockchain are driven by profit and the desire to make money, especially in the world of cryptocurrency, where new ventures are constantly emerging. Sure, there have been many cases of scams in the crypto world, but keep in mind that there are legitimate projects and teams that are working hard to build valuable and innovative products. The important thing is whether you can control your greed or not. The problem is still with you.

[yhiaali3]

Don't worry, my dear, you don't have to bother, you just do what you have to do, there are thousands of this shit on the internet so you can't stop them all.

Everyone is responsible for their decision and they should do their own research, if some people like to be cheated you don't have to be sad for them.

[SirLancelot]

It's true that many projects in the world of cryptocurrency and blockchain are driven by profit and the desire to make money, especially in the world of cryptocurrency, where new ventures are constantly emerging. Sure, there have been many cases of scams in the crypto world, but keep in mind that there are legitimate projects and teams that are working hard to build valuable and innovative products. The important thing is whether you can control your greed or not. The problem is still with you.

We can obviously not blame the people who create those cryptocurrencies with no utility since they want to earn some money using the most hyped topics of the cryptocurrency universe and it is we who give them what they want which is hype only because we want to satisfy our greed and the dreams of becoming millionaires by doing nothing.

We always forget that those who become rich by doing nothing are mostly a few out of a million and that is a very low ratio, to be honest, but who cares? It's only a few dollars for us which becomes a fortune for the creator of that token since a few dollars from a million pockets become a few million dollars.

[swiftxi]

Honestly if the project has enough backers and is popular than yes it will have lots of potential. Memecoin is not Shitcoin... e.i not all memecoins are bad
-Dogecoin
-Shibacoins etc..
Everyone was sceptical of them tbh.. But then holders took over 1000x-2000x ROI profits, it was the most surprising this in q1 2021 along with NFT shaved monkeys...

Take a look at https://bitcointalk.org/index.php?board=159.0
There are 5 worse coins on the 1st page alone, writing 1 line of text and droping their wallet adress  absolute shitcoin material.

[FanEagle]

It is an "understandable" mistake to invest into these. I do say that it is a mistake and I do not agree that it will do great, but I think they are understandable anyway. Because, we are talking about something that makes no sense and yet a lot of people still did it, so when a million people invest into these silly stuff, the one million one will not be weird, that person just did what the other million people did already.

So, this is just a common mistake done by a huge community and as long as they keep doing it, they will keep making each other do this mistake constantly. There is no reason to do it, I think it should be focused on how much trouble it could be for people, but in the end we do not have any issues with this at all, and just let them learn by themselves.