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| ▲ | nl 3 days ago | parent | next [-] | | Getting sucked into a crypto scam and then deciding to get out, despite the death threats(!)[1] is not a rug pull. To be clear, the BAGS scam coin he got sucked into is a extractive zero-sum game where someone else creates a coin named after him, offers him trading commission to talk about it and then makes money off the hype. He did the correct thing by leaving. (I worked for a bit at a Web3 place. Went in with an open mind and now have opinions) [1] https://x.com/Steve_Yegge/status/2043127887059210470 | | |
| ▲ | sailingparrot 2 days ago | parent | next [-] | | > someone else creates a coin named after him, offers him trading commission to talk about it and then makes money off the hype And we are supposed to believe that someone deep in tech, in 2026, did not know this was going to be the end goal? Was $GAS supposed to be a crypto to help fund poor farmers in Burundi or something ? How else is the meme coin #16352813 supposed to end? That’s the entire point of meme coins. Would love to also « get sucked » into making 300k$. | | |
| ▲ | nl 2 days ago | parent [-] | | > Would love to also « get sucked » into making 300k$. Exactly. It seems harmless - "look, we have this token, it is being traded anyway, do you want to get some of the emissions?" Who wouldn't say "yes" to that free money. But it's not clear at all how corrupting the crypto scam is, and how subtly the corruption seeps into what you do. It starts by "oh can you just tweet out about this" and you are "sure - it's just a tweet" and slowly grows. Steve Yegg deserves credit for walking away from it. |
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| ▲ | yieldcrv 2 days ago | parent | prev [-] | | yeah its kind of sad, because people have to then re-evaluate others they heard about who they also didn't believe the apologies of at the time like the Hawk Tuah girl, or the Enron relaunch long form comedy routine that wound up with a short lived crypto token, and pretty much anyone with 15 minutes of fame or celebrities that drop a contract address for the most part, they themselves actually are the victims of a roving band of deployers running the crypto launch convincing them they're part of something, and of course, the consumers have the choice of never getting involved but the deployers are the ones that should face some form of accountability, or at least the public eye |
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| ▲ | a day ago | parent | prev | next [-] | | [deleted] | |
| ▲ | actionfromafar 3 days ago | parent | prev | next [-] | | To me, no, not quite. I'll give him one free pass. More like "I'll coast on this pulled rug to see what happens" than that he did the rug pull. Not a very wise thing to do, but not malicious either. | |
| ▲ | 0xbadcafebee 3 days ago | parent | prev [-] | | The description on Wikipedia looks like somebody else created a memecoin in his honor, sent him the profits, and he accepted them? And the only people harmed were people who invest in random memecoins? I don't understand the problem. |
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