I see that random video from Techelad. The creator of Million Token.
Here is my last post about: @urun/techleads-mm-coin-rug-3-days-13-milliondollar
It is like safemoon and the other shitcoins.
Only 1 usecase.
Pump and dump. With different parameters. But at the end, that's the only reason for 99% of this coins to be here.
Really interesting is the way of Techlead does it coin.
He says, yeah 1 coin is worth 1$ at minimum. Retards and Influencer around the world think, He puts in a Million...
Even finance influencers with millions of subscribers. Sure these people are idiots.
"Make money out of youtube and invest a bit of that money."
What he really does is a pool. Put 15k USD in it and 15k coins.
Sells 15k coins and puts the next wave of coins for a higher price in. And so on.
so it cost literally nothing. Some ETH fees. That's all.
And as far chain data shows with add and remove liquidity, he sold a lot in the range of 50$ to 200$.
Shitcoin Rating:
Marketing: 10/10:
Without run a big advertisement machine, he makes a lot of money. People really think it cost him 1 Million to create that token, and because of that, they shared it. Not bad, also in terms of communication that allow this miss understanding.
Because there is no use case or something valuable, the other rating from tech and innovation is 1/10.
Conclusion
What we can learn is Influencer Tokens ( SMTs) can have a lot of value. But, it would invite everyone to scam their community.
Maybe not on hive because no censorship and everyone would attack those people. But on a L2 from hive in the future with and muted front end ( like a bubble subreddit), those scams can and will happen.
On the other side, really good Tech and a lot of freedom. A lot of free marketing at this point for hive because communities and influencers want to sell their shitcoins.
But, we need to think about the protection of some of those users. Special with swaps it can be super easy to buy-in. User experience will here be important.
I would prefer for example keychain mobile app ( because most idiots use most time smartphone) an safety mode.
The community can up and downvote coins to be trustful or not ( or something like that), with some parameters to make it abuse safe.
What do you think about those scam coins, misinformation, and what we can learn about it?