The wild success of Dogecoin and other joke cryptocurrencies has led to many imitators. But the joke has to come at somebody’s expense.
This dynamic creates a moral quandary. Darrien Justice, community manager for Garlicoin, another joke token, says he would never recommend anyone purchase a meme coin as an investment—including his community’s own—for precisely this reason. “The regular investors are absolutely the exit liquidity, but they don’t quite understand that,” he says. “I don’t want people to lose money buying Garlicoin. It sucks.
Among the several meme coin investors who spoke to WIRED, most said they make some attempt to assess the risk of fraud before buying into a new token. But there’s a limit, according to Dyma Budorin, founder of crypto auditing firm Hacken, to the due diligence someone can do with the public tools available.
The creators, for their part, insist that meme coins play an indispensable role by attracting new faces to crypto. The accessible branding, says Lane, creates a route in for people who might otherwise be alienated by the technical learning curve or crypto’s ideological groundings. “Not everyone can win, obviously,” she says, “but that’s the nature of it.”
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Rinku not thinking about India call-up despite stellar IPL campaignRinku Singh has had a season to remember in the Indian Premier League (IPL) this year but the explosive middle order batter is not thinking about selection for the national team despite lighting up the league with his batting heroics.
Leer más »
California dermatologist pleads not guilty to poisoning husband with DranoShe was arraigned on three felony counts of poisoning and one felony count of domestic battery with corporal injury.
Leer más »
'Huge': SEC Emails Suggest XRP Is Not SecurityNew evidence suggests that Ripple's XRP token may not be classified as security, according to SEC's recently unearthed internal emails
Leer más »
Technology Will Not Restore Our Pre-Climate Crisis Future'Even if the federal government were taking effective action on climate, local movements would be crucial to curbing capitalism’s assault on the Earth. Now... local and regional action will be more important than ever.'
Leer más »
I’m 47, Single, & Not At All Worried About Finding Someone'I am more at peace than I have ever been.'
Leer más »
Biden targets taxes in debt ceiling talks: ‘Revenue is not off the table'President Joe Biden says revenue, not just spending, is on the table in debt ceiling negotiations.
Leer más »