Shitcoin drama and scams: name copying (warnings)!

SocialManager

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So, two instances of this I saw today on CryptoMoonShots. If you want to see how marketing complete scam coins is done, visit CryptoMoonShots and sort by New. If you don't know what CryptoMoonShots is, just Google it. Not going to direct link.

  1. The first scam almost got me because of Fear of Missing Out (FOMO). The best way to make a quick buck with these shit coins is to be one of the first to buy when they first hit the market. Even if they are a complete scam, you can still often make money as long as you get out early enough. Of course, there are ethical considerations, but such is life. Almost everyone else is looking to do the same thing as you. So, I saw a new post, and the project looked amazing. Fully developed website, thousands of Twitter followers, active Telegram, and the project actually seemed to have a real long-term goal.

    I check out the details on PooCoin and bscscan to see if I am early enough: Brand new, less than 40 holders. This is it, a true 100x-1000x. I decide to be extra safe, I will copy the contract address directly from the website (and not from CryptoMoonShots). Hmm, can't find the address. OK, I will grab it from their Twitter. Hmm, can't find the address. OK, I will grab it from their Telegram. Hmm, can't find the address. Well, I know I am early, but not THAT early. Something doesn't add up.

    So after further research, I realize someone just created a token with the same name as this project, and the real project has not even launched its token yet.

  2. The second bit of drama I got into involves a YouTuber launching a token with the same name as another token. The YouTuber is still pretty small, just under 2,000 subscribers. I don't fully understand the situation yet, but the comment section is very interesting. I actually bought this one for fun, a very small amount. The YouTuber is accusing the first team of rug pulling... but why would he copy the name of a project that rug pulled? That seems like the project is destined for the garbage bin. I am banking off some drama making YouTube recommend this video because of an active comment section. I think I got in a few hours too late, but we will see. It is easier if you just check out the comment section of the video yourself (again, this token is probably trash from the start, because nothing about it makes any sense).

 

SocialManager

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I was able to exit $IRONY (the second project) for nearly 2x. I was going to keep some behind as I do with all shitcoins/memecoins, just in case they go to the moon, but I was having trouble selling (not sure what the issue was exactly) so I just dumped it all. If it goes to the moon, it will be without me :weep:


PooCoin really needs to have a thing that counts the number of 0's for you. If you wanna see how fast these prices change, scroll to the bottom. I would have 1.5x my profits if I waited about 5 minutes, but at 7 minutes it was back down to the price I exited at. Insane.

In total I held for 7 hours, and most of that time I was facing a loss. It is important to know that one of the big things these tokens do is tax every transaction. So you lose "money" immediately when you buy. Even if the price stays stable, you are at a loss. If you hold a long time, you will get "free tokens," but of course if the price drops during that time, it doesn't make up for it.
 

Tommy Del Rey

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they think they smart for buying millions of "safecoins" and then they are loosing all their money kekk
 

SocialManager

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safemoon is your best choice
I am holding my SafeMoon until 200x minimum or dead. If the Devs are "scammers," they have already made millions AND they still hold tons of tokens. So they really have no incentive to stop working on the project and trying to make it something valuable. Why should they leave the project when they can just print money for the rest of their lives? The community gives them as much money as they need to try anything in the crypto world. They are in the best position. They can live like kings and just outsource most of the work to other developers and marketing teams and just do updates once a week and twitter posts once a day.
 

kaurr

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I am holding my SafeMoon until 200x minimum or dead. If the Devs are "scammers," they have already made millions AND they still hold tons of tokens. So they really have no incentive to stop working on the project and trying to make it something valuable. Why should they leave the project when they can just print money for the rest of their lives? The community gives them as much money as they need to try anything in the crypto world. They are in the best position. They can live like kings and just outsource most of the work to other developers and marketing teams and just do updates once a week and twitter posts once a day.
I have abit same kind of idea about Safemoon, even if they planned to rug at somepoint really hardly then for now there is no point for that after all. It would be to big scam, it would be one of world biggests scams and all these guys who have shown as team members there they wouldnt survive it anyways, maybe only possible way how they would survive would be in prison. If you scam 1.5m people you get fucked for sure.
 
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