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Jacek.degen.eth 🎩
@jacek
Been diving into some pump.fun Reddit threads… Looks like they solved a real problem—anyone can launch a token in seconds now. But in the process, they might’ve created a much bigger one. Scammers are printing money by farming hype and dumping on regular people who genuinely believe they can flip 0.5 SOL into 100 SOL with just the right moves. Not sure how sustainable a business model is when your users consistently lose money. Unless, of course, they’re getting some kind of entertainment or social value in return. I’ve played around with it, and yeah, there’s something there. If you’re looking for an anon social feed with chaos energy, just go to 4chan. But what surprised me is that many users really believe there’s a skill curve to this. They’re getting rugged... and coming back for more. Reminds me of Las Vegas—people know the odds are against them, but they keep playing. There’s definitely a psychology worth studying here. Curious what others think.
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Kenji
@kenjiquest
It's gambling... 100% gambling. Just remember your mammoth gains are coming off the back of other people's losses. It's a chicken race of who pulls the trigger first. If it's a fair market without issuer rug pulls, perhaps that's more palpable. The worst ones are the scam coin launches which are designed to make people lose money intentionally which is unfair. I like the approach that Clanker or one of the other Base Chain token creators were doing which had some kind of guard in place which had a time lock on issuer coins or something (memory is vague). Did XRP's version of Pump Fun (First Ledger) for a while and the scams were brutal. Even with DYOR, some of the scammers would have legit looking web pages, Twitter accounts with history, meaningful engagement and followers... but would still rug. So there's that. Structural guards are the best bet.
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