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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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Leeward Bound
@leewardbound
unpopular take - in USA, according to both securities laws and FEC advertising regulations, if you are selling an opportunity to make money, you have to clearly disclose the odds, risk factors, and the actual amounts won by winners and amounts lost by losers. doesn't matter if it's gambling or MLM or "get rich quick on Google" scams.in the "psychology" of it is settled science - if you tell people they can get rich quick, they are dumb enough to bet their whole life savings without doing any research, and anyone selling opportunities of chance is subject to regulation
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Leeward Bound
@leewardbound
(i am aware this isn't a complete or fully accurate picture of either advertising or securities law, but the laws are there in the spirit of protecting people from exactly this kind of abuse, even though i think pump.fun kind of lives in a grey area between these 2 regulatory frameworks atm)
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Leeward Bound
@leewardbound
goddamn typo, FEC should obv be FTC***
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