Better yet, unlike the traditional market that has SEC oversight, the crypto market offers the ideal space to pump and dump the digital assets. DDTG pic. Portnoy is taking shilling crypto to a whole new level and fast. It seems improvised, but I bet he's been preparing his crypto marketing campaign for a while. Interestingly, it is easy to know his next pump and dump target as he is using the cryptocurrency exchange Gemini , founded by Winklevoss brothers, to trade cryptos.
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- Best Shitcoins in 2021
- 'Squid Game' cryptocurrency scams $2 million after creators vanish
- Shitcoins: What are these crypto coins and should you invest in them?
- “Bitcoin is the real shitcoin,” John McAfee strikes again
- Shitcoin Token Price
- Shitcoin, A Cryptocurrency With No Value: All You Need To Know About
- Sour Solution - Gustav - Shitcoin - White
Best Shitcoins in 2021
That should have been the first red flag. It's easy to get get caught up in the hype of cryptocurrencies. Unfortunately, cryptocurrency trading often results in far more losers than winners. The latest example comes courtesy of a cryptocurrency attempting to profit around the hype surrounding the TV show Squid Game.
On Oct. As memecoins sometimes do, it exploded in growth. Then, as memecoins are also known for doing, it all crashed. In an instant, the price fell to one third of one cent, where it remains at time of writing. If you're wondering what that looked like in real time, it was fortuitously captured by a live streamer. In what's known in crypto circles as a "rug pull", the creators drained all the project's funds and then vanished, aided by the anonymity that crypto wallets afford.
The Squid Game coin's website and Medium account disappeared -- though you can see an archived version of the site here -- and its Twitter was pulled due to "suspicious activity". Bitcoin and Ether are the two biggest cryptocurrencies in the world, but below them is a sea of "altcoins". These are to cryptocurrency what penny stocks are to blue chips, and range from legitimate projects that aim to provide decentralized finance services to simple "memecoins", like Dogecoin, which are essentially bought and sold off community hype.
Though there are real cryptocurrencies with teams of developers behind them, there are many, many more scams. The Squid Game coin featured all the hallmarks of a crypto scam, as Gizmodo helpfully pointed out last week.
Among the many red flags was one giant, flashing alarm: the project's contract locked investors liquidity for a certain time period. In other words, once you buy, you can't sell. This "feature" was written in the whitepaper, described as an "anti-dump" protocol that would assure healthy price growth. Since many altcoins explode and crash within a few hours, traders often invest in these projects with reckless abandon, hoping to jump in, profit and jump back out all in a short period of time.
Scammers sometimes take advantage of this with the aforementioned "anti-dump" liquidity locking. The Squid Game token was meant to be tied into a "play-to-earn" online game, in which coin holders would pay to play a game based on the Netflix hit where, ironically, the winner would take all.
The developers behind the game gave investors an update on the coin's Telegram group:. Daniel Van Boom. Netflix It's easy to get get caught up in the hype of cryptocurrencies. Delivered Tuesdays and Fridays.
'Squid Game' cryptocurrency scams $2 million after creators vanish
All opinions expressed within are intended as satire, and should not be taken as financial advice. We think the title says it all really. Ben went a little nuts with the old sound board, and glued together some of the best worst blockchain based crypto innuendo puns from series 2. From batwinging with confidence, an omelette recipe your mother never told you about, you'll definitely learn a thing or two. Things which you'll wish you could forget, but never will. Best case scenario; you pick up a couple of things about cry We get it.
Shitcoins: What are these crypto coins and should you invest in them?
Since the advent and evolution of blockchain technology, a growing number of cryptocurrencies have entered the market. With thousands of cryptocurrencies in existence, there is no doubt that cryptocurrency is a rising phenomenon. Despite its wide adoption, many coins are created as jokes or memes without a clear roadmap. Welcome to the world of shitcoins. Considering its strange name, you may have come across this term quite often. Let us examine what these coins are, along with the top 5 shitcoins on the market today. Shitcoins are cryptocurrencies with little value, a distinguishable model, or a specific purpose.
“Bitcoin is the real shitcoin,” John McAfee strikes again
Many of these have met varying levels of success, though several have risen to rival Bitcoin itself. There presently exist over 5, altcoins and this number seemingly grows constantly. The paramount altcoins as of May are Ethereum and Ripple. In terms of structure, altcoins can be different from the Bitcoin network in any number of ways. This is often the primary reason for the existence of altcoins themselves.
Shitcoin Token Price
The term shitcoin is one of the most controversial terms in the crypto world because it is used to disparagingly describe certain cryptocurrency projects. Recommended Previous Content. What are altcoins and what do they offer to the cryptocurrency ecosystem? What is a cryptocurrency. D from the birth of Bitcoin , a lot of new terms and expressions have emerged in the crypto ecosystem, such as shitcoin. A very common term that is used to belittle many cryptocurrencies alternatives to Bitcoin or altcoins.
Shitcoin, A Cryptocurrency With No Value: All You Need To Know About
ETH is digital money. It is purely digital, and can be sent to anyone anywhere in the world instantly. People all over the world use ETH to make payments, as a store of value, or as collateral. Bitcoin is the first peer-to-peer digital currency, also known as cryptocurrency. It is famous for its decentralized transactions, meaning that there is no central governing body operating it, such as a central bank. Bitcoin News will help you to get the latest information about what is happening in the market.
Sour Solution - Gustav - Shitcoin - White
In the cryptocurrency industry, there are thousands of altcoins on the market today. Now is a good time to recap how an altcoin turns into a shitcoin over the course of weeks, months, and years. This process is still ongoing today, as nearly nine in ten new projects fail around the clock. As such, any altcoin project which has a strong marketing machine behind it should be scrutinized, as it will potentially turn into a shitcoin sooner or later.
Taking advantage of cryptocurrency owners attackers have once again deployed a malicious tool online. This time, they have guised their vector as a crypto wallet browser extension, Shitcoin Wallet. It appears as a simple browser add-on, but it actually is a crypto stealer. The app named Shitcoin Wallet surfaced online recently. According to a supposed official blog post on Medium, the Shitcoin Wallet is actually an Ethereum wallet.
ShitCoin's market cap is unknown. It has a market cap rank of and max supply of 1,,,, ShitCoin is traded on exchanges. To provide whales, traders, and early adopters a pure shitconin experience. Whales will be given preferential treatement such as early private discounted sales, insider information from dev team etc.. To envcourage merchants to adopt ShitCoin as a standard for digital payments. We will ask them nicely with a very well written letter.
Hours later, more than 20 cryptocurrencies of that name were created on Binance Smart Chain BSC , as a quick lookup on Poocoin explorer shows. Of this group of shitcoins, some have already had astronomical valuations. Another Grimace Coin, this time created on the Ethereum network with the GRIM ticker, took the joke seriously and even launched an official website with a roadmap to try to give legitimacy to the fraud.