I think the issue here is you guys don't seem to understand how stocks work, or how economics in general work.
Do you actually think Elon has a trillion dollars under his pillow? Do you actually think he has a trillion dollars in the bank?
Do you know understand that the vast majority, probably over 99.9% (idk the exact amount) of his net worth is calculated based on shares of the companies he's connected to, and isnt actually a tangible asset, home, properties, cars or even legit paper money?
What do you think would happen if he just gave all those stocks away and told the charities he gave them to, to sell them?
That's right, the stock prices would crash and burn. The companies would face foreclosure.
Hundreds of thousands of people, if not millions, would lose their jobs.
Factories would close.
The factories closing would cause major financial distress to the people providing materials to the factories that make the parts for the cars or rockets, and so those families would also face financial hardship. Ripple economics.
Other electric car manufacturing giants would then just buy up the empty factories pennies on the dollars and just take over and then be the "new bad guy" so you can then complain about them too.
etc etc etc; i can keep pressing the point home but i feel like instead of wanting to understand the world around you, youre content with actually being ignorant.
God bless your heart.
@TheCensoredRock@SpecialOlympics@KamalaHarris I see your "The elite are hiding the Let's Get Retarded song" post, and I raise you a "Fergie peeing on state in 2005 WHILE singing Let's Get Retarded".
Something tells me that they know this, and have considered ways to "repurpose the SOL" [put into their pockets].
A lot of people are under the impression that burnt LPs are unruggable, but they don't understand that Pumpswap runs on upgradable smart contracts. (look up what that means if you need to)
All they need to do is push an update to the contract that allows the pf devs to be allowed control over LPs with no owner [burnt lp], and they can rug the 5m SOL out of the pools in an instant. And "it wouldn't matter, the tokens were dead anyway"
Yes, this is an actual scenario. Knowing their extraction history, I'd say they've thought about this a LOT. lol
Due to limitations on how migrate dot fun works, essentially.
Basically their product, from a techncial standpoint is a presale mechanic, where if you own the old token you can "trade it in" for the new token.
Then, once the new token is live you get to claim the equivalent of whatever you traded in at the start.
How do they go about obtaining the tokens to give to you? Do they mint them?
Nope, they 1. sell all the old tokens (michi) that were sent in to the trade-in address, they sell these on raydium pool tanking the price there
2. this gives them a bunch of sol from selling
3. they use the sol to launch a pf token with same logo same socials and they buy up bunch of supply using that sol
4 they put the supply they bought this way in a claim address so people who traded in the old one, now can claim the new one
Here's the kicker tho and yes; the old token is very very much alive.
If i was Raydium and i needed a chance to prove to people that Pumpswap's fee model is atrocious and untenable, i'd pump the shit out of the original Michi just to make a point, now that all the greedy people running the original one moved to Pumpswap so they could claim fees.
Kinda baffled that more people aren't fudding whatever the heck that anoncoin variant is.
To put it into perspective, the person who launched the other kimchi token on anoncoin has raked in almost 200 grand.
What have they done to support their token since launching it?
0. nothing. Not a scrap. Not even an iota. Zippo. Negative support. Not even a check in. Not even a penny. Not even a 1$ buyback.
Matter of fact, that same deployer has launched MORE coins using the same address since deploying kimchi on there, lmao.
Don't take my word for it though, go look for yourself: https://t.co/ozQSalvNpb
Basically what this tells us is that people are absolutely retarded and are craving to get rugged.
The new trader fee model for community coins on PF where traders earn rewards is actually much closer to what we had in the beginning, ie no greedy devs accumulating multiple six figs for doing nothing; the fees go to traders now.
This token here is literally a valid CTO where community can just run it up, with no evil overlord raking in multiple six figs for doing nothing.
And yet, people are choosing to bid on the one coin where the dev's just straight up money rugging?
@a1lon9 get your boys in here and send this with haste, this is an embarrassment to the space.
I dont think they intend to avoid it.
Intrinsically these platforms NEED devs to spam launches, that's how they retain mindshare. It's why bonk caved and added dev fees (people moved back to PF to reap dev fee rewards).
People that bot launches are going to launch their botted launches on the platform that is the most profitable.
anoncoin needs to change its entire model or it will innately and by design cater to whomever launches faster. And we know its impossible to beat bots. They will push those tokens out in nanoseconds. Humans cant compete.
The issue with your premise is that you need your platform to be obscure in order for it to cater to humans that want to launch "pvp free coins" (ie 1 ticker 1 name allowed on platform).
The reality is, the moment you guys get some traction, and god forbid you do cuz what the fuck is "get ready for vamp season!" - which intern sent that tweet???
You gotta announce that you terminated them to save face, or its joever, but i digress.
The moment you guys get traction and volume surges, bots with fake 10-100k follower accounts they bought years ago on X are going to frontrun every narrative with auto launchers and essentially monopolize your entire launch space with their coins. And your plan is to reward them heavily for it.
It's game over for anoncoin, and you haven't even started playing yet.
There's also the issue of fees.
People can shit on PFs new fee system but, having a token where one random overload rakes in 100s of thousands of dollars just for front-running a news event is probably a good thing.
Let the community centric tokens run again.
It worked in the past for SOL, and it can work again.
Volume indicators and chart formations are important IMO. The token launched on that anoncoin platform (horrendous design btw) doesn't have natural chart formations; looks heavily tampered with and has half the volume of the PF variant.
I could be wrong and retarded but if i had to put my money on one of these horses its probably going to be the PF one.
I understand when its two tokens with literally the same ticker and name but imagine for a second the first deployed penguin coin was called "nazy penguin"
Would you still say "stop pvp-ing it, buy the first one regardless of the name!" if a better/correct named token came along?
I think PvP where its literally a clone stamp of the old coin and same everything, is pretty stupid.
PvP but its a better version/has the correct name? I think at that point the new token ends up winning simply because it has the correct name, people usually decide with their own money and chart going up means the people have spoken.