Is it really as simple as it seems to create a Solana meme coin and scam all the traders? How exactly does this process work, and is there truly no accountability whatsoever? It’s hard to fathom that the Solana meme coin arena is filled with so much fraud. What measures can be taken to address this issue?
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This is what happens when there’s zero regulation and zero safety nets. Some folks clamor for “more liberty,” but this is capitalism in its rawest form – pure, unadulterated. Memecoins. They’re like the Wild West of trading, rigged with insider dealings. To win, you’ve gotta be part of the hustle, knowing every twist and turn. It’s a world where only the savviest or luckiest investors survive.
It is like the Wild West out there, but you don’t have to be an “insider” to turn a profit. With diligent research, a keen eye on trends, and perhaps a bit of foresight into the next big thing, coupled with smart entry and exit plans, you can come out ahead. However, for the average person, trying to cash in on these opportunities might just lead to financial ruin.
Creating a token is pretty straightforward—anyone can do it, really. There are platforms and tools out there that make the process a breeze. In theory, it should be simple to identify and apprehend scammers since all transactions are visible on the blockchain for anyone who cares to look. Unfortunately, governments and agencies seem reluctant to track down these fraudsters. Take, for instance, a scenario where I fell victim to a scam. I traced the ill-gotten gains to an address, which then led to another, and eventually ended up on Binance. Now, Binance has strict KYC policies. If authorities were inclined to act, they could easily nab the culprit. However, it seems they’re not quite ready to fully embrace crypto just yet.
Enabling people to pull off scams and rug pulls with worthless tokens IS the primary use case of meme coins. It’s a tough lesson to swallow, but ultimately, you’ll come to understand that Bitcoin and Hedera are the only assets worth holding. Unless, of course, you’re keen on starting your own Solana meme coin scam—a quick buck with no ethical considerations.
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