i dont actually care about this shit so i dont care to do the due diligence to learn the jargon or whatnot, but the tldr is that reddit had an official blockchain token that was paid to posters based on their involvement in subreddits, and theyre discontinuing it. some third worlders like venezuelans were "earning" several dollars per day by shitposting in /r/cryptocurrency and farming these shitcoins by getting upvotes, but now thats over because theyre no longer being issued and theres no plan to use them for anything. as such, the price has tanked by 85% in the past day, and the tokens are likely to go to $0 because who the frick wants these things?
oh also, there were several wallets that sold significant numbers of MOON either slightly before or right around the linked post, leading many r-slurs to speculate that the mod team of /r/cryptocurrency was privy to this announcement before it went public and sold at a higher price than the poors could. theres also a few wallets that have been speculated to belong to kraken that are feeding another wallet that is selling MOONs off in batches of 500 at a time, likely trying to liquidate the millions of them owned without instantly cratering the price to $0.
extra sneed and feed to be found:
lol even the fardnide sub is affected
funne maymays and schadenfreude:
https://old.reddit.com/r/Buttcoin/comments/17a419i/so_moons_just_got_rugged?sort=controversial
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hey, MOON! !followers this is so freaking epic
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the h(on)eymoon days are through
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And that's why you dont buy random shitcoins, degeneratecels never learn
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But with the backing of a trusted company like reddit, how could it fail?
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heckin genius
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Oh wow what a loser
They might double in value or moon soon lol.
Why keep your money in a bank when you could spend it on crypto and have $10000 for every $1
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That's why i will be a wageslave forever
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For once reddit HQ did something good.
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How do you make money off these coins? Who would buy them aside from speculators?
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So what can you buy with this """money""" outside currency trading? Have tesco started accepting reddit moons?
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i think the idea was that the reddit currency would be used on reddit r-slur
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So it's reddit vbucks? What's the point of putting that shit on a blockchain and making you pay gas fees if the only use case is centralised?
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idk i'm not a crypto nerd
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but if no one accepts it as currency, is it even a currency?
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Ok even before the rugpull, why would you pay money for a shitcoin that reddit hands out for
freethe hard labor of pooping up reddit comments?! How do you convert that to actual money?Jump in the discussion.
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Bunch of
[Removed]
posts about the jannies cashing out just before the announcement. Wonder if the Redditors will catch onJump in the discussion.
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Would that be considered insider trading?
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This is the first time I'm learning that reddit had its own shitcoin.
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Snapshots:
undelete.pullpush.io
ghostarchive.org
archive.org
archive.ph (click to archive)
/r/cryptocurrency:
undelete.pullpush.io
ghostarchive.org
archive.org
archive.ph (click to archive)
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Seems like FUD to me. I am now investing my entire life savings in MOON
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