this post was submitted on 24 Jan 2025
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chapotraphouse
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Rugpulls and crypto are the same thing.
essentially yeah but I think the difference is that a rugpull involves selling off immediately, rather than playing the long game. if the creators of bitcoin had rugpulled early on it wouldn't be worth so much today. the smarter move is to sell off small amounts over time to avoid mass panic and keep the line going up. but a memecoin was never going to have that kind of longevity
Bitcoin as the OG wasn't really setup for rugpulling like that. It had to establish the whole craze first. You need millions of greedy goblins chasing flashes to do proper rugpulls.
If you're going to play the long game you might as well use shell companies, IPOs, and tax advantages that are baked into the normal system. You'll get all sorts of ways to turn the, what, 25%? tax rate of reporting crypto into owing less than you would if you worked a normal job.