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/biz/ - Business & Finance

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[ERROR] No.30181210 [Reply] [Original]

What is to stop a dev making 999999999 of a coin at 5000 usd and then selling it all as soon as it's made thus becoming the richest person on earth? I am a low iq retard so please explain to me

>> No.30181305

>>30181210
Sellers need buyers.

>> No.30181322

dumb people only have so much money
watch as ADA drops like a rock when the africans stop buying

>> No.30181364
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[ERROR]

>>30181210

>> No.30181495

>>30181210
The price is only what people will pay for it. I have a couple shitcoin bags worth $500 a piece, but they are actually worthless because I can't sell them on Uniswap or anywhere else

>> No.30183024
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[ERROR]

>>30181210
and who would buy your coins sir? someone needs to buy it for you to be able to sell it

>> No.30183369

>>30181210
these are the kind of retards that made Sergey Nazarov a billionnaire

>> No.30183700

>Take a sheet of paper
>Rip it into 100 little squares
>I now declare each square is worth a million dollars
>Sell it for 100 million

>> No.30183827

>>30181210
these are the kind of retards that made Sergey Nazarov a billionnaire

>> No.30183868

>>30181322
are they really relying on africa? their net worth isnt even as much as New South Wales

>> No.30183917

>>30181210
these are the kind of retards that made Sergey Nazarov a billionnaire

>> No.30184011

>>30181210
the original devs don't have any special access to the code that controls specific parameters on the blockchain -- after people start mining/staking/running nodes off the initial build, everyone has to vote to change to a different build. Usually those different builds are made by the original devs, but they don't have to be as code for these cryptos are open source. So the best someone can do is create a build where they give themselves 99999 of a coin, but the rest of the participants in the blockchain would also have to vote in favor of that change.
If you're talking more about stablecoins like usdc or usdt, it's because those systems are audited to be backed by real us dollars and they can't arbitrarily create new tokens.
Well, they can, and USDT is, but that's fiat for you. Fiat coins are inevitably a scam because fiat is a scam.

>> No.30184162

>>30181210
you would quickly run out of buyers and then the price would plummet
nt larping as a retard tho, OP

>> No.30184314

>>30181322
>watch as ADA drops like a rock when the africans stop buying
everyone look at the fearful mETH bagholder
>>30183868
no, don't be dumb.

>> No.30184496

>>30181210
Can make it if he owns Jigstack (do your own research you stupid tard)