Can somebody explain the rational of shitcoiners

[Anonymous No.54977411]

advertising on this board. Its dead, deader than any of the other public advertising platforms, which are arguably also dead, but still have a higher percentage of sucker than this board.
It just seems desperate and pointless

[Anonymous No.54977519]

>>54977411
>It just seems desperate
checked and there you go.

[Anonymous No.54977542]

>>54977411
They are, as the anon above me said, desperate. These are desperation tactics. They do fleece the occasional reprobate gambler, I guess.

[Anonymous No.54977562]

>>54977542
I cant imagine it even justifying the gas costs to deploy a shitcoin, that anybody can just check for reflags like taxfunctions, blacklists and other obvious scam tactics

[Anonymous No.54977579]

>>54977562
As long as the cost of deployment, which really is not much, is below the profit one can farm from a couple of people in "the tg" (where the "based devs" post "hilarious memes"), it's profitable to keep doing this. In practice, it gets done even afterwards, out of sheer desperation.

[Anonymous No.54977612]

>>54977579
Its really time that Gary does the right thing, declares eth a security and bankrupts cexes and onramps

[Anonymous No.54977668]

>>54977612
There's always going to be scammers, scamming wasn't invented with BSC (or whatever the shitcoin chain of choice is nowadays). While the desire for regulation is understandable given the unbearable nature of the ubiquitous scamming, regulation inevitably chokes the life out of us. The SEC was originally instituted to protect investors, and now it's become a twisted mockery of its original purpose - a cudgel with which people only threaten others.

[Anonymous No.54977679]

>>54977411
/biz/ is arguably only dead because mods selectively prune some shills and not others. It's how you can tell what they own (I.e BITCOIN).

That said, marketing is surprisingly tough; 4chan catalog at least means the handful of people on /biz/ see it. Other platforms are essentially even lower return unless you manage to nab a big follower out of the blue.

[Anonymous No.54977701]

>>54977668
Of course scammers existed before, but cexes are more then compliant with giving them an easy way to scam retards; in the spirit of investor protection, eth deserves to be shot off the map and companies that want to use distrbuted ledgers to raise capital should jump through the loops everyone else need to jump through

[Anonymous No.54977729]

>>54977701
What about people who bought ETH? The purpose of the Howey test and subsequent enforcement (enforcement against the sellers of the security, not against its users, nominally) has the aim of "refunding investors' money". There is, in the event of such enforcement, no realistic chance of that. Truly a perversion of the law, as said.

[Anonymous No.54977736]

>>54977679
I would go so far to say that if the sec or other agencies go for regulatory clarity, everyone, every small shill be it an individual or a company that have played this game of ponzis and grey capital raises need to be fucked as hard as possible. No pity, they should empty their wallets all of it

[Anonymous No.54977755]

>>54977729
bad luck. That is the risk investing in new tech. I wont care if they lose, bitcoin is bitcoin, and shitcoins are a plague with the entire rat tail that came with it and need to be removed with fire

[Anonymous No.54977812]

>>54977755
I do share your negative opinion of shitcoins, don't get me wrong, but you are arguing for law-as-not-intended. That's hardly the law, then, it's a completely different, corrupted form of the law that just masquerades as the real one. Law-as-intended is for investor protection, law-as-not-intended is investor punishment. You can hardly advocate for the application of the law if you implicitly admit that you wish to see its perverted version applied. That's boasting that you wish to see it violated (quite literally so: you wish to see the law violated through its twisted version being applied).
As for how much damage is being done: the shitcoiners are unbearable on this board, but this is an almost dead board. Who comes here?

[Anonymous No.54977848]

>>54977812
>Who comes here?
/smg/
/pmg/
bitcoinmaxis to shake their heads at the state of crypto

And the law was intended to protect investors, eth and the rest of the "smart" contract chains are a gateway for every pajeet to try his luck to scam. It wont hurt the technology on its own if the barriers of entry are increased and those that are serious about the tech can play on testnets, build things, test things and from there can go to the right channels to raise capital and try to sell their ideas while closing the door for at least the lowest level of scum

[Anonymous No.54977861]

>>54977411
biz is where the money is pal. If you think this board is "dead" then you haven't seen it during it's TRULY dead state of post 60k dump, that almost killed the board for real

Shitcoiners keep the board healthy as well. If you see your PEEPO and your WOJACK then it means there's money circulating. Look at PEPE, it moved the market and made headlines. Want it or not, shitcoins move the market

[Anonymous No.54977885]

>>54977861
Please go and kys

[Anonymous No.54977905]

>>54977848
>can go to the right channels to raise capital and try to sell their ideas while closing the door for at least the lowest level of scum
Sure, but nobody is forced to buy a shitcoin. Someone who thinks that a shitcoin is a company is already punished by losing his money. It can be explained to people to not buy shitcoins, it's not an impossible task. Yes, some instinct will always drive some to buy this shit, but just protecting everyone from the consequences of his actions is not a solution either; then people will think that no action, no matter how dumb, will have consequences.

[Anonymous No.54977918]

>>54977885
He's certainly not making my case, but keep it in perspective: this is a post on /biz/, not a full-page NYT ad or government policy.

[Anonymous No.54977963]

>>54977905
It would already help if there was law making it illegal for platforms to advertise tokens and coins. Being able to report shitcoin advertisers, no matter if its a sucker trying to find other suckers or an organized marketing company be reported on here for violating united states law and completely banned from other public advertising platform like twitter and reddit. Guess tg and discord are grey areas that are harder to regulate in this regard.

Then okay, if a gambler goes there and gets scammed, his fault

[Anonymous No.54977976]

>>54977963
>It would already help if there was law making it illegal for platforms to advertise tokens and coins
I do agree with that, at least the out of control advertising could be regulated. That really is luring people to their demise.

[Anonymous No.54978009]

>>54977963
But otherwise trust me: the shitcoiners piss me off MASSIVELY too, I really get where you're coming from.

[Anonymous No.54978024]

>>54977976
not just luring retards into their demise but takes the air out of the room for everyone that really tries to build something with the technology. But anyway, I don't see a way around to fuck eth up, an example needs to be made, a big example and fucking the eth foundation and other labs and faoundations would send the right signal that the casino is closed

[Anonymous No.54978058]

>>54977411
We need a return to fundamentals. Investing in projects that have whitepapers and new tech in development with a countdown clock so the public can see when it will be live. We need long schizo autistic posts. We need to treat crypto like its stocks. Only then will anyone come back.

[Anonymous No.54978071]

>>54978058
>like stocks
sounds like securities to me by companies that ultimately try to raise capital, like chainlinklabs

[Anonymous No.54978075]

>>54978024
I can at least see the reasoning behind that. Ideally, one wouldn't need to be made, but I see why it might be useful in practice, since we don't live in an ideal world.

[Anonymous No.54978124]

>>54978075
lets be honest here, Vitalik and his people raised capital back then, didn't go through the proper channels and created an unregistered security, unimportant if at the end of the day useful tech was buold, with the help of the capital raised. A billion dollar fine but be appropriated

[Anonymous No.54978303]

>>54978124
As a goal, maybe, but I still think the SEC shouldn't enforce that. either their people are bad (as in, qualitatively, not necessarily evil) or good, but in both cases, enforcement will tend to increase over time, and become overbearing in general. Yes, the market isn't perfect, but these shitcoins are running out of steam quicker and quicker, to the point where shills have to scrape the bottom of the barrel here by shilling increasingly bizarre ones. They're getting repriced to the appropriate level already, though it is taking a while to get there because people harbor all of these delusions, I admit.

[Anonymous No.54978421]

>>54978303
They might be running out of steam, but that wont end the cycle of scams, it will just return and be annoying again with the same trajectory, with desperate people becoming lunch for scum. There needs to be a decisive example, and ripple isn't that example, eth is. I am not 100% aware of all the secs or other agencies tools, but there is certainly one that can be used to throw a nuke at the eth foundation, not necessarily eth the token that could serve as a deterant for past and future companies that want to raise capital without going through the proper channels and investor protection; and a Billion dollar fine wont kill eth or the foundation but be a big enough signal to say, until here and not further