Phoenix68
Well-Known Member
- Joined
- Mar 12, 2022
- Messages
- 17,158
"I have, like so many others, been wrong about Bitcoin and crypto. But timing is not destination, and I believe one day there will be a rug-pull that will wipe trillions off the face of the crypto earth. This might happen when Bitcoin is $200,000 or $2 million, but it will happen.
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For the uninitiated (See: MAGATS), a rug-pull is a coordinated effort by a concentrated group to sell their crypto holdings at a price they are content with, leaving the foolish masses with nothing but losses. It is transfer of wealth from a large to a small group. One recent and very visible example was Spanky’s and Melania’s meme coins."
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For the uninitiated (See: MAGATS), a rug-pull is a coordinated effort by a concentrated group to sell their crypto holdings at a price they are content with, leaving the foolish masses with nothing but losses. It is transfer of wealth from a large to a small group. One recent and very visible example was Spanky’s and Melania’s meme coins."
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