Crypto project rugpulls the community then alll point fingers, blockchain fails

[@jayb0g]

I remember people telling me there could never be any sort of fraud or theft because everything is visible on the blockchain.

[@dimwarlock]

I still see people saying that. like, everyone who invests in crypto has lost money one way or another, they just won't say, mildly educated people on the subject knows about the thousands of rug pulls that occur every year... and they still preach it as if they were drinking the fresh blood of Jesus Christ directly from the Holy Grail!!!

[@numerobis2178]

5:25 At this point, everyone in crypto knows that literally everything are just rugpulls bidding their time. They just think they can get out before the rug is pulled.

[@UranusKiller]

Spider-Scam, Spider-Scam! Scamming the bros, like nobody can!

[@irishbob26]

Takes your funds from the web, You got rugged , cause you're a pleb.

[@cornishcat11]

oh brilliant

[@Dradeeus]

Equally possible that they're all responsible and the obfuscation is just to allow them enough reasonable doubt so they can all start their next scams without having to change their identities.

[@PropaneWP]

Yeah, that's what I'm thinking too. Also, it's likely they're using multiple dummy accounts on social media to spread disinformation.

[@nameless5413]

Everyone was probably planning to rugpull everyone else and are just salty that someone got to do it first. beacause that is functionaly how crypto works. We need more spiderman meme (unmasking) rather than blamegaming.

[@elhazthorn918]

A crypto fail? It must be a day ending in a Y.

[@arielgrossman3303]

There will always be a race to rug pull in this community. It shocks me just how much the people who actually know the technology are saying that it's not ready yet and are focused on research, while there are all those scammers out there that don't understand two shits about what they're talking, deploy a bunch of NFTs to opensea, and make millions.

[@The__Teej]

Whenever I make a dumb decision I watch these videos to remind myself that there are people in this world that have dedicated their lives to trading glorified Monopoly money.

[@neoqwerty]

glorified monopoly money you buy at overinflated prices with your rent/mortgage money, at that.

[@kiarastaggs180]

@@neoqwerty and of course….the classic “BUY SOLAR AT NO COST!!! FREE!!!!! JUST TAKE THIS 60 SECOND SURVEY AND YOUR DONE!!!!!!” ads

[@subliminal-damage]

This series is the gift that keeps giving 🥰

[@LikaLaruku]

Crypto is the grift that keeps on grifting.

[@wolfworks7339]

They gotta get tired of being scammed eventually right? Right???

[@ShooberTimber]

​@@wolfworks7339 not if they won't stop thinking they're "going to the moon"/"mooning"(i swear it'll happen this time guys, promise)

[@BBWahoo]

@@LikaLaruku Great minds think alike

[@Ben-kz2km]

0:54 SOME people made money, but most traders actually lost money. There's a book called "The Revolution that Wasn't" that picks the whole thing apart. And I personally know a guy who lost two years worth of his savings because he got in late.

[@shadeitplease7383]

Honestly surprised WSB wasn’t one of the first crypto rug pulls way back when lol

[@ArDeeMee]

As the German saying goes: It fits like a fist onto an eye. =P

[@shanekrupa8793]

Gamestop was not undervalued. The reason its price moved in the manner it did was that there was excessively high short positions on the stock. Which after getting enough people to push the price to a certain point- the investors who had sold short eventuallly needed to recoup their losses and close their positions-buying back the stock, putting further buy pressure on the stock causing it to soar.

[@NickJaime]

It's a theifs guild and each is just trying to hang on to the urge of not stealing from each other. Some seem to not be able too cheat the others lol.

[@LikaLaruku]

I have about as much faith in Crypto & NFTs as I did in Google Stadia.

[@neoqwerty]

That high? I had as much faith in those as I did in popstations you can buy at Poundland.

[@RisingRevengeance]

Hey now at least stadia released a good controller that can still be used

[@dimwarlock]

You heartless monster!!! Stadia was at least an idea that someone thought more than 5 seconds.

[@Walter_]

@@dimwarlock I'm actually glad that Stadia failed for 1 reason. The timeline where Stadia succeeded would have ended in unpiratable undownloadable games. Since all the game files would be internal-server hosted.

[@lucky-segfault]

* _sees title_ * do you have even the slightest idea how little that narrows it down?

[@irishbob26]

Its the Internet equivalent of a Mexican showdown

[@ISawABear]

Hah, see? Foxhole > Wall Street Bets. Foxhole the victors since r/place. Then, now, and forever!

[@khandimahn9687]

People in a meta community actually said you're right? Oh, I can't wait for an update on that!

[@matthewsaari6577]

Very poor characterization of GME situation as a pump and dump. It wasn't, it was a short squeeze. Which is when some investors catch too many other investors trying to short, you actually force a raise in the price by buying lots of shares and the many people attempting to short actually get screwed. This is something that while not super common is not unknown to wallstreet, typically done between investing companies, the interesting thing about GME was it was the internet and "little guys" finding it doing the squeeze which is a new thing.

[@stage6fan475]

Love this content. Thanks for all the work you do to bring it to us.

[@LordZordid]

That's either some serious Stockholm syndrome or people are sad that they didn't get in on the scam first.

[@tzxazrael]

after this series, not to mention all the rest of your videos, "a metaverse getting blown wide open" feels like it should have all the shock and awe of a tiny firecracker going off way down the street... but some of these crypto-bros just keep putting on bigger and bigger blinders, repeating the phrase "but MY crypto investment is different" as if it's a mantra of protection.

[@januszkurahenowski2860]

Lmao at the people telling him to return the money and continue running the project. That's like saying "Mr. Madoff, please return the money and continue running the "project". It's all a scam my guy, there is no "project" here. And you said that they are straight up committing crime but the problem is that they are doing a version of the crime but with a fantasy jellybean kind of money - crypto. That's like committing murder - in a video game. In our laws doing pump and dumps in crypto is like killing someone in a videogame since it's not a security and not a currency.

[@LuigiDOTexe]

Is Cryptmas still going? It’s been a bit. Love this series, by the way.

[@nbrown5907]

What is funny for me is I am now getting some actual crypto channels in my feed from watching folks like you exposing them lol. What is weird is I have pointed out what I think is BS to them on three videos so far and one time I got positive response and the other two were ignored, no fud at me lol.

[@ArDeeMee]

I just block them because I don’t have the patience for it. ^^

[@dungeonseeker3087]

Mod 1: Whose that? Mod 2: Oh, that's Jimmy. Mod 1: The same Jimmy that set fire to the place last week? Mod 2: Yep. Mod 1: Should we like, stop him from coming in or something? Mod 2: Nah, he's good people is Jimmy, he'll not burn us down this week. If you wrote this stuff into a TV people would say its unrealistic and yet, its real life 🤣🤣

[@soviut303]

Rug pulls aside, these projects are equally susceptible to whales doing a big sell or even a lot of little fish coordinating a big sale...just like they did with GameSpot.

[@kaimodo1366]

"A little bit silly... as it normaly is"

[@ArchieRatsworth]

Wall Street Bets always stuck me as wolves learning to herd their own sheep. Looks like one got bored and started biting.

[@aslandus]

Honestly, I would've assumed WSB wouldn't get on board with Crypto since they were already deep in the stock market and crypto is just the stock market with even more volatility, but I suppose it shouldn't be too surprising given that crypto has already adopted most of their lingo anyway...

[@tedferkin]

more volatility and less protection. As someone pointed out, it's like playing the stock market using monopoly money as trading audit

[@JohnSmith-xq1pz]

The fact this KEEPS happening is just sad

[@Rejistania]

GME was not a meme stock per se, it was a short squeeze.

[@zac-1]

it is a meme stock

[@DungeonDragon18]

I'm really looking forward to that deep dive video about VeVeVerse!

[@Carnyzzle]

Another day of web3 going great

[@mantisdragon6322]

do comments actually help? well if so here it is

[@CainXVII]

Yes engagemet is great

[@dylanherron3963]

...and yes, would ABSOLUTELY love a follow up to that travesty VEVE attempt at monetization.

[@NoraNoita]

Thanks I'm new.

[@octochan]

The surprise twist ending to Office Space

[@steamkenny4385]

Why is all this web3 stuff so completely stupid? Why are people bothering with it? Sorry... I just don't see the point

[@nathanpremo]

I don't understand. Even if you call the cops, what are they going to do? They can't FORCE the person to give the money back. And has a crime been committed? Are there any laws about this? I fail to understand the laws.

[@pseudonym8791]

Random Subscriber currently paying in Engagement Token :) keep up the good work!

[@oppenz3723]

"accidentally"

[@PrimroseParadox]

Comments for the algorithm throne. Engagement for the content god. Something something crypto hilarious

[@alexandra2014]

-chants- rabbit hole! Rabbit hole! Yeaaaaaaaa, deep dive, rabbit hole videos are some of the best! The whole crypto thing... just.... it baffles me. Almost as much as nfts do. Like why bother with the risk? And actual firms are looking into getting into this? . Like the company that my work uses for retirement money building.... I have to be like.... NO CRYPTO NO NFT!

[@TheLastPhoen1x]

"Meme stock" You mean "stonk"?

[@TheInternetHelpdeskPlays]

Oh for fucks sake.

[@MultiKwolf]

Please! Show us the rabbit hole, i want this whole crypto thing to be exposed as it is…

[@antondovydaitis2261]

The Algorithm demands Fresh Rugpulls!

[@TenShine1productions]

If only someone has said months ago that this is a bubble and will blow up in cyrptobro faces.... Oh wait...I did

[@Julmara]

ohno those poor rabbits :(

[@DanielSmedegaardBuus]

Funny thing is, this isn't even a rug pull, it's simply the effect of someone selling a few hundred k worth of coin in a very short time.

[@Kurazemi97]

When is your new VeVe video coming out!! :(

[@lefterismplanas4977]

Looks like the calumdar couldn't keep going for more than 16 days in a raw

[@Darkwolfe73]

"That is a video you're not going to want to miss." Aren't all of your videos though? I mean.... yeah mate :)

[@Hadanelith1]

Starting to think your sign off should be 'Take care, and don't do crypto!'.

[@UlshaRS]

What's a little insider trading between friends Before someone goes YOINK!

[@drbob1705]

How long until Cryptobros invent centralized banking?

[@ShawnKavanagh]

This public therapy session is pathetic These are not professionals

[@OliviaWhite-f9g]

Hi, how can I contact you for collaboration? Thank you!

[@megasoma]

Yeah want that VeVe expose

[@chaddixon9764]

Who could have seen this coming? /s

[@BoredPodcaster]

6:36 I don't know why this is surprising to anyone, we've seen the lack of intelligence involved in crypto, and we've seen the almost weekly scams that happen.

[@thesuperjacobshow8151]

I still own 2 shares of GME. Edit: 4 forgot the split.

[@julian5956]

Leave a comment.

[@MapletreePaper]

Callum, in the title "alll" is spelt with three Ls. That isn't intentional, is it?

[@Cannonmaster24]

ngl this shit is pretty damn funny

[@TimmehWatson]

Another day, another crypto mess!

[@Mickeehansson]

Callum the Gamestop stock was Shorted, that is why people bought it, it was like a movement to get back at someshit wallstreet dudes

[@TheLargeHardonCollider]

It's official: crypto/NFTs are the lowest forms of human degeneracy.

[@Fudmottin]

I would like to think the that bitcoin is different. Yes, it does have a colorful history. And yes, all the "crypto verse" is really a rip off of bitcoin. So first mover? LOL. The inscriptions (using ordinal theory) are annoying to me. I don't like graffiti all over the block chain. OTOH, miners are now making lots of money in troubled times. As I see it, the biggest problem with bitcoin next to the scalability issue (if you want it to be planet wide) is the user experience issue. It is a heck of a lot more complicated than traditional finance. So a lot of work has to be done in that area.

[@SchierkeVerdant]

I have nothing intelligent to contribute so I'll leave this here for algorithm reasons.

[@aarondiehl301]

All the bitcoin peoples r jumping ship, they'll see the collapse of it

[@DavelyDriven]

Rug Coin!

[@DEFENDER-lx2hs]

Krapto strikes again,whats new?

[@darthbader6506]

GG

[@dylanherron3963]

Wait! Stop right there, criminal scum! You mean a rug-pull happened and the community affected imploded with finger-pointing and blame? Stop these outlandish claims!

[@DavelyDriven]

Bro

[@_caith]

may this comment feed the algorithm

[@mrSaber79]

I want to clarify the matter of The GME debacle. The goal wasn't really to actually gain money. Perhaps some people were in it for the money but for the majority of people the point was using collective capital to hurt the rich. See, there was at least one hedge fund that was using GME's poor market value, making shorted "puts" on their stocks (basically putting the promise of money down on a bet that GME's stock would drop below a given value by a certain time) and then engaging in skullduggery to actively drive it down. Because GME's stock was low and predicted to keep going down the odds were low so the "winnings" would be razor thin. This only was profitable because Hedge funds were betting massive amounts of capital and then raking in large sums off those thin margins. The risk was that this was a big gamble that was only a safe bet if they went mostly uninterrupted. If the Stocks went up too much (usually a percentage over the stock's price at the time the bet was started) you are "called" (i believe is the term) and you either have to fork over the money you "put" and take the loss or you have to fork over money and essentially re-up the bet saying "i know the stock went up but I know it's going to come back down to my prediction and I'll risk more to prove it". At normal investor scale this doesn't do much but If you are investing massive capital into one stock (like a hedge fund) then the stock price goes up substantially as a result of you re-upping... you can see the potential for a feedback loop here. The only way to break the loop would be for the hedge funds to buy the stocks and then sell them to eachother over and over again at lower and lower prices, forcing the stock value back down. This is why the whole "diamond hands" motto became popular. Yes: there was potential to get rich down the road but the goal was to not let the hedge fund to get a hold of the stocks you bought so they could fix the damage. GME started with a collective purchase which boosted the GME stocks over the first "call". It ended because Robinhood, the Hedge funds, and wallstreet broke the illusion of the "free trade" stock market by first stopping stocks from being traded by regular people while allowing the hedge funds to force down the stock price with what stocks they DID have, Robinhood blocked all further purchases of GME stocks by users, and even created policies which auto-sold stocks at certain thresholds (like -20% for the day) to "protect user investments" to force the people who were "diamond handing" to lose their stocks because of the hedge fund skullduggery during the freeze periods. Wallstreet barely did anything about these violations. In the end I believe at least one Hedge fund went under and Robinhood's reputation has been smeared ever since. Tl;Dr: GME was not about getting rich quick, but rather about using collective idiocy to deprive people who weren't playing by the rules of their money.

[@zebmaxwell7979]

1st?

[@thunderaga]

That end announcement! I hope @CavellAnderson2021 will be watching that