Evening, it’s a whole new week!
Crypto meets Black Mirror, it was always going to happen. Now for a completely normie explanation of what this is, there’s platform called ‘PumpFun’ built on the Solana blockchain where anyone can create a their own ‘memecoin’- a culture based crypto token - really easily, as in without much tech knowledge. The Solana blockchain is very cheap to make transactions on, so it’s popular with ‘retail’ crypto guys, ie. normal people, not rich. So I could go on right now and make ‘HughCoin’ and it’s immediately tradable, provided I can persuade people to buy it, the value of each token will go up, so it’s really all about buy in. So as is inevitable, in various corners of the internet it’s now a case of what’s the most mental thing I can do to draw attention to my token and get rich quick. I’ve not seen this guy who’s going to kill himself if his token doesn’t go up in value or ‘pump’, but I do know that most of ‘Crypto-Twitter’ will just refuse to be blackmailed and just watch him die. The only things I’ve seen are this kid below who got his token to pump with ‘he’s just a young guy’ type innocence and then ‘dumped’ - sold en masse, his token on his investors and made $30k in a few minutes. Crypto being crypto though, everyone then bought his token and so that had he not sold for $30k he’d be a multi millionaire. I think he also got doxed and someone stole his dog, which is less funny.
There’s also guys talking about killing goldfish, a gimp in a cage and a bloke who won’t get off the toilet. I’d imagine - I don’t really have to imagine - these are tamest versions and I wouldn’t advise searching pumpfun on X. It’s almost certainly going to get shut down at some point. As we say often around here, a tool can be used for many purposes, but that’s always chosen by a human.
