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22285108 No.22285108 [Reply] [Original]

What if someone "mined" coins on a "defi" exchange but rather than solving algorithms they just said "Okay i mined 100,000,000 coins this is worth X ETH/BTC." and traded it and sold it.

>> No.22285119

Then as soon as enough people buy the "Defi" coin, they dump it immensely. There target could be $1,000, $5,000, $10,000, $50,000, or +$1M but it all works the same, defi is a rug pulling scam.

>> No.22285147
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22285147

>>22285108
On the advice of counsel, I invoke my Fifth Amendment privilege against self-incrimination and respectfully decline to answer your question.

>> No.22285205

>>22285108

I dont understand how these DeFi pump and dumps don't lead to FBI investigations. Some of these people are straight up criminals for fraud.

>> No.22286009

Well of course you could do that. But I'm sure nobody would actually buy pre-mined shitcoins from some dodgy site. The average crypto investor is skeptical and wise, a rigorous researcher and careful investor in quality coins.

>> No.22286033

>>22285205
Start with the fed, then move to the small fish

>> No.22286045

>>22285108

Someone has to buy it first and I don't think anyone is going to be that retarded.

>> No.22286115

>>22286045
Since Defi coins are decentralized couldn't they just make up their own market cap? Isn't that why all of these $10M+ defi coins are appearing on top 100 coins on CMC?

>make defi coin
>be the only seller of defi coin therefore you can set the price for your coin on exchanges for as high as you want
>suddenly your coin appears out of thin air on exchanges as $19,000 per coin because you are the one setting that price and your coin appears in top 20 on CMC

Wow cool! Defi!

....

I don't know a single person investing in a defi coin.

>> No.22286171

>>22286033
Fucking this

>> No.22286338

>>22286009
lol

>> No.22287311

>>22286115
its fine as long as the tokens are stored off chain in a ledger or trezor. as soon as they're transferred back onto ethereum its highly illegal

>> No.22287485

>>22286115
market cap is calculated from actual closed orders, you definitely can transfer tokens back and forth imitating trade, but it would be pretty rare situation that someone else would buy your shit (mostly because people who go into emerging tokens are expecting cheap prices).
Also - CMC and etherscan won't track your market cap if you only have few shady exchanges.