[xrstf]

> We had those scams from beginning

I tend to disagree a bit. In the early days, most scams at least pretended to have some non-pump-and-dump usecase. Like Dentacoin or Filecoin. You could at least pretend to "buy filecoin today so you can store PB's worth of data in a year" or "buying Dentacoin now because in a year you need some dental work done".

Nowadays all new tokens/coins have 0 usecases attached and only exist to be pancake swapped and pumped and separating other people from their money. It's all about lending, yielding, farming, interest rates, staking, ...

[herbst]

I can't really agree, sure it's bigger today than it ever was. But God did we see stupid shitcoin projects being pumped and dumped on the costs of naive early investors in the very beginning. No use case, no value, pure pump and dump shortly after litecoin they have been all over already.

Jumping about 3-4 years ago, just before NFTs became a thing and ETH transactions were still cheap there was a grace of the most simple, basic and stupid ponzi "games" the world has ever seen. "Buy color #24384, the next pays 150% of the price and you get 120% back" that often collapsed the same day, and as NFTs weren't a thing yet basically disappeared once the website went down. Yet people threw thousands of dollars at these games without asking questions.

Today's "bullshit" is much more sophisticated and usually doesn't collapse after only a few days, as well as is harder to see trough for naive investors.

But really I can't say it got worse, if anything these 'scams' have more winners because most 'investors' aren't that naive anymore.

[puranjay]

These memecoins don’t even pretend to care about lending and staking and farming. Its literally about just buying the coin and hoping someone pumps it.

The most traded coins right now according to CoinGecko are almost entirely memecoins with no utility whatsoever.

And if I’m honest, BTC was the original memecoin.