[manquer]

> you can make money but you're essentially gambling.

It is much worse than that, legitimate gambling is fine.

In meme coins everyone knows they are scamming and and it is a pump and dump but just think that there would be some dumb "bag holder".

[maxbrt]

I was at an (academic!) conference about Crypto recently with a friend. I am an outsider to the whole topic and wanted to "expand my horizon" and see if maybe my expectations of if it being mostly a scam were wrong.

In one of the first talks we went to, the panel speaker mentioned that Trump pumping-and-dumping his memecoin was a good thing, because that more or less justifies their own position in doing so, and that it would maybe lower their legal fees in the future. This was followed by a big laugh from the audience.

These people fully know what they are doing.

[quantified]

Sort of like a casino version of musical chairs, but the there's no music.