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Argentina president faces impeachment calls over crypto crash (www.bbc.com)

submitted 1 month ago by marioms@lemm.ee to c/nottheonion@lemmy.world

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Argentine President Javier Milei is facing impeachment calls - and legal action accusing him of fraud - over his promotion of cryptocurrency on social media.

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[–] jagged_circle@feddit.nl 2 points 1 month ago* (last edited 1 month ago) (1 children)

They're shit coins. Nobody is being scammed.

They just overestimate their ability to time the market. But some do make money timing the dump.

Your odds of winning are still better than the casino. But I'm not a gambling man.

[–] ShellMonkey@lemmy.socdojo.com 2 points 1 month ago (1 children)

For some it's an eyes open ponzi scheme, then there are always the village idiots that think that surely this is the one that is going to replace the world currency.

[–] jagged_circle@feddit.nl 1 points 1 month ago* (last edited 1 month ago)

No. That's for cryptocurrency.

Shitcoins are for gambling. Nobody expects memecoins to replace world currencies. Just like nobody expects to buy groceries with pubic hair or lottery ticket stubs or arcade tokens.

Shitcoins are for timing dumps.