Eli5: How exactly do “memecoins” make money ??
In: Economics
No crypto “makes” money. They’re essentially a pyramid scheme…
If you buy some coins early on for little money, and other people buy them after you for more than you spent; you can sell your coins for more than you originally paid.
The coins themselves have zero productivity and don’t actually do anything to appreciate in value. Which is why the only people that benefit are the people that created the coin and the insiders they cut in early to try to generate hype to get other poor saps to buy in.
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