I’ve been wondering about it for quite some time, note that I know practically nothing how crypto market works.
Assuming you are jumping into a crypto project of a known scamer, like Mr. Logan. If you’re expecting it to be a rug pull, is there anything that stops you from pulling out AFTER other morons buy in and BEFORE the founders pull out crashing the value?
In: Technology
It’s not impossible, only very hard. You don’t know when it will happen, and the creators of coins have millions of them for next to nothing so the rug pull can very easily happen while the price is still very low, but much higher than whatever they go theirs for.
The people buying into it are very hyped up about it and often have cultish behavior, thinking this will be the great next thing that will make them rich. Then at some point, the people who have created the coin and their friends decide when to pull out simultaneously, which tanks the price nearly instantly and that leaves almost everyone else at a huge loss. You can try to take your chances with it but it’s too dangerous and unpredictable.
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