Comment by JasonADrury
14 hours ago
I feel it's hard to criticize people for engaging in this anymore. Why would any reasonable person not take the free money?
In the past this would've been different when you couldn't necessarily expect all participants to be fully aware of what's going on, but absolutely nobody is treating "gas town" coins as a serious investment.
Why is it hard to criticize people for being part of a scam operation? It's so morally and ethically bankrupt that it's really easy and valid to criticize someone for
Who is being scammed? The only people buying into tokens as obscure as these are degenerate gamblers who know very well that it's not any kind of an investment.
That sounds like victim blaming to me
2 replies →
Because you'd be aiding and abetting a pennystock scam.
The difference between bags.fm and pennystock scams is that bags.fm is very obviously not marketed as an investment, but a crowdfunding tool.
Yegge write a blog post for his readers where he called it an investment and hoped the investors would get “filthy rich”.
But people do. There are people who genuinely think crypto is an investment. Yes, smart people knows it is just a grift and that it is just about selling it on to the next person before it crashes. But is it moral to make money on stupid people? Many people lose all their money on gambling even if we always known gambling is a loss.
> There are people who genuinely think crypto is an investment.
Sure! Are those people buying bags.fm tokens? Probably not.
This isn't even marketed as an investment https://bags.fm but a crowdfunding tool for developers with a casino attached.
You don't have to be smart to read the big text on the website.
Yegge write a blog post for his readers where he called it an investment and hoped the investors would get “filthy rich”.