A Cautionary Tale About $GREED
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TL;DR
Over the last couple of weeks, a guy by the name of 'Voshy' launched the $GREED project.
He started tweeting things like "Be careful of your greed; Greed can consume you," and each time he tweeted, it just made people more bullish.
When people pressed 'claim,' on the airdrop it activated two things: They were airdropped 8,007,320,330 $GREED, and their Twitter account automatically tweeted an embarrassing warning to others.
The whole point of this project was to see how far people would go for the potential to make some money - the project was literally called $GREED.
Full Story
The next season of Black Mirror is set to come out in about a month - but you coulda fooled us if we weren't already in it.
Over the last couple of weeks, a guy by the name of Ivor Ivosevic (he goes by 'Voshy' although 'Ivo Ivo' is way cooler) launched the $GREED project.
He didn't really mean to launch the $GREED project, it simply started with a tweet saying: "Are you guys ready for $GREED? Notifications on, next post is the most important one for the airdrop. All interactions with this tweet will be recorded."
The next day Voshy tweeted: "Doing it for the $GREED" sparking hundreds of DM's from people asking to buy the $GREED token in the pre-sale.
Problem was, the token didn't even exist!
"Nobody asked me what the token was or what it was going to be. Everybody just f**king threw out a number that they were ready to send me right away," Voshy said.
He didn't want to take their money, but he did make the $GREED token real.
He started tweeting things like "Be careful of your greed; Greed can consume you," and each time he tweeted, it just made people more bullish.
Behind the scenes, Voshy's developers created the $GREED token which had a mechanism that would let people receive it, but never let them move it out of their wallets.
In order to receive the airdrop, people would have to give Voshy permission to post to Twitter on their behalf (as well as a bunch of other dodgy sounding security concessions).
Then, on Friday, the airdrop happened.
When people pressed 'claim,' it activated two things: They were airdropped 8,007,320,330 $GREED, and their Twitter account automatically tweeted an embarrassing warning to others.
So what does this social experiment teach us?
First off, people on the internet love to try to make a quick buck.
For every lucky person who made a 5,000,000% profit on PEPE, thousands of people lose money to insiders, scams and trading bots.
The whole point of this project was to see how far people would go for the potential to make some money - the project was literally called $GREED.
The internet can be a dark and scary place.
The good news is, just like trading stocks, if you bet on crypto projects with solid fundamentals that add value to the world, the chances of scams are far less likely.