I read a few times now that she is not a US citizen, comes from a wealthy family, and the interview that catapulted her to fame was a paid for event staged to look spontaneous.

No idea if any of that is true but the crypto Ponzi scheme makes me think it just might be.

Hungry Ojos said:

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That seems like sour grapes more than anything.

"Hi daughter, we are wealthy and high class, but I have an idea that will even catapult you farther into life! We're going to stage a street interview where you act like a whooore and show people how to give a proper old fashioned, then we'll watch the money really pour in!"

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I doubt the father was the driving force. More like

"Daddy I want to be a famous Internet personality, give me some money please to help make this happen"

But like I said. I haven't spent any real time trying to figure out if it's true.

I don't understand why she's even famous. She's a 6 at best with a decent personality. She'll be irrelevant in short and then start doing OF.

98Ag99Grad said:

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dafuq is a meme coin?

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You know how the US dollar is just paper backed by the full faith and credit of the US government? A "meme" coin is digital monopoly money backed by the full faith and credit of the person who invents it. Not redeemable for anything, not backed by any asset, only worth what someone will pay for it. In this case, only what a bunch of idiots who think they're investors will buy it for before the market gets flooded by reserve quantity.

She pulled a boiler room scam without even a shell company to back it up, essentially.

Pump & dump

Hungry Ojos said:

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Stupe said:

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Gaeilge said:

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Hungry Ojos said:

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Can someone explain all of this to me like I'm five? What she did and how everyone got screwed?

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Created bull**** memecoin. Held ~97% of volume back from market. Ran 3% up. Dumped x% of the 97% when enough stop-buy bids were present to rake in stupid money. Made millions in fees. Coin crashed. Coin worthless. Idiots on internet lost millions.

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Ok

Explain it to me like I'm three.

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I'm right there with you.

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I'll take a Kindergarten level stab at this...

Remember Game Stop and it's crazy runup?
Now, forget for a bit about the hedge fund that had tremendously shorted a stock in a physical brick and mortar company. Pretend that half of the equation doesn't exist. But there's the internet, and SnapChat, and Reddit, and I'm sure some other platforms... And they got GME all pushed higher and higher. Was there anything in GameStop from a brick and mortar standpoint that justified the runup? Heck no. Not in their current form. BUt some people on the internet were encouraging further buying and (in crypto parlance -- similar to HAT or MOAR on TexAgs boards) HODL, HODL, HODL (Hold)! There was absolutely nothing backing that runup and eventually the holders sold because, Dear mother of sweet floating baby Moses, who wouldn't eventually take advantage of such a run up?

Well GME was a "Meme Stock." Well this is a "Meme Coin." There's even LESS backing it than game stops brick and mortar or the underlying collapsing hedge fund. The ONLY thing "backing" this meme coin are some 1's and 0's on the internet.

Imagine paying for porn then trying to resell it when everyone else can just download it for free. But fools and their money are always parted.

Oh, and as others have said. Once some of these digital "coins" were out and owners were "Hodl'ing, the creators apparently flooded the market with their holdings and crashed it. Of course the initial buyers paid in fiat or perhaps a coin with a greater, and more stable, perceived value and thus able to be converted to fiat. I know you can buy, for example, BitCoin with real US Dollars and there is a process to somehow convert those BitCoin BACK to USD.

One of the best ways to launder money though

That wasn't a good kindergarten take.

Imagine you have 10 stickers. You say you only have 3 stickers. People bid and buy the stickers as if there are only 3. You then dump the other 7 stickers into the market you held back once price gets high enough.

Think back to supply/demand curves, lower supply leads to a higher intersection on the price point. When you sell the extra stickers you don't announce that you did you just create the volume. Easier to do with just a fictitious coin. Then voila there is asymmetrical market information and once you brought the new supply the value should have crashed but that will only occur after you have sold off your hidden supply. Creating $$$$ for you.

Waffledynamics said:

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Imagine being simultaneously wealthy and foolish enough to fall for this.

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I'm pretty sure someone gave Cuban the coins. He didn't buy them. If the price drops to zero, he's not out anything.

People know what they're getting when they buy these meme coins. They know they're a joke. They're hoping that the get the timing right when the go viral and they do a 100x on their money. Most investors are only throwing in a few hundred bucks and they're fully prepared to lose it all.

It's like betting a 10 leg parlay. You don't bet much and you don't expect it to hit, but you do it anyways because it's fun and if it hits, it pays huge.

Kenneth_2003 said:

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Except there actually are no stickers. Just computer code for imaginary stickers.

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Yeah but a kindergartener likes stickers so i used that.

Stmichael said:

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98Ag99Grad said:

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dafuq is a meme coin?

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You know how the US dollar is just paper backed by the full faith and credit of the US government? A "meme" coin is digital monopoly money backed by the full faith and credit of the person who invents it. Not redeemable for anything, not backed by any asset, only worth what someone will pay for it. In this case, only what a bunch of idiots who think they're investors will buy it for before the market gets flooded by reserve quantity.

She pulled a boiler room scam without even a shell company to back it up, essentially.

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this sounds like the dumbest thing you could ever spend your money on. if you lost money on this, you're an idiot.

Captain Pablo said:

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98Ag99Grad said:

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dafuq is a meme coin?

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A crypto currency

It's really nothing except a "thing" you buy and hopefully it appreciates in value. What's the value? Nothing, other than what somebody will pay for the thing, that they can't do anything with

It's about like beanie babies, except without the stuffed toy to throw in the trashcan

In a typical rug pull, the creator creates the "thing", sells a percentage of it, retains a percentage of it, watches the price go up because idiots just have to have that "thing" (or "thang", as the case may be), and then dumps the retained "things" at the higher price

Simple really

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I understood this example. Thanks!

98Ag99Grad said:

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dafuq is a meme coin?

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Something someone buys when they want a Bitcoin but have no idea what a Bitcoin is

So did she create this, or did she just agree to be a part of it?

captkirk said:

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One of the few things in life that I am absolutely sure of, is that I will never fall prey to a financial scam involving the hawk tua girl.

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Maaaayyyybe her better looking friend tho

BBRex said:

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So did she create this, or did she just agree to be a part of it?

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She may have come up with the idea but no way in hell did she know how to set up her own cryptocurrency.

texagbeliever said:

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That wasn't a good kindergarten take.

Imagine you have 10 stickers. You say you only have 3 stickers. People bid and buy the stickers as if there are only 3. You then dump the other 7 stickers into the market you held back once price gets high enough.

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Muy said:

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BBRex said:

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So did she create this, or did she just agree to be a part of it?

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She may have come up with the idea but no way in hell did she know how to set up her own cryptocurrency.

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Bingo.

And those people even made more money than she did.

Dicer said:

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AggieKatie2 said:

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A fool is born every second.

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glorified penny stock

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I bought some penny stocks back in the day. I remember paying like 6, 10, and maybe 13 cents for some, then selling them later in the 20s and 30s. OK return but the larger commissions back then ate up the profits. Had I had more than just hundreds or a few thousand to invest, I might have made a lot more money. After taxes, I probably broke even. But it was a good learning experience.

Crypto? I wouldn't give you the junk in the bottom of my closet that I've put off throwing out for that.

This advice still holds true: if you don't know the inner workings of the investment vehicle you are looking at, stay the hell away from it, or give your money to someone that does.

I say this as someone that was gifted $100 in bitcoin awhile ago, and it's now "worth" over $2,000, supposedly.

bmks270 said:

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Coffeezilla grills them.
Love that guy in YouTube. He's also an Aggie.

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Had no clue he is an Aggie. I've been watching him for a while now. He has some good info and shines light on a lot of shady stuff.

Muy said:

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BBRex said:

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So did she create this, or did she just agree to be a part of it?

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She may have come up with the idea but no way in hell did she know how to set up her own cryptocurrency.

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Oh, I'm sure someone sold her on "capitalize on your internet fame while you can" when she has no understanding of how finances and investment work much less cryptocurrency.

I really wish there had been video and not just audio of the call. The caller starts criticizing the launch and she's all attitude with "then why the eff are you on the call". Then the other guy starts a long-winded explanation for how the obvious scam wasn't a really a scam.

It would have been interesting to see the expression on her face while the call went on, like did she ever realize she's going to get her ass sued. And potentially going to jail.

Fuzzy Dunlop said:

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bmks270 said:

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Coffeezilla grills them.
Love that guy in YouTube. He's also an Aggie.

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Had no clue he is an Aggie. I've been watching him for a while now. He has some good info and shines light on a lot of shady stuff.

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wow didn't know that. He's go a chem eng degree

Dicer said:

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Fuzzy Dunlop said:

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bmks270 said:

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Coffeezilla grills them.
Love that guy in YouTube. He's also an Aggie.

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Had no clue he is an Aggie. I've been watching him for a while now. He has some good info and shines light on a lot of shady stuff.

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wow didn't know that. He's go a chem eng degree

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Some video a long time ago he was wearing an Aggie ring.

the fame and success of Bobbi Althoff and Hauk Tua girl -- both basic ******s that are maybe 4-6's, generously, in the looks department, and 0 in the personality department, continue to fascinate me.

what is the obsession with these boring, forgettable people?

[No need for the obscenity -- Staff]

Extended video from coffeezilla's side. The best part is 19:28 when she bows out. It could be her finally realizing she is in over her head, but quite frankly it sounds like a cartoon voice. I'm wondering if it is really her or something AI generated.

Before this is done she's gonna wish she never quit that job in the spring factory. I've watched a couple of her interviews and she's basically a box of rocks so there's no way she has a clue what's going on with this. But even Bill Maher warned her against scams like this coming at her.

Madman said:

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I read a few times now that she is not a US citizen, comes from a wealthy family, and the interview that catapulted her to fame was a paid for event staged to look spontaneous.

No idea if any of that is true but the crypto Ponzi scheme makes me think it just might be.

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Talk about a sucker born every minute. Yeesh.

torrid said:

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Extended video from coffeezilla's side. The best part is 19:28 when she bows out. It could be her finally realizing she is in over her head, but quite frankly it sounds like a cartoon voice. I'm wondering if it is really her or something AI generated.

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Learned more that I never needed to know about bitcoin.

People are stupid and unfortunately there are so many soulless people out there to take advantage of them.

It's sad really.