The Chaotic Context of Cryptocurrency
Dave Portnoy, founder of Barstool Sports, is known for his risk-taking style. At Consensus 2025, he and Bullish CEO Tom Farley opened up the chaotic world of meme Coin, providing a realistic view of its highs, shocks, and absurdities. Portnoy bluntly stated: 'I don't think meme Coin will last long', even though he had previously enthusiastically supported it.
Volatility and Lawsuits
Portnoy's meme Coin story began with FOMO. He was drawn in by profit claims of '9,000,000,000%' and invested in SafeMoon, then faced a lawsuit. 'They said SafeMoon paid me to promote, completely false. I lost $20,000 to get out of the lawsuit.' Instead of backing down, he doubled down.
The Adventure With Greed Coin
Portnoy launched Greed and Greed 2, while also having JailStool, a parody Token. He claimed to have turned $1,000 into $7 million in an hour. But the reality was brutal. In Vegas, an angry person confronted him for losing $200,000. 'This is really not just a game,' he said.
Why Bet on XRP?
Now, Portnoy has turned to XRP. He admitted at Consensus 2025 that his interest was not due to fundamentals but because of the FOMO feeling. 'XRP is only $2.40. What if that’s the next Bitcoin?' He did not provide technical reasons but was attracted by the price and the potential to explode like Bitcoin.
Meme Coin: Confusing Yet Noteworthy
Meme Coin is often dismissed as a joke or a scam. However, they reflect how the financial market operates: speculation, hype, community, and chaos. Tokens like Dogecoin and Shiba Inu started as jokes but have become vibrant ecosystems. Harsh criticism often overlooks their role, and meme Coin is indeed a lesson in market psychology.
Source: https://tintucbitcoin.com/meme-coin-rui-ro-tien-dien-tu-tuong-lai/
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