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🔸Dave Portnoy, the founder of Barstool Sports, is an American entrepreneur, blogger, and internet personality, best known for being the founder of Barstool Sports, a popular digital media company focused on sports and pop culture. He spoke at a conference about his experience with meme coins. He said he enjoys the thrill of gambling, but actually considers them more like bets than serious investments and does not believe they will last long.
Portnoy recounted how he got into this world, starting with a coin called SafeMoon that brought him legal trouble although he just mocked it. He then invested a lot of money in another coin that turned out to be a scam and lost everything. Although he was lucky to recover his money, he kept trying with other meme coins, even creating some satirical ones himself. At one point, he made a huge amount of money very quickly with one of them.
However, Portnoy realized that this market is rigged, with people who buy early and use programs to know when to sell and profit at the expense of others. This made him reconsider whether the hate and problems caused by the criticism from people who lost money were worth it. Although he joked about the idea of creating another meme coin, he admitted that the negative reaction from people affects him.
Portnoy believes that meme coins are basically a game of chance and a Ponzi scheme, although he does not necessarily say it in a negative way. He is not sure how long they will continue to exist, but he does not think it's something that will last forever. What do you think? Will memecoins continue to exist? I think so!…
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