You didn't read it wrong; I succeeded.
In just ten minutes, I owned 100 million 'dollars'.
But don't get me wrong, I didn't earn this by trading coins, nor am I a middle-class person turning over.
I issued a 'USDT' myself.
That's right, you didn't misunderstand, I issued a counterfeit USDT stablecoin, and even the name sounds similar—at first glance, it looks like a relative of Tether, but in reality, it's just a coin 'created' by an ordinary person using open-source tools.
In this article, I don't want to play the victim or act mysterious, I just want to tell you:
> In the crypto world, wealth is just a string of numbers, and what you see as 'USDT' may not be the USDT you think it is.
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How easy is it to issue a 'USDT'?
The whole process is about 3 steps:
1. Open a token issuance tool that supports the Solana chain
2. Enter the name, for example: Ultra Stable Digital Token (abbreviated: USDT)
3. Set the total supply to 100 million, anchor price = 1 dollar, deploy!
Within minutes, I became the sole issuer and holder of 'USDT'.
If you scan the block explorer and see the wallet balance showing '100,000,000 USDT', it really is quite thrilling, especially at a time when everyone in the crypto world is shouting 'bull market'.
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So is it the real USDT?
Of course not.
My 'USDT' is not issued by Tether, does not have dollar reserves, and has no compliance audit. I only borrowed a name's shadow to create the illusion of a 'market value of 100 million'.
It can be:
Altcoins you can't understand
A 'mini-clone' of some phishing project
Or a 'community stablecoin experimental product' that I plan to seriously develop in the future
What is this like?
> Like generating an image of a $100 bill in Photoshop and then calling oneself a billionaire.
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Why am I doing this?
To be honest, there are two reasons:
1. Experiment with the 'illusion mechanism of the crypto world'
In this circle, you cannot underestimate the potential for any project to 'fake it'.
I want to see if I say nothing and just list a coin that looks like USDT on DEX, will anyone come to trade it? Will it be mistaken for an 'airdrop' or 'fork'?
2. I want to create a decentralized, ultra-transparent stablecoin prototype
Most 'stablecoins' are actually not stable:
Tether has reserve controversies
USDC has high regulatory risks
Algorithmic coins like Frax are also prone to decoupling.
I want to conduct an extremely simple 'stablecoin experiment':
Not relying on banks or US Treasuries, but on community consensus and on-chain mechanisms to stabilize prices.
Yes, it sounds very idealistic and very dangerous. But not every project has to start off as a 'god'; some coins might as well start honestly as a 'joke'.
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The absurdity of the crypto world: you can issue a coin in 10 minutes, but it takes 10 years to explain 'you are not here to harvest the leeks.'
Issuing a coin is easy, earning trust is hard.
You can arbitrarily copy a name, duplicate a contract, upload a logo, and then send it to DEX. But a coin without transparency, governance design, or community logic, no matter how much it looks like USDT, ultimately is just a shell.
This is actually my biggest feeling from this 'playful' coin issuance:
> In the crypto world, the biggest question is not 'can you issue', but 'how to survive after issuing'.
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So is my 'USDT' a scam?
It is currently just an experimental product, with no pre-sale, no private placement, no promises, and no hype.
If you are interested in the concept of a 'community-driven stablecoin', I will write detailed design documents later, and even open on-chain governance voting to let everyone design its rules together.
Of course, if you just want to know the contract address or have some fun, I won't stop you (laugh).
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Written at the end
I 'issued a coin' in 10 minutes, and my account shows 'having 100 million USDT'; it sounds like a joke.
But beneath the joke lies a world that is more real than you might imagine:
An opaque, extremely free financial gray area where opportunities and traps coexist
Even an ordinary person can, in some late night, issue something that 'looks like a mainstream coin'
A market that may skyrocket a thousand times due to a Twitter screenshot, and then return to zero the next day
If you are in this circle, I hope you always maintain a bit of clarity, keep some curiosity, and don't forget to guard against those 'too similar things'.
Including—'USDT'.
Continuing to fight alone, relying on luck to make money, will ultimately lead to losing by strength and being submerged in the market tide!
The market never misses opportunities; the question is whether you can seize them and follow the right people to survive long-term in the market and earn more!
Want to double your account, want to enjoy big gains, want to successfully recover your investment
Stay close to Sister Xin and position yourself for the main bull market wave!
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