Is every memecoin just a scam? Experts on whether Andrew Tate and Trump are fleecing their followers

https://www.theguardian.com/technology/2025/may/30/is-memecoin-scam-crypto-trump

by burtzev

10 comments

  1. >Is every memecoin a scam?
    >According to David Gerard, the author of Attack of the 50 Foot Blockchain: “Basically, literally, yes.”

    >“All of this is like a big game of pretend with made-up financial instruments,” he said. “It’s printing your own made-up money. You print your own Monopoly money and then people buy it from you for real money.”

  2. Yes. The answer is yes they are. PT Barnum would love the 2020’s.

  3. You’re saying this as if that was a real question lol isn’t it obvious?

  4. memecoins aka shitcoin … yes
    (un)stable coins … yes
    bitcoin … yes

  6. Answer: yes. Is there still shit tons of money to be made? Fuck yeah.

  7. Blockchain is an interesting technology. Meme coins are shitty brands. They are beanie babies with less benefits than owning beanie babies.

  8. They’re gambling instruments. People are gambling that they can get in and out and leave someone else holding the bag.

    I’m curious what you’d find if someone surveyed buyers of these shitcoin… My assumption is like 80% of the people are just trying to leave someone else holding the bag. The other 20% are mix of wanting to support the person and genuine low intelligence individuals who think there will actually be some sort of value to the shitcoin.

  9. Isn’t that just a rhetorical question?
    We all know the answer. Yes Andrew Tate and Trump are a bunch of scammers…

  10. Yes ofc, they don’t bring any value to the world. They can’t even function as a speculative asset because the coin itself isn’t even independent. 

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