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Teen creates memecoin, dumps it, earns $50,000(arstechnica.com)

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shoulderoforion@fedia.io
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Unsurprisingly, he and his family were doxed by angry traders.

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Furbag@lemmy.world
14 points

What I’ve learned from this article is that I should be creating memecoins because people are very gullible.

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boonhet@lemm.ee
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I’ve been considering it tbh… And I know what my target audience would be even. I just don’t know if I want to actually go through with it + if I do, I have to buy Monero with it or something so I could launder it, then somehow explain to the tax authority that I’ve suddenly got a bunch of crypto I’m selling… Though the last part might not be too bad, as long as I do TELL them that I’m selling it and want to pay taxes on it.

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Furbag@lemmy.world
1 point

Yeah, the tax man doesn’t care how you got it, just that they get their cut. Just don’t be stupid and not declare that income… They will know.

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