BITCOIN: ALT COINS are OT ₿ and rug-pulls are to be expected

https://www.coindesk.com/business/2023/05/22/bitcoin-pizza-day-turns-sour-as-meme-coin-shysters-profit-over-200k-in-rug-pulls/?utm_medium=referral&utm_source=feedly&utm_campaign=headlines

Finance

Bitcoin Pizza Day Turns Sour as Meme Coin Shysters Profit Over $200K in Rug Pulls

  • Meme coin traders poured capital into several pizza-related tokens on Monday as rug pulls put a dampener on the anniversary of the first purchase made with bitcoin.

By Oliver Knight  — May 22, 2023 at 11:24 a.m. EDT

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Bitcoin Pizza Day has taken a negative turn, with meme coin issuers profiting over $200,000 from pizza-related rug pulls on the 13th anniversary of what’s thought to be the first commercial bitcoin transaction.

According to data from dextool’s “live new pairs” section, there has been 14 pizza-related meme coins issued in the past 24 hours. Four have been confirmed as rug pulls, or schemes in which money is stolen from investors through any of a number of techniques. And at least five others are suspected of being so-called honey pots, in which an asset can be sold only to the contract creator, and purchasers are left holding tokens they can’t get rid of.

Bitcoin Pizza Day is marked on May 22. It dates back to 2010, when computer developer Laszlo Hanyecz bought two pizzas for 10,000 bitcoin.

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Hard to imagine that these sheep don’t get shorn.

And imagine paying for two pizzas with 10,000 bitcoins.  Unimaginable lack of foresight!

HODL.

—30—

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