TL;DR — No!
In case you've been under a rock, the MillionToken (MM) from Youtuber TechLead is the latest pump and dump to make waves. The coin itself has no utility and a stated USD $1.00 peg.
Personally, I missed the open for this token, so I only found out about it when it hit Coingecko's popularity list. By then, the coin had shot up to $200 USD. No way I'm getting in that. For everyone who did get it (and got out), congrats. I spent my time looking up projects that actually have some utility behind them.
But is the coin a scam?
No!
First of all, TechLead is a known troll of the crypto space. Most of his videos are troll-bearish on crypto, even as he posts troll-bullish video after video of his gains. His intro video for MillionToken is entitled "Not much to say..."
If you go to the website, you can see in plain (bad) English that MM has zero utility outside of community pump and dump schematics. I'm paraphrasing — if more people buy the coin, the coin price goes higher. Wow. Really? Revolutionary.
It's pure ponzinomics, but TechLead straightforwardly says it's ponzinomics, so there you have it.
But TechLead has a lot of Youtube subscribers, so he can definitely sustain the initial pump on a pump and dump play. He made no false claims about the MM coin, so everyone going in knew what they were getting into. A big community = a legitimate chance at a big pump on PnDs. And guess what — that's exactly what happened.
So a few people are going to come out of this in very good spirits. Like it or not, pump and dump is a very tradeable trading strategy in crypto. You should be happy. In traditional equities, only hedge funds had the ability to participate in PnDs. Now everyone does. This is a good thing, not a bad thing.
———
AlucardCrypto Telegram JoinUp Link ---> https://t.me/alucard0x
Once we hit 10K followers on Publish0x, we're doing exclusive AMAs. I believe that's a first here, so let's do it!
YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Why you should buy your Tesla (and everything else) in BTC ---> Why You Should Buy Tesla With Bitcoin
Find out why Chainlink 2.0 is a problem for your freedom ---> Why Chainlink Will Kill Crypto
Why Hexicans/Pulsechain Fags are Pieces of Fucking Shit ---> The Problem with the Hex and Pulsechain Community
