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Cyberleek Burned 270 Milion dev coins (sh.itjust.works)
submitted 2 months ago by to c/piracy@lemmy.dbzer0.com
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[–] 4 points 2 months ago (2 children)

So again, I'm definitely not knowledgeable on the subject, but doesn't it take some start up capital to even launch a coin? I guess that initial cash isn't really 'buying' a coin, but if starting a coin costs $20 and you gave yourself 20 coins, didn't you essentially buy the first 20 coins for $1 a piece?

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  • [–] 8 points 2 months ago* (last edited 2 months ago) (1 child)

    Small network fee to deploy the contract. For a simple one, probably like $1. And this guy minted himself billions of 207M tokens.

    So sure, technically you'll need some "startup capital" but saying they bought the tokens suggests it was on the open market which isn't the case.

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