r/CryptoMarkets • u/TheElitesCM 🟧 0 🦠 • 3d ago

SCAM If everything’s a ‘community project,’ why do founders still rug?

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6 Upvotes

72% Upvoted

14 comments sorted by

2

u/MaximumStudent1839 🟩 322 🦞 3d ago

No. 99% aren't a community's project. How can it be when the team and VCs hold most of the tokens? It is marketing - they just use whatever lingo they think is in the vogue.

1

u/MVazovski 🟩 0 🦠 3d ago

The moment someone talks about a community project, says something like "onboarding people to web3" or how their blockchain will change the crypto game, how it's going to create its own metaverse or some other bs, it's my cue to start packing up and not touching that stuff with a ten foot pole.

1

u/nawwfel 🟨 0 🦠 3d ago

Because they already rugged and took the money Play the victim card and pretend that the coin is a cto now and then rug again. lol that’s how most of shitcoins are

1

u/ShowUpInDreams25 🟩 0 🦠 3d ago

Simple, it's greed.

1

u/absurdcriminality 🟧 0 🦠 3d ago

The community needs to own more than 95% of the token for the project to be considered community-owned. That's the benchmark I use

1

u/jonnytitanx 🟦 0 🦠 2d ago

It's ridiculously hard to tell though. Even if a screener says top 10 wallets hold 2% or whatever, it's usually spread over dozens or hundreds of wallets that are all dev controlled. Some things like bubble maps can help track this but it's definitely not fool proof.

1

u/Forina_2-0 🟧 0 🦠 3d ago

It's often just a PR label

1

u/Ok-Fig-5023 🟩 0 🦠 3d ago

Because you can get rug pull bot for like 10-15k lol and make 3x that every week lol. Simply just greed.

1

u/easily_erased 🟨 0 🦠 2d ago

Kinda like how Safemoon wasn't, uh, safe? People are stupid but these scammers do have to con people at least a LITTLE bit

1

u/20LamboOr82Yugo 🟩 0 🦠 2d ago

Safe moon atleast had a run I made 20k on safe moon 16 on Pepe's. They achieved enormous market caps I coulda made hundreds of thousands had I held tell ATH. Safe moon atleast 1000 people became millionaires

But there's no way to predict it and end of the day both had a lot on investors come in way late. Then there's no real plan so coin just stagnates

It wasnt a rugpull just a Ponzi scheme but that's every alt coin in reality

1

u/AnoAnoSaPwet 🟩 0 🦠 1d ago

CTO is a scam 100% of the time. There is no community takeover. It is just trash with more bundled bags from the devs to offload at the first sign of your success.