r/ethtrader • u/cavolfiorebianco • 3d ago

Meme Main Worldcoin dev mocks ETH’s performance while WLD is down almost 99% in just 2 years

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64 Upvotes

95% Upvoted

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2

u/qwertxyzabc 2d ago

Okay but wasn't the idea behind of WLD to be "sell your biological data for free money" (as fucked up as that is) which is why it will always be an inflationary asset that you would claim/mint to use it for buying other assets and therefore price go down is to be expected or even intended?

2

u/cavolfiorebianco 2d ago

both ZachXBT and Defi^2 concluded it is a scam and covered it extensively defining it as a low float high FDV scheme you can go read them for the insights in this (the rabbit hole is deep, insider trading, exploitation, etc... the usual). I think is hilarious that a dev from them even mention any other price action with negative notes, let alone an actual serious project like ETH. is like SBF posting about... well about anything crypto related lol

1

u/qwertxyzabc 2d ago

Yes. I'm just saying, the price isn't exactly the thing that I'd critique about it but what exactly it is and how dangerous this entire thing can be.

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u/cavolfiorebianco 2d ago

That is how it appears from the outside but all the money comes from selling the token and price is everything, the ID generates no revenue, if anything it may be the opposite of what it appears and the ID is the facade to push the token where the money comes from. If you read Defi^2 report on it you will agree that the price plays a big role in the exploitation, for example he reported that the coin was heavily marketed to Koreans even pre-lunch but the white paper was geoblocked in Korea and only published in English and inaccessible, and nobody knows English in Korea, the launch over there happened just at the tip of the pump (which was created by burning tokens). Then the supply release started flowing and that is why to this day the majority of bag holders are Koreans retails (u can find them in the comment on twitter even). This is just one of the many exploits they managed and where reported, is all in the open that is why I find the idea of mocking ETH by this guy hilarious.

1

u/cavolfiorebianco 2d ago

they blocked me XD

2

u/MakingitSnow2 2d ago

Wow I didn't think I would ever see the name Worldcoin again. What a failure

0

u/BearlyReddits 2d ago

I dgaf what Worldcoin is, but he’s not wrong - if ETH could ATH, that’d be great