The best ways to make money are all written in the criminal law.

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Phyrex
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1 month ago

The best ways to make money are all written in the criminal law.

In the cryptocurrency field, the best way to make money used to be issuing tokens, and it still is. In fact, the artist missed a key point: contracts are not simple at all. The higher the leverage, the harder it gets. There are too many exchanges; I've even seen exchanges with 1,000x leverage, but basically, these exchanges are just making counter trades with users. The underlying code for such exchanges only costs $20,000, and it comes with maintenance.

Currently, the lowest and highest thresholds in the crypto space are both about issuing tokens. The lowest threshold is issuing a meme token, which doesn't even require knowledge of contracts; you can issue a token with just one click. Back in 2021, many "fake tokens" were issued on Uniswap, and the most interesting thing was the airdrop from Uni that year. Scientists could at most be considered second; the first were those who issued fake tokens.

Now, the difficulty of issuing tokens has become very low, but getting a token listed on major exchanges is still quite challenging, especially for meme tokens. It can be said that many of the memes in #Binance Alpha are from friends we all know. Issuing tokens with one hand and calling for trades with the other has become standard. In the past, calling for trades was done in communities, which was relatively simpler and more cost-effective. Now, the cost of calling for trades is much higher, and the cost of pumping is also significant. Moreover, controlling the distribution of meme tokens requires great caution.

A few days ago, a friend from a token issuance group chatted with me, lamenting that it has become increasingly difficult to issue tokens. If you can successfully issue 1 out of 100, that's already quite good. But that one successful token can basically sustain you for several years, especially after getting listed on Binance. Then you can sell when you need to, whereas before you had to go for spot trading; now futures trading is sufficient. If you can do both together, that's cash flow.

This reminds me of the peak of Ton, which should have been during last year's Token2049, where there were many token issuance groups and a sea of financial freedom, leaving behind a mess.

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