Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out (cointelegraph.com)

submitted 11 months ago by Moonrise2473@feddit.it to c/technology@lemmy.world

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This is genius.

Nobody wants to buy your crypto phone? Your warehouses are full and bills starts piling? Just create some monopoly money and give it to who buys that phone.

So now crypto is not only wasting the electricity for the most inefficient payment method ever created (for Bitcoin it takes a whole day to verify a number of transactions that Visa/Mastercard can do in less than a second) but also producing and shipping a phone all around the world, just for getting that monopoly money, then immediately trash the phone

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[-] Warl0k3@lemmy.world 44 points 11 months ago

What in the good goddamn does that headline mean. I'm not old enough to be this baffled.

[-] Moonrise2473@feddit.it 29 points 11 months ago

Solana (a company that created a crypto coin) created a $700 smartphone dedicated to crypto and other shitcoins. It was a massive failure. Nobody bought it. Until they created a new coin from thin air, and gave that for free to phone owners. Suddenly everyone wanted to buy the phone as you could get $900 by getting buying the phone, getting the free coins, immediately sell them, throw the phone.

Video review of the phone https://www.youtube.com/watch?v=hRSMJGs0YMg

[-] maynarkh@feddit.nl 6 points 11 months ago

immediately sell them

Who the fuck is buying these? Who is the counterparty to this idiocy?

[-] BurnedDonutHole@lemmy.ml 1 points 11 months ago

However is still falling for the ponzi schemes and phone scammers, basically gullible and naive people.

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this post was submitted on 20 Dec 2023

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