2 Cents: MJF's crypto adventures

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Thelone
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2 Cents: MJF's crypto adventures

Post by Thelone » Sep 29th, '21, 18:21

I didn't want to dig up the old news thread, so let's do that here I guess.

I've been oddly fascinated by this because it looks like a quick cash grab and I'm more curious about what the outcome will be quite frankly. On the old thread, I predicted that MJF would be "out of this six months from now" and we're a little over half way there, so let's see how his crypto scam currency is doing today.

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Not very well to put it lightly. Keep in mind that it was a bit below $3 when I did my little research a few months ago. Sure, it does fluctuate between $1.50 and $3, but it doesn't seem like it'll go anywhere but down because there's the less obvious trend in the Activity tab.

During this september, people bought new MJF bucks for a whopping $147.50, which is probably not even pocket change after the site's cut and whatever else there might be. People still exchange the thing on the site itself, but it's fair to say that those who get MJF bucks now are mostly speculators trying to make a quick buck and those who sell them are the same speculators cashing out or early buyers getting out (very much at a big loss). This is where it's doomed to end up unless MJF starts to promote it again (which I very much doubt at this point) or the site itself gains massive traction in the near future, which also seems unlikely considering MJF looks like the most well known person on the site, but then I'm very much not up-to-date with current pop culture, gaming "personalities", and random "entrepreneurs" (stunning I know). The only other person I know is Felicia Day (mostly faint memories from mid-to-late 2000's web series/"TV"), but she doesn't seem to do much nowadays besides, you guessed it, stream on Twitch and do some podcasts.

My point here is that I'd put MJF's little... experiment here slightly above Jarrett's GLOBAL FORCE GOLD bullshit, but well below what most half-relevant female wrestlers do on OnlyFans/Patreon (overcharge and make decent bank during the first couple of months, then it dries out pretty quickly because most people aren't paying premium prices for regular Instagram content). You could say that he's fully living the gimmick and found a way to screw the fans out of some money (like BRM said back then), but... he actually did with a good ol' pump and dump scheme. Sure, he didn't force anobody to buy into it and crypto shit tends to be a high risk investment anyway (and newer stuff is even worse), but it does feel more shady/scummy and less "great heel work, livin' the gimmick 24/7" after a few months. I still say that MJF will be out of this in the near future, especially since he's probably earning next to nothing already after the initial rush.

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cero2k
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Re: 2 Cents: MJF's crypto adventures

Post by cero2k » Sep 29th, '21, 19:19

I think it was just a gimmick, I don't think they ever intended to make actual money out of it
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Thelone
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Re: 2 Cents: MJF's crypto adventures

Post by Thelone » Sep 30th, '21, 11:09

cero2k wrote: Sep 29th, '21, 19:19 I think it was just a gimmick, I don't think they ever intended to make actual money out of it
This is gimmicky for sure and I don't know why it's even a thing quite frankly, but Rally is a real site involving real money, so I doubt he's not getting anything out of it. I do hope his intent wasn't actually "hey, let's scam people out of money with whatever this is and I can always get away with it because I'm a heel", but it's hard to tell honestly. That's why I'm more curious about the aftermath and keeping an eye on it.

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Big Red Machine
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Re: 2 Cents: MJF's crypto adventures

Post by Big Red Machine » Sep 30th, '21, 11:25

Thelone wrote: Sep 30th, '21, 11:09
cero2k wrote: Sep 29th, '21, 19:19 I think it was just a gimmick, I don't think they ever intended to make actual money out of it
This is gimmicky for sure and I don't know why it's even a thing quite frankly, but Rally is a real site involving real money, so I doubt he's not getting anything out of it. I do hope his intent wasn't actually "hey, let's scam people out of money with whatever this is and I can always get away with it because I'm a heel", but it's hard to tell honestly. That's why I'm more curious about the aftermath and keeping an eye on it.
I completely agree that I hope his intention isn't to scam people, but in the other hand,I just don't understand what kind of person would buy this in the first place, especially for a heel. Such a person is going to get scammed by someone at some point, and I rather it be MJF than someone laundering money or doing it to give money to terrorist groups or whatever.
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Thelone
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Re: 2 Cents: MJF's crypto adventures

Post by Thelone » Oct 1st, '21, 18:51

Big Red Machine wrote: Sep 30th, '21, 11:25I completely agree that I hope his intention isn't to scam people, but in the other hand,I just don't understand what kind of person would buy this in the first place, especially for a heel. Such a person is going to get scammed by someone at some point, and I rather it be MJF than someone laundering money or doing it to give money to terrorist groups or whatever.
When you put it that way, yeah I guess it's better to lose some money to a celebrity you know and most likely appreciate than some bullshit Nigerian prince or whatever scams are these days, like those dozens of packages I have to pick up according to my spam folder.

In all honesty, I think the issue with this crypto token stuff (and... mostly anything nowadays) is that you have to keep it relevant by plugging it regularly on sOcIaL mEdIa or whatever, which does explain the sheer number of Twitch streamers on this thing. MJF is very much the anomaly actually with a big bump when he made it public via Twitter, then a huge drop and pretty much flatline since then, only because he never acknowledged the thing after launch.

Again, that's kinda why I'm keeping an eye on this thing and looking it up from time to time. The most likely outcomes are waiting until most people have forgotten about it and quietly leave the site, or just keeping it around for the lulz and earn very little from it. The only mistake he could make really is coming back a few months from now with "didn't you buy my coin yet?", because this will go south quickly and he'll come off as an actual greedy fuck who's just trying to milk his fans for more. MJF seems smart enough to avoid the obvious trap, but we'll wait and see.

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Thelone
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Re: 2 Cents: MJF's crypto adventures

Post by Thelone » Apr 16th, '22, 05:00

Update (kinda)



Hey look (who wouldn't, ok no), Cargill is now in the Totally-Not-A-Scam crypto token/NFT business. And then people are wondering why WWE is so strict with their wrestlers' outside business ventures (and yes, I know they're also doing NFTs).

As for MJF's coin, it's at *checks* $0,564 today. Pretty much dead at this point with a mere $80 spent on new bucks in 2022 so far.

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