So, the issuance of sh*tcoins of late is something out of the 2017 ICO craze, but atleast this time the exchanges are looking to cover their @ss since they are large "legitimate" businesses now.
The Screenshot I wish I grabbed...
The Shib Inu Coin
Yup, we have a spinoff of doge, though I don't even think it has anything to do with doge it is more so just a play of off the dog that is the now trademark of doge.
Disclaimer to trade....
So if someone goes on binance.com and brings up the shib/usdt market in order to trade it, you get an interesting pop-up.
This is the screen shot I wish I had snagged as I have not been able to recreate it.
So let me describe. The pop-up has a standard language paragraph about risk, trading and certain high risk assets.
Then below there are two questions. One of which says something to the tune of it not being more than 50% of your assets at risk.
The second is way more fun though!
It reads, if I lose all my money in this investment:
It is my own fault
Binance's fault.
You have to check one of the boxes. Obviously if you don't check my fault then it does not let you proceed.
Most epic disclaimer ever!
I have never seen a disclaimer like and I think it is hilarious. I may make one of these for when I am helping people onboard to DEFI.
It's your choice, your actions, don't come crying to me if you lose!
I mean, that is basically what that disclaimer says. EPIC!
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here's your scrreeenshot:
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Yessssss!
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hmm, good idea. maybe i will use this in general register/password change forms:
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That's brilliant! 😂
Now let's see what the copy cats come up with . . .
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i will definitely steal the idea :D
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Damn, I was hoping I could login and see that; nope :(
I do love Binance's questions which are like that, so I'm not completely surprised.
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Luckily someone dropped it in the comments!
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Fuck this is exactly what I was thinking this morning.
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This is the issue with crypto. People creating shitcoins and making money just let’s mainstream users think of it as a big joke!
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Lol I saw it yesterday and thought it was weird, I went ahead and put 10$ in it anyway
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Hahah, yeah I threw $50 at it too. Lotto ticket!
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I have been seeing that disclaimer a lot lately. Especially with some of these DeFi platforms. They are definitely doing everything they can to cover their butts. The only Doge I deal with is my lab mix at home!
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I guess I have seen this on binance before. people do need to take ownership of their decisions.
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The shitcoin mania is getting into full force which is honestly starting to worry me that we will soon repeat 2017. I know I said I wouldn't compare now to then but instead of ERC-10 shittokens we now have BEP-20 shit tokens springing up left and right with rug pulls etc. Totally agree though with a simple disclaimer like that it's your own damn fault don't blame others lol
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It's just more of the same growings pains on the path to legitimacy. Every new market and boom bust market has been the same. In short: "Examine any scam deep enough and you'll find an actual legitimate business. Scammers work too hard trying to scam."
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But, isn't the motto of the whole crypto world: "It's nobody's fault, but everybody's game."
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I would definitely check it's Binance's fault :)) Exchanges are all insider traders imo so they kind of carry a sort of guilt as well.
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This is epic hahaha
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Ha Ha Binance is truly the home of these epic disclaimers. The first time I move money to Cubfinance through Binance they had a similar pop up which said if you send Binance tokens to Binance smart chain by mistake they are lost forever and the choices were Binance is responsible and you are responsible. You can’t complete the transfer unless you check the right box... lol
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I'm going with the following disclaimer on my LeoFinance blogs:
"This is in no way financial advice, don't be a moron."
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This is a good standard for everyone to adopt.
!PIZZA
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Cool article
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Haha, these pop ups are helpful. A colleague of mine is failing the BSC quiz (you need to withdrawl from Binance to BSC) and has not yet burned all his money thanks to this quiz. But we'll see, maybe he'll still pass the exam and can spend his BNB on some shitcoins :D
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Me, too! lol
!PIZZA
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They didn't have "Not a financial advise" in the disclaimer? They are lacking!!! LMAO
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Hahaha, slackers!
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