In the current climate of S**tcoin Spring, a myriad of cryptocurrencies with Twitter accounts can easily lure thousands of traders into the game of meme coin musical chairs. These traders often let their greed overshadow reason, resulting in significant losses for many. This past week, a social experiment called GREED, from an individual in Croatia named Ivor Ivosevic (better known as Voshy), displayed the risky psyche within the cryptocurrency trading community.
Voshy created the GREED experiment to teach a lesson in internet security, with a touch of morality and sensibility. However, it wasn’t initially planned as a lesson on crypto’s dark side. Amidst the chaotic environment of rapidly created and destroyed tokens, Voshy wrote a tweet that would become the foundation for the GREED experiment.
After posting his tweet, Voshy planned to call out those gullible enough to buy what he deemed a nonsense token, but instead of receiving criticism, his follower count increased by 2,000 overnight. With newfound attention, Voshy decided to create a real token named GREED without any insider allocations, presales, or bot interference.
Despite Voshy’s warnings to potential investors about the dangers of their greed, the hype for GREED continued to grow, forcing him to create a token that could never be moved from the holder’s wallet. In doing so, he intentionally made the token appear sketchy to deter people from investing. However, this approach did not deter individuals with intense FOMO who were still willing to provide their Twitter permissions just to be a part of the next big thing.
The GREED airdrop brought the experiment to its peak when speculators who attempted to claim their tokens unwillingly tweeted a cautionary message about the dangers of greed. Through this, Voshy demonstrated the power of social media against vulnerable users who blindly followed trends and ignored warnings.
Now, Voshy intends to continue tweeting warnings from the accounts of the people who authorized him to do so. While he has faced some backlash, many individuals have noted the importance of the lesson they learned from his experiment. The true cost of the GREED experiment comes down to lost funds from bots, as well as the 120 Solana tokens forever lost. The result: a clear lesson in the power of greed within cryptocurrency and its impact on human behavior.
Source: Coindesk
