PHcodebytes4u
Forum Expert
The squid game rug pull is a perfect example of the how amateur the market is and it's one of the cons of decentralization.
Shameless rugpull that only proves one thing: people is stupid. Imagine investing thousands of dollars on a coin without fundamentals only because it has the name of a mainstream Netflix show.Creators only took advantage of the hype, stupid people bought it.
I'm not endorsing regulation in a way that affects decentralization, but I do want to point out the cons of decentralization as many often over look that.
The squid game is an obvious meme trash coin that doesn't have any fundamentals like most coins in BSC network. The only reason people bought it is because they wanted to make money.
In a regulated market this wouldn't be the case, even if a coin was decentralized someone was responsible for the assets being bought and sold.
PancakeSwap couldn't delist the token because of the centralized nature of Dex. That doesn't make Dex inheritanaly a bad thing.
Dex is as bad of a thing as the internet, but unlike the internet people underestimate the security and chances of losing money in Dexes.
Pro tip: Always assume 99% of the coins are scams, you have to find reason to prove otherwise before investing.