There is this story about a man who came to a village and told everyone in the village that if they could get monkeys for him he is willing to pay $5 per monkey, of course it’s easy for them to get monkeys so they went ahead to captured a lot of monkeys and sold to this man for $5 each. Now the amount of available monkeys in the village has decreased drastically, the man went forward to say he wants more monkey but at $10 per monkey. Being that this man has bought monkeys for $5 per monkey in the past, the villagers went ahead to look for more monkeys and sold to this man at $10 per monkey. It was getting really hard to see monkeys in the village as most of all the monkeys have been sold to this man.
source
The man came forward and said he was willing to buy more monkeys at $50 per monkey since the supply of monkey is very scarce and limited, but by this time there is no monkey in the village to catch and sell to this man. All of a sudden they came another man who came to the village to tell the villagers that he knows a monkey seller in a village who sells monkeys at $30, they could buy these monkeys at $30 from this monkey seller in the other village and sell it to this man for $50. That seemed like a very smart idea right, that was going to be a quick easy way to make extra $20, the villagers jumped on it, some bought a lot of monkeys because they wanted to make more money. Imagine someone buying 100 monkeys because they wanted to make $20 extra profit each per monkey.
After they had finished buying the monkeys, their village was filled with monkeys again but this time the man who promised to buy their monkeys for $50 didn’t come back, he was no where to be found. Turns out that the man and the other village monkey seller and the announcer of the other village monkey seller were all scammers, they had planned it all along. The villagers now have their monkeys back but lost $30, in a way, they lost $15 because the man once bought all the monkeys for $15 before they were unavailable. Well, this is how some cryptocurrency meme tokens act.
Posted Using InLeo Alpha