The original post: /r/cryptocurrency by /u/czlcreator on 2025-01-21 20:57:26.

I’m using Bitbond to create an Ethereum token called CZLumen.

There were possible limits based on options of the token, not knowing what I was doing, I tried to make this as flexible as possible. So I can mint, burn and change the owner. If I renounce ownership it basically just becomes another coin that’ll just, exist with no management. Which is neat.

I can add liquidity to the token by basically burning Ethereum as far as I understand, which can give it some value.

I used the site to create a sale of tokens. This lets users basically set limits that help with anti whale buy ins by limited purchase. Which is neat.

What’s really cool is being able to look at the risks with these coins. Overall, CZLumen has 3 risks, I own 8,999,999,900 of the tokens, 100 went off some where as I was trying to figure out moving the coins around and 1,000,000 is in a sale contract of $00.01 per CZLumen, with a max buy of $1,000, meaning that if someone did want to buy this, they couldn’t buy the whole stack and then control it.

Here’s another Look at the risk of this item here.

To try this out, I spent $20 dollars buying my own coin to see how it would work out.

The good news is, this isn’t free. So far I think I’ve spent over $400 dollars in fees and processes.

So far, my thoughts are that this really is just trusting whoever is holding the coin in terms of rug pulling, fraud or whatever. All currencies are based on trust and there’s kind of two major powers here. The owner and regulator of the coin, in this case, me, and those who own enough of the coin to control the market, at the moment that too is me.

Potentially, someone could basically buy shares of this and with enough ownership of the coins, create turbulence for holders by buying and selling in massive chunks. I honestly, don’t really know how I could manage that. It seems Ethereum basically charges for transactions which can help reduce this kind of fast and loose behavior, but I’m still learning about all this.

If you don’t trust the owner of the meme coin, I’d say don’t buy it. I’ve been messing with crypto for almost a decade now and meme coins seem to constantly rise and fall. Coins like Bitcoin seem to just keep rising up and up as time goes on which, I think helps with the above risk of whales ruining the market.

That’s all I have for now, good luck, feedback, thoughts are welcome.