Isn’t that a conflict of interest?
this post was submitted on 18 Jan 2025
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Having an ETF doesn't make you real. Being Bitcoin makes you real.
I wish there was a better metric at the moment, but there isn't.
$25 billion, in paper. The value will be down to zero way before he manages to sell off even $1 billion from it. And thats a generous guess. Meme coins don't retain value.
Making ANY money this way is outrageous, but we sooner solve world peace and world hunger than Trump being able to sell this off for the current paper value.
Yeah I feel as though he won't get that amount of money either and making any money is also outrageous.
I feel like the biggest pressing issue here is that this is not meant to go to the moon and stay there. Instead I think the real motive is to make inflation. Look at it, it's not meant to gain that amount of value, it's meant to skew our perception of value. This way the current inflationary prices don't look out of place when, in reality, everything is over valued. I guess it is also meant to make some people more complacent to inflation by giving them hope of "there being a chance" even though it clearly details how screwed over most of them will end up in the end compared to the house/dealer. Gambling is and will always be a big problem that adds more pressure to an otherwise unhealthy economy.
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Holy shit, inb4 he pumps and dumps and avoids jail cause of presidential immunity
Is that even illegal yet?
Pump and dump schemes? Yes, according to earlier incarcerations
For stocks, yes, but crypto is basically unregulated as far as I know.
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Trump holds 80% of the supply. This is going to be the biggest rug pull of all time. Americans are literally getting shitcoin scammed by their own presidents holy shit what a timeline.
Honestly, I won't forgive Biden for just smiling in response to Trump winning after not leaving 4 years sooner. Before anyone asks, I voted for Harris, so don't shove that narrative down my throat.
The tankies are getting REAL close to just outright admitting they wanted Trump, so there's that.
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Honestly, it's kinda impressive that this scheme still works in 2025. How low can people go, I wonder.
Just means more rugs need to be pulled until idiots have no more money to waste.
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This is money from foreign governments and corporations buying influence. It has nothing to do with “Americans”.
There are plenty of Americans that will buy this coin and lose money.
I'm sure there's still a plenty of idiots buying these.
Yes, to the tune of 10s or maybe a couple 100s of millions of dollars. But now Saudi Arabia can come in and buy a billion worth of the coin as a direct donation to trump with zero oversight. This is open corruption on a scale we simply haven't seen before.
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America will have a law about this probably by 2070, after many more generations of Americans lose money to those scams and the legislative finally has people who understand technology to write laws about this
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Dear god, please let donald trump choke on a piece of potato and die. Amen 🙏
Really sucks that I, an atheist, acknowledge that I can do nothing more impactful than pray Trump dies soon.
Also, it's a bummer that there's no eternal punishment waiting for him.
It's easy to think that crypto is over. The NFT bubble is so deflated. We've seen big companies like FTX bomb the hell out. I mean, the signs are obvious now, aren't they? Crypto was, conclusively, proven to be the scam everyone said it would be and we don't need any more proof, right?
And then we hear Trump administration is really into this crypto nonsense.
Somehow.
Guess they didn't get the memo.
Brace yourself for 4 years of spectacular, glorious fail.
And if someone says stuff like "oh, Trump just got filthy rich off of the meme coin he launched yesterday", let's wait and see how the coin does at the end of his administration.
Or in 6 months
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Fuck, I just looked at this yesterday and thought why not put a few monies in. And then went to sleep without doing anything.
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lol crypto is worth jack shit. I can just keep sending the same money to myself and it would cause the price to go up...
This isn't your everyday crypto scheme.
This is foreign bribes being laundered.
This right here is the right answer. Trump just created the ultimate bribing machine for himself.
That's not how markets work...
it's how crypto markets do. Since anonymity is a feature, any transactions will increase its value due to it being "used" more
No, because that would be an infinite money glitch, everyone would be rich... (that uses crypto).
It's actually very simple basic market-economics, and independently of anonymity, you buy, you'll drive the price up, you'll sell, you'll drive the price down. It's slightly more complicated, because it involves makers (they set the price at which to sell or buy) and takers (which take the offer by the maker) and psychology (e.g. promotion on youtube to drive the price up) and obviously increasingly algorithms. But in general it's still demand and supply, anonymity doesn't have anything to do here apart from being more prone to scams. Take Monero as example one of the most anonym cryptos but still fairly stable (in crypto terms).
So to drive the price up, you either have to have some kind of good promotion (which at the end is just money from someone else), or a lot of money yourself.
the value of a cryptocurrency is based on its perceived value. Perceived value is based on market activity. If I keep sending money to myself it just shows up as market activity, with nobody being able to tell i sent money to myself.
gdp works this way too btw. I sell you $1 worth of stuff, you sell me $1 of stuff, nobody is any richer but gdp went up by $2. Except we can filter this kind of abuse out because it's not anonymous.
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I hope everyone is acutely aware that you, me, WE are not in a class war.
WE HAVE LOST A CLASS WAR.
What happens now?
Now we wait til it gets so bad people stop going to work, in unity.
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