No sympathy. Fuck everyone who paid Trump for this shit, I hope they needed that money.
Yeah same, I really really really wish a necessary and life-saving surgery they now cannot afford to each and every wanker that paid into this crap.
Don’t worry, the DOJ under President Trump wl prosecute those responsible.
Namely the reporters making these allegations.
The first I heard of Trump’s memecoin was a headline declaring it was worth $25 Billion. I’m a pretty online person, so I tend to hear about these things pretty quickly. The article said it was worth $9 billion in 12 hours.
$9 billion is an unimaginable amount of money for any number of people to decide to “invest” in under 12 hours. The only way I can explain that happening is if many, very wealthy people, had been notified about the coin going up for sale ahead of time and wanted to curry favor with Trump.
What a fucking embarrassment this country is.
People have not actually put $9 bn into it. The value is crudely extrapolated from price and volume, but there’s nothing actually there.
This is not a rugpull but a readjustment. The purpose of this coin and Melania’s coin is to get around laws preventing foreign sources from donating to or bribing Trump.
Well yes and no. It’s a way for foreign countries to launder their bribes. They “buy” the coins knowing he will get the money. The quasi-rug-pull part is him extracting the laundered money. Everyone, except his shit-head followers, understands this.
I suspect this coin might not be a complete rugpull though. I suspect the rugpull cones at the end if his term or when he dies whichever comes first.
This is the Rug Pull Administration, after all. Might as well kick it off with really, really big and obvious grift.
Who cares? He’s gonna get away with all of it
Unless and until he is stopped. I wonder if anyone is trying to take down the exchange?
Nobody launders money like Donald Trump. Simply the best
This is a clear and obvious pump-and-dump. Anyone that falls for this deserves to be fleeced.
I agree they deserve to be fleeced. I just don’t think he deserves to get the money.
I mean its a premine
Every crypto is intended as a rug pull
Jimmy Carter sold his fucking peanut farm, and now this is the point we’re at.
And doesn’t get his 30 days of mourning. Because Carter can’t even get a fucking break after he dies.
Everyone should post nothing but Carter and King tributes today instead of talking about the coronation.
Ee-ay-ew-ay-o?
lol who’s still holding this shit
“Let me tell you, folks, this, what we’re seeing right now, it’s HUGE, okay? I mean, some people are saying—and I don’t know, but they’re saying—it could be the biggest rugpull in the history of rugpulls. Tremendous potential. Absolutely tremendous. Nobody’s ever seen a rugpull like this before, believe me.”
…And that’s not the Onion? Looks like she is laughing so hard at the idiot peasants getting rug-pulled already in that pic.
And also: “you can buy Melania”? Um, phrasing?
We already knew that. Or at least, rent.
Sometimes I wonder what it must be like to go through life without a sense of shame.
The sci-fi books/series “The Expanse” features a rogue lab where all the scientists got the part of their brain responsible for empathy intentionally destroyed.
I sometimes think about that and wonder what it would be to be like that. How easy it would be to make a ton of money. And how sad it must be for these people to live only for themselves.
A friend and I were discussing this. It seems like these days it’s more rewarding, objectively, to be a shitbag than to actually be a good human. We’re constantly being played for suckers despite having morals. Everyone else is cheating in this tragedy of the moral commons.
It has always been like that.
I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.
There’s a selection bias, we usually hear about the most successful shitbags. Most ordinary shitbags live pretty terrible lives. Just look at the life of the typical red state resident. Usually working their ass off in a blue collar for some plutocrat who abuses them, subjected to country music all day long. Almost makes me feel bad for them.
There have been studies done that show that the prevalence of Dark Triad traits rises, the higher you look in a hierarchical structure. C-suites have roughly three times the prevalence of these traits compared to the general population. The selection is being done by the system.
Other societies (as an anecdotal example, the Inuit) have ways of removing such individuals from the population because of the damage they do to group survivability. Take one out ice-fishing, push him in the hole, 3 minutes later, problem solved.
Most ordinary shitbags live pretty terrible lives
Same goes for most ordinary non-shitbags.
The point is, just because one shitbag gets away with it, that shouldn’t motivate you to also become a shitbag.
I hope you don’t think this is just a recent thing…
Enter the church
At some point there will be a correction and history will not look kindly on these people.
I don’t give a toss what history will do. It’s up to us.
Dude people have been waiting for that since before Jesus Christ.
Victors wright the history books my friend
It actually seems like it feels pretty great. The downside is you’re probably some degree of sociopath or other disorder. But I’m neither qualified nor experienced to diagnose.
Maybe, but neither Trump nor Melania look like they feel great.
Isn’t calling it a meme supposed to be the quiet part? I thought we called them “meme” coins because everybody was in agreement that the coin wasn’t meant to be taken seriously?
Nah, you call it a meme so everyone doesn’t look at it too closely.
It’s like the typos in scam emails and texts.
The people that would actively investigate such a thing dismiss it immediately.
The stupid people buy right into it.
Smellania?
Smellania and Strump, shitting in a stree.
I think Elon has already bought himself a bit of Melania…
He’s more interested in doggy trump
Nah, that’s just his current pet. Once he doesn’t find a use or loses interest he’ll move on. Maybe he’ll stay close to usurp the cult once Trump croaks.
I can’t not see Smelania now.
Smelania? That’s not very nice.
Please correct me: is this nothing but entirely fake money?
Pretty much. You can make 1001 cards with your signature and a number on them, sell 1 of them for $1000 to your best friend, then say you’re a millionaire now because you have 1000 cards left each worth $1000.
That’s how cryptocurrency market caps work.
This was a blatant way to allow people to donate to Trump while skirting existing campaign finance laws. Get his buddies to buy his meme coin for exorbitant prices, and now he gets to keep the money because he “sold” something and it’s not a bribe.
I read your comment, thought it’s impossible that you’re right, and took a beat to verify. You’re entirely correct. Crypto truly is this stupid.
The same method is used to determine market cap of publically traded companies. Whatever the most recent trade price was * total number of shares = what the company is supposedly worth.
Non-rigged markets tend to also require a minimum trade volume, restrict insider trading, and keep a close watch to prevent pump-and-dump and similar scams.
Clean, open markets are regulated. That’s why the scammers to go the crypto markets: they’re opaque, rigged, and free of those inconvenient fraud-prevention rules
Great! Now we need to fix the tax code so you have to declare that as income, and it’s taxed progressively. That would pretty quickly put the kibosh on these scams.
Short term capital gains already are taxed as income. I doubt anyone is holding these rug pull coins for more than a year.
It’s like those terrible celebrity endorsed/named perfumes and other product.
Being sold like stocks
But with no physical product even a shitty one
All money is “entirely fake”. The only difference is how big the value fluctuations are and to what degree you can exchange it for other currency. Crypto has a big problem with the former and minor problems with the latter, but generally speaking it’s not much less real than, say, the US dollar.
When the value of your money is only measured by how much of a different currency you can exchange it for, and not it’s actual purchasing power (which is 0 for 99.9% of all cryptocurrencies) then it’s essentially fake money. Literally no different than the monopoly money Luigi was carrying around with him.
The Democrats should issue a statement that they will ban this shit as soon as they’re back in office. See what that does to the market cap.
But they won’t because they are fucking spineless and have no fight in them.
the Covfefe in Chief will never allow another Democratic presidency
Never’s not a very long time for someone who’s 78 and in his condition.
You mean the billionaires who own Trump will never allow another Demicratic president nor Congressional majority. Rule of law and democracy, even the pale shadow of democracy we had, in the US is dead.
It’s only dead when we surrender or are killed. Quit whining and start organizing and training.
You can’t pay taxes in crypto.
I’m pretty sure people in the EU can’t pay their taxes in USD either, but it doesn’t mean the US dollar is fake. Or it does mean that it’s fake and all other currencies are also fake.
I can’t pay my taxes in rupees, but that’s a legitimate currency.
Yes and no.
It’s a collection of numbers with properties related to how they’re found that make them difficult to counterfeit, and the way they’re recorded makes it difficult to steal. This, as well as a handful of other properties, give digital currencies behavior not entirely unlike the things that make cash useful.
Unlike money, it’s not backed by a government. This means that it’s much more volatile in terms of value. Say what you will about the state of the US, it’s unlikely that the dollar will significantly change value over the next year. It’s essentially guaranteed that the price of every cryptocurrency will be wildly different a year from today.
Put them together and you’ve got a wonderful vehicle for laundering money or bribery, which is what this all is.
The other key aspect of money that it’s missing is being generally useful outside of speculation. I can reliably use my dollars to pay for goods and services, and most significantly to pay taxes and satisfy debts in the eyes of the law. Cryptocurrency is inevitably either instantly converted to money once someone gets it, or it’s held onto under the assumption it’ll be worth more later.
Money has value because it gets you “stuff”. Cryptocurrency has value because it gets you money.
It’s fake money, but it’s a very complicated and realistic fake money.
People acting like cryptocurrency isn’t just a security backed by thin air really drives me up the wall.
Crypto is a mirage and when it crashes people will all be wondering, “damn how were we this naive.”. But humans are great at playing make believe so who knows. But acting like the USD and Bitcoin are the same is lunacy.
Like you said one is money, the other you hold onto and want to turn into money.
Cryptocurrency is inevitably either instantly converted to money once someone gets it, or it’s held onto under the assumption it’ll be worth more later.
Money has value because it gets you “stuff”. Cryptocurrency has value because it gets you money.
With one notable exception…when it is actually used as a medium of exchange, to buy drugs on the internet. (Which the vast majority of crypto is not used for, especially shitcoins like Trump’s scam.)
Drugs and money laundering, and I am very sure the latter is going on with this, by design.
I don’t know if this one is more money laundering or bribery or both, but it’s clearly something in that ballpark, yeah.
Crypto can be used at regular merchants as well. It’s very handy for avoiding interchange fees, and annoying bank rules. For instance, my own bank will not allow me to make any purchases with a vendor outside of the US, even if I call them and try to pre-authorize it; their excuse is that there’s too much fraud. That means that if i want to buy, for instance, military surplus apparel and equipment from Czechia that I have to find a company that uses a US payment processor, or find someone that’s importing the surplus that I want, rather than going directly to the source. If I want a surplus Czech OM-90 gas mask, it’s about $400 new through a US distributor, and about $50 or less (…plus shipping) if I buy one directly from Czechia. Even allowing for the relatively small mining fees with crypto, and the costs of shipping, buying direct with crypto ends up being much cheaper than using a US distributor, or trying to find a bank that doesn’t either prevent foreign transactions or charge usurious fees for them.
assuming you can find a merchant that takes it.
It also in those cases feels more like a medium of exchange rather than a currency. I don’t know anyone who says the price is “x bitcoin”, rather they say its priced at “x dollars/euros/etc.” and so will be x bitcoin.
True enough.
It can be, but it’s not typical. I’ve actually used the barter system more often than I’ve even heard of people actually using crypto for routine business transactions. And I live in an area where barter is not a standard arrangement.
It’s not just the cost of the transaction, which can vary depending on demand (lack of predicability is another issue), it’s also how long the transactions can take. For any retail establishment, taking an hour to process a transaction is entirely unfit for purpose. A minute is too long.
In your use case, you’re using Bitcoin more like a payment processor than as a currency. Something like PayPal would work just as well if your bank played ball, and would work faster and have more predictable costs.
Yeah and you’re a fool if you use Bitcoin for that purpose
That would be what XMR is for
I truly have no idea what that means… Unrelated, but I recently got into a tragic boat accident.
There’s nothing special here, just pretend you showed up with 100 signed photos of yourself and said you were selling half of them to the highest bidder and keeping the other half. Now your collection of autographed photos is ostensibly worth 50 times as much as you are selling them for.
Same thing here, only stupider.
Fake money spends.
Ugh …just don’t if you can’t understand what a ledger is …
Ugh… just don’t if you can’t fuckin answer the question like a normal fucking person. What a smug insufferable prick.
Way to explain and not just be an ass. Also, he’s not wrong. It’s a meme coin
The disclaimer Novak referred to in his skeet (the generally accepted term for a Bluesky post) …
who has accepted this term? i want names
skeet (the generally accepted term for a Bluesky post)
Can we just agree that they are all just “posts”? No more “tweets”, “Toots”, “xeets”, etc… it’s just a post.
I think most people use skeet as a joke
History from someone who moved to the platform early on:
A lot of the early adopters were the queer and trans community, first to leave Twitter after Musk’s meddling and most sensitive to the changes he was making. (In this context I don’t mean sensitive as in “snowflake”, I mean sensitive as in “aware of inevitable changes and resultant catastrophe” - when someone shits in the pool you don’t wait wait for the water to turn brown). They took the gross out humor and used it as a ward to keep some of the other elements from following over. Now they defend the term as history.
I don’t particularly agree, I understand the basis for it but ugh, it’s still gross. I keep advocating for “bleats” which kind of works as “Bluesky tweet” and leans into us all being sheep; something I find cute and take no offense at because it’s a toothless insult wielded by deeply unserious people. Alternatively, I think we should’ve just straight stolen tweet since the trademark or whatever has been abandoned at this point (???). Failing that, I’ll probably resort to just calling them posts, there’s no point in fighting momentum like this and I imagine it’ll probably settle down onto something else once the platform gets over its first wave of serious growing pains … if it lives that long.
Wtflol
