No sympathy. Fuck everyone who paid Trump for this shit, I hope they needed that money.
The problem isn’t that idiots are throwing their money away. It’s that foreign governments and bad actors can give Trump money this way.
Hmm, true
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.
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?
Don’t worry, the DOJ under President Trump wl prosecute those responsible.
Namely the reporters making these allegations.
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 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
On closer inspection the rug has been made with a row of pulleys which were attached to f350’s rolling coal. So you can understand the suprise.
Nobody launders money like Donald Trump. Simply the best
Sometimes I wonder what it must be like to go through life without a sense of shame.
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.
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.
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.
…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.
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.
I guess that makes sense. So if they only sell 1 coin out of 1 million and they sell it for $100 then they can walk around saying the lot of coins as a whole are worth $100 million? (obviously a simplified example)
I’m not even sure which exchange(s) it is on? I wonder if it’s almost entirely about laundering money and almost none of the peasant redhats put money into it.
It’s entirely for foreign governments to bribe him and nothing else.
This is the Rug Pull Administration, after all. Might as well kick it off with really, really big and obvious grift.
Please correct me: is this nothing but entirely fake money?
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 can’t pay my taxes in rupees, but that’s a legitimate currency.
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.
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.
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.
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
“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.”
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
Wtflol
Axios is reporting that the soon-to-be 47th president of the United States has rolled out a “meme coin” dubbed $TRUMP, which is being billed as the “only official Trump meme.” According to Axios, $TRUMP has already accumulated a valuation of roughly $32 billion. And because the Trump Organization is keeping 80% of the coins, this means the president-elect and his businesses are roughly $25 billion richer as a result.
80%. Hmm.
https://www.axios.com/2025/01/19/trump-meme-coin-what-to-know
Reserving 80% of the new supply for the team is an awful lot. It’s usually more like 10% to 30%.
It’d be interesting to see who is buying.
I mean, yeah, one possibility is that it’s supporters getting fleeced here, which is what the article is proposing.
But I suppose, without having a lot of familiarity with the structure here, that it could also be a route to launder funds. Supposing I wanted to bribe the President to do something. If I buy this, I’m increasing the value of the asset, and most of that asset is held by Trump – that’s functionally transferring wealth to Trump’s pockets.
If I buy, say, shares in a publicly-traded company, then the SEC can see what’s going on. But I don’t think that they have direct visibility into who is purchasing coins on a coin exchange.
EDIT: Hmm. Okay, so I’m not really in the loop on this – not something that I’ve been super-interested in – but it does sound like (a) they assert that they do have that ability and (b) exchanges have not been doing so.
https://www.sec.gov/newsroom/press-releases/2023-102
SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program.
As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
This is blatantly a bribery scheme, with untraceability as a feature. Everyone knew it was coming, and there’s nothing to be done about it because the recipient now controls the Justice Dept, which is the only organization that’s likely to have the resources to trace the payments.
It’s all traceable.
So how can we poison it?
Yep, it doesn’t feel like a pump n dump, but very public bribery.
Hard to tell for sure, but it’s got a strange flavour to it.
Time will tell.
Eventually it’ll dump. I can’t imagine this coin having much utility post-Trump presidency, whenever and however that ends.
I mean, I just don’t have the expertise to say on the legal/regulatory side. Someone who has a background in securities and has been following the cryptocurrency situation would probably be in a better position.
I suppose that there will be people who do have such a background looking at it. The fact that it’s the President – who is in charge of the Executive Branch – and that most media that might be reporting on it has a partisan position makes this a lot more complicated.
Still, wouldn’t be the first time that we’ve run into high-level graft in the Executive Branch. Dealt with it then.
It’d be interesting to see who is buying.
Lots of foreign nations. Lots.
Look at the bright side: only a die-hard magard would fall for this grift. So when Trump pulls the rug, the magards will finally realize they’ve been took.
In other words, Trump is innoculating his own followers with the cure for Trumpism.
So when Trump pulls the rug, the magards will finally realize they’ve been took.
Bless your heart.
No, no it will be the democrats’ fault somehow. Or brown people. Or both. Probably both.
the magards will finally realize they’ve been took
No they won’t. They will line up for the next one. The only reason they will ever stop is because they have nothing left. And then when they have nothing they will blame immigrants, woke, Soros, or whoever for their lot in life.
There are people who exist in this world who can not comprehend that the actions they take lead in part to the consequences that follow. The only thing that can be done is to watch from the side them losing everything and then getting out of the way as best one can in their fit of rage.
Sort of like a person with a gambling addiction putting the last $10k of their life savings into a slot machine. We know what’s going to happen, there is nothing that can stop it from happening.
This was a money laundering scheme. Foreign governments and companies (foreign and domestic) who want favor with trump are the ones who bought in.
Oh yeah because this is totally the first time ever that he’s fucked them over.
magard
It’s magat
Nah. They’ll double down to own the libs
Trump has been running the same scams for decades. There’s probably tons of bag holders for his NFT scam that are loading up on TRUMP and MELANIA. He’s got a whole mailing list of gullible marks and he keeps butchering that pig until there’s nothing left.
He’ll just gish gallop his way out of it. Whatever smoke screen he comes up with will make his followers lose focus on all the money they have lost. Example:
Oh wow, look at this immigrant caravan from Panama. Let’s invade and stop them.
