What a world we live in
this post was submitted on 18 Jan 2025
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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.
Trump bout to Hawk Tuah! on the American people and maybe the world.
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.
Fresh idiots are being born every day, unfortunately
Calls on rugs!
And these "coins" are actually tokens. Not only are they not backed by any real assets (venture capital, real estate, etc), the damn things don't even exist in reality!
It's somehow even worse than NFTs
can I short this?
You can short anything if you find a lender
Not that I'm aware of.
You used yo be able to do it on sketchy unregulated Chineseesque trading sites. Been a while since I used one and they go down semi regularly.
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.
The defo do. Trump wants to hand Ukraine to Putin on a silver platter, the tankies have been salivating for that for years now
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Meanwhile, back in reality:
The venture was co-ordinated by CIC Digital LLC - an affiliate of the Trump Organization - which has previously sold Trump-branded shoes and fragrances.
Meme coins are used to build popularity for a viral internet trend or movement, but they lack intrinsic value and are extremely volatile investments.
https://www.bbc.com/news/articles/c9vmym2jvy9o.amp
Just because you SAY something is "worth hundreds of billions" does not mean it is actually WORTH hundreds of billions.
Yes. Just seeing the words "market cap" should tell you something. It is a completely meaningless term when you are talking about crypto currency.
The price means somethings, the amount held means something. The entity that sold them can mean something. But market cap isn't it.
To be fair, "market cap" is also a bullshit metric for stocks. The market price only ever represents the price of the currently traded stocks. Just dump 20% of the stock of any large company on the market and see how well their "market cap" lasts.
Isn’t that a conflict of interest?
It's not a crime if it's the president, the scrotus said so
His whole political career has been a conflict of interest.
Who's going to stop him?
They are only worth what ~~people~~ idiots pay for it.
It’s money laundering
Holy shit, inb4 he pumps and dumps and avoids jail cause of presidential immunity
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Dear god, please let donald trump choke on a piece of potato and die. Amen 🙏
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Trump launches ~~meme coin~~ money laundering scheme, apparently ~~makes~~ launders more than $25 billion overnight
Ftfy
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This is so fucking stupid. Everything. I feel like we're living in a fucking clown show.
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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?
Time to start the next one
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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.
In my mind this is just another way for shady actors to give him money with less paper trail. Is that not possible? I admit I don't actually know how people are buying or selling this.
Honestly if that's what's happening it seems like an actual 'good' use case for crypto. Good as in clever/useful not good as in, well, good.
let’s wait and see how the coin does at the end of his administration.
Pfft, I'm betting he'll rugpull in a month, tops, possibly before february even starts.
Bitcoin is sitting at 105,000 each. Businesses have bought in, banks have bought in. A whole country buys them like clockwork for their citizens future.
Its a damn ponzi scheme where the last to hold the bag is the loser. Yet it is so big now, so entrenched, I dare say it may be too big (to be allowed) to fail.
Insane. And the worst part is, nobody actually uses them. Not in any significant way. It's just let's get rich!
Even worse, they are used for lot of criminal cases, like human trafficking, childporn, drugs, weapons and more.
Like 95% money laundering, drugs and tax avoidance scams, like 5% everything else.
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