Paarslaars Posted Sunday at 06:24 AM Posted Sunday at 06:24 AM God I hope that is fake kinda embarrassing thinking that could ever work, his name becomes completely worthless in 4 years.
adesigar Posted Sunday at 07:50 AM Posted Sunday at 07:50 AM 1 hour ago, Paarslaars said: God I hope that is fake kinda embarrassing thinking that could ever work, his name becomes completely worthless in 4 years. https://www.foxbusiness.com/markets/president-elect-trump-launches-cryptocurrency-meme-coin-ahead-inauguration.amp
mattee2264 Posted Sunday at 11:38 AM Posted Sunday at 11:38 AM Trump's spent a good chunk of his career plastering his name over hotels, casinos, resi blocks, so hardly surprising he figured out he could make hay by doing the same with a memecoin. But it is absolutely shocking he's not even been inaugurated and already made $7BN from the coin after paving the way for another crypo bubble with his pro-crypto stance and promised financial deregulation. Public office becoming so ridiculously lucrative is yet another sign America is turning into a 3rd world country.
SharperDingaan Posted Sunday at 12:41 PM Posted Sunday at 12:41 PM (edited) 7 hours ago, Paarslaars said: God I hope that is fake kinda embarrassing thinking that could ever work, his name becomes completely worthless in 4 years. It's just a test of concept; if the long-term adoption proves out as everybody hopes, it's coming back in a re-branded form. Think of a countries currency as a meme, that is exchangeable against it's strategic BTC reserves. The meme being used to settle global trade payments, and the exchange rate set at an arbitrary 1,000 meme: to 1 BTC in the US Strategic Reserve. What have you just done ? Replaced the USD as the globes reserve currency. Turned the USD meme into an inflation proof hard currency, not that dissimilar to the old gold standard. Multiplied the effective quantity of your BTC reserve by 1,000; and removed the need for a CBDC with its privacy and banking issues. Very smart, very elegant ..... if the masses actually adopt it. Hence, try it out via a test of concept. SD Edited Sunday at 02:10 PM by SharperDingaan
Vish_ram Posted Sunday at 12:49 PM Posted Sunday at 12:49 PM (edited) Most logical thing for Trump to do is 1. ETF for TRUMP coin 2. Make it part of strategic reserve 3. Mandate/Punish/Reward asset managers of state pension funds for owning this meme 4. Slowly replace USD with TRUMP. 5. Use this coin for getting bribes from local/foreign. TikTok will buy $5B of meme as “Trump treasury” in exchange of lifting the ban. 6. “Trump treasury” Is part of Tier 1 capital ratio. 7. Use TRUMP for all cross border transfers (bankrupt Ripple) 8. All US aid to other countries will be in TRUMP coin Economic takeover of USA is complete. Edited Sunday at 12:51 PM by Vish_ram
dealraker Posted Sunday at 01:14 PM Posted Sunday at 01:14 PM (edited) 26 minutes ago, Vish_ram said: Most logical thing for Trump to do is 1. ETF for TRUMP coin 2. Make it part of strategic reserve 3. Mandate/Punish/Reward asset managers of state pension funds for owning this meme 4. Slowly replace USD with TRUMP. 5. Use this coin for getting bribes from local/foreign. TikTok will buy $5B of meme as “Trump treasury” in exchange of lifting the ban. 6. “Trump treasury” Is part of Tier 1 capital ratio. 7. Use TRUMP for all cross border transfers (bankrupt Ripple) 8. All US aid to other countries will be in TRUMP coin Economic takeover of USA is complete. In 2018 friends wanted me committed from hearing me chant the 2020 election would not be honored. My attempts these days to get a discussion going about US debt being restructured fail. So my prediction that many productive assets will be temporarily obliterated in price as a source of funds chasing coins probably isn't doable discussion either. And I have a couple more predictions too. LOL till falling on the floor with belly cramps...we are in for some fun in the ole U S of A. Life is great...if you can stand it! A flee from Bitcoin to fund chase of TRUMP? Edited Sunday at 01:16 PM by dealraker
dealraker Posted Sunday at 02:10 PM Posted Sunday at 02:10 PM 1 hour ago, Vish_ram said: Most logical thing for Trump to do is 1. ETF for TRUMP coin 2. Make it part of strategic reserve 3. Mandate/Punish/Reward asset managers of state pension funds for owning this meme 4. Slowly replace USD with TRUMP. 5. Use this coin for getting bribes from local/foreign. TikTok will buy $5B of meme as “Trump treasury” in exchange of lifting the ban. 6. “Trump treasury” Is part of Tier 1 capital ratio. 7. Use TRUMP for all cross border transfers (bankrupt Ripple) 8. All US aid to other countries will be in TRUMP coin Economic takeover of USA is complete. And makes sales of TRUMP non taxable is a given.
SharperDingaan Posted Sunday at 03:06 PM Posted Sunday at 03:06 PM (edited) Couple of other things to consider ...... Most of the world's underground activity relies on physical USD cash being available; the problem is that cash wears out with use, it's bulky in quantity, everybody is trying to steal it, and you're reliant upon the US Federal Reserve continuing to print more of it. There is a cost to laundering it, and the more you have the harder it is to hide. At scale, most everything about this is utter sh1te! But Lenny, ... if all we have to do is exchange our cash stash on hand, for this token .... no questions asked! Trillions upon trillions flow into this token, with success all but assured .... and when individual states can also buy the token as investments, but don't have to sell as its value goes up ..... they aren't going to be too aggressive in attempting to kill the golden goose. Of course the issuer can track the movement, but it's really no different to the tracking of BTC today. Gotta love BTC protocol! Pay your annual 2% to the Fed, and we'll leave you alone; and really no different to the Vatican paying for protection against its priceless treasures being stolen. And all .... at a lot cheaper than today's security and laundry costs. America innovates, China replicates, Europe regulates. Suck a good chunk of the illegal money out of China, and trade negotiation gets a whole lot more interesting. Musk put the Tesla 'Rocket Man' into space as a payload hauling 'proof of concept'. Maybe he also puts the 'Orange Man' into cyberspace, via a 'meme' that starts it all? .... if it works out. SD Edited Sunday at 04:18 PM by SharperDingaan
Spekulatius Posted Sunday at 04:04 PM Posted Sunday at 04:04 PM 2 hours ago, dealraker said: In 2018 friends wanted me committed from hearing me chant the 2020 election would not be honored. My attempts these days to get a discussion going about US debt being restructured fail. So my prediction that many productive assets will be temporarily obliterated in price as a source of funds chasing coins probably isn't doable discussion either. And I have a couple more predictions too. LOL till falling on the floor with belly cramps...we are in for some fun in the ole U S of A. Life is great...if you can stand it! A flee from Bitcoin to fund chase of TRUMP? This is what robbery in plain daylight looks like. Why Robb a bank, run and accounting scam like Enron or Maddoff, or take bribes when you can do this?
Blake Hampton Posted Sunday at 04:16 PM Posted Sunday at 04:16 PM 11 hours ago, TwoCitiesCapital said: This is hyper mega bullish! Bitcoin is so yesterday! *This is hyper mega ultra bullish!
Spekulatius Posted Sunday at 06:29 PM Posted Sunday at 06:29 PM (edited) 2 hours ago, Blake Hampton said: *This is hyper mega ultra bullish! What’s Bitcoin good for if you can buy fartcoin dogecoin or Trumpcoin? Soon there will be an X.coin or Marscoin. Seems sort of crypto inflationary , doesn’t it? Every influencer now can mint a new crypto coin and sell it for a quick gain, very low barriers to entry. You can start this even from a prison cell. Edited Sunday at 06:38 PM by Spekulatius
rkbabang Posted Sunday at 07:44 PM Author Posted Sunday at 07:44 PM He should sell his $TRUMP now while he can.
jfan Posted Monday at 12:05 AM Posted Monday at 12:05 AM (edited) 6 hours ago, Spekulatius said: What’s Bitcoin good for if you can buy fartcoin dogecoin or Trumpcoin? Soon there will be an X.coin or Marscoin. Seems sort of crypto inflationary , doesn’t it? Every influencer now can mint a new crypto coin and sell it for a quick gain, very low barriers to entry. You can start this even from a prison cell. You are absolutely right. Gensler's MIT course quoted ~ 1500 cryptotoken projects back in 2018. Only 1.5% of these projects actually had a working prototype network. >70% of them were just ideas that someone just published. Most of these stuff is junk and even if you create a popular coin, the originator, if they are holding a substantial number, can't offload without destroying the price. Certainly this is a reflection of people, their love of a narrative, their gambling nature, and tendency for people to cheat and fleeces others. These decentralized crypto-assets are a bit of a paradox. Decentralization and finality of data transfer among non-trusting parties face what Gensler terms it "collective action" problems ie how do you incentivize people who don't trust each other to jointly all use a network protocol that at the same time solves some cost issue (eg verification cost, governance cost, etc). Even permissioned blockchain projects such as the one the Australian Stock exchange was trying to get up and running failed and now facing legal action. Edited Monday at 01:00 AM by jfan
rkbabang Posted Monday at 12:20 AM Author Posted Monday at 12:20 AM When looking at anything in this world. Whether it is in business, with people, investing or anything else (including crypto), it is always good to remember that no matter what it is you are looking at Sturgeon's Law applies. And I'd recommend considering the very real possibility that Sturgeon was far too optimistic.
TwoCitiesCapital Posted Monday at 12:38 AM Posted Monday at 12:38 AM 6 hours ago, Spekulatius said: What’s Bitcoin good for if you can buy fartcoin dogecoin or Trumpcoin? Soon there will be an X.coin or Marscoin. Seems sort of crypto inflationary , doesn’t it? Every influencer now can mint a new crypto coin and sell it for a quick gain, very low barriers to entry. You can start this even from a prison cell. We knew that after Hawk Tuah girl. I don't understand hte appeal of memecoins, or Trump, but as long as people are willing to be so easily parted from their money, I'll be able to buy Bitcoin for less than I should be able to....
Blugolds Posted Monday at 01:12 AM Posted Monday at 01:12 AM First mentioned by Greenspan and later the title of Shillers book, if these meme coins arent the epitome of Irrational Exuberance....I honestly dont know what is. I'm hearing avg joe's talking about Trump Coin in the checkout, I've seen Lyft drivers trading in their car on their phone... A trump coin, a JD vance coin..and now a Melania coin...you cant make this stuff up, this is absolute insanity From Shillers book: "Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increases, and bringing in a larger and larger class of investors who, despite doubts about the real value of an investment, are drawn to it partly by envy of others' successes and partly through a gamblers' excitement"
Gregmal Posted Monday at 01:28 AM Posted Monday at 01:28 AM 13 minutes ago, Blugolds said: First mentioned by Greenspan and later the title of Shillers book, if these meme coins arent the epitome of Irrational Exuberance....I honestly dont know what is. I'm hearing avg joe's talking about Trump Coin in the checkout, I've seen Lyft drivers trading in their car on their phone... A trump coin, a JD vance coin..and now a Melania coin...you cant make this stuff up, this is absolute insanity From Shillers book: "Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increases, and bringing in a larger and larger class of investors who, despite doubts about the real value of an investment, are drawn to it partly by envy of others' successes and partly through a gamblers' excitement" Ok, but I also wouldn’t confuse irrational exuberance with widespread suckery and scams. Especially with hard to understand new technology. It wasn’t irrational exuberance in 2010 when everything China went bonkers. I think the likeliest culprit is that simply the internet and these social media platforms allow proverbial wildfires to spread easier. I would be hesitant to extrapolate this to anything meaningful for the broader market or real businesses.
Luke Posted Monday at 08:03 AM Posted Monday at 08:03 AM Honestly all of this is very bearish for bitcoin and crypto. Trump destroying the legitimacy of crypto in a heartbeat and creating tons of negative associations...
Paarslaars Posted Monday at 11:55 AM Posted Monday at 11:55 AM You're right Luke, if I were you I would take a huge short position on BTC right now. This is just meme bullshit, there is a Tiffany coin out now as well. I get a coin, you get a coin, everybody gets a coin! Has nothing to do with bitcoin...
Luke Posted Monday at 12:13 PM Posted Monday at 12:13 PM 16 minutes ago, Paarslaars said: You're right Luke, if I were you I would take a huge short position on BTC right now. This is just meme bullshit, there is a Tiffany coin out now as well. I get a coin, you get a coin, everybody gets a coin! Has nothing to do with bitcoin... Yes, but your thesis is based on adoption and now every country in the world sees the president of the largest economy launching meme coins for him and his wife Those kind of things are what makes people skeptical and IMO adoption will take a hit due to our Trump and dump! Btw why would i short bitcoin, why would i short anything in the first place.
73 Reds Posted Monday at 01:23 PM Posted Monday at 01:23 PM 1 hour ago, Luke said: Yes, but your thesis is based on adoption and now every country in the world sees the president of the largest economy launching meme coins for him and his wife Those kind of things are what makes people skeptical and IMO adoption will take a hit due to our Trump and dump! Btw why would i short bitcoin, why would i short anything in the first place. @Luke, You're fighting a losing battle. After having spent considerable time learning about Crypto, it is easy to congratulate those who have made money on their bets and just as easy to ignore it. Speaking of bets, I turned $1k into nearly $30k at the craps table over the weekend but like BTC, would not recommend dice to others.
Paarslaars Posted Monday at 01:26 PM Posted Monday at 01:26 PM 2 minutes ago, 73 Reds said: @Luke, You're fighting a losing battle. After having spent considerable time trying to learn about Crypto, it is easy to congratulate those who have made money on their bets and just as easy to ignore it. Speaking of bets, I turned $1k into nearly $30k at the craps table over the weekend but like BTC, would not recommend dice to others. Fixed that for you.
SharperDingaan Posted Monday at 01:39 PM Posted Monday at 01:39 PM 1 hour ago, Paarslaars said: You're right Luke, if I were you I would take a huge short position on BTC right now. This is just meme bullshit, there is a Tiffany coin out now as well. I get a coin, you get a coin, everybody gets a coin! Has nothing to do with bitcoin... The more rapidly that BTC protocol climbs the adoption curve the better; the meme sh1te is just Trumps base being pulled into the show ... to get a taste of the payoffs, and push the protocol further. Entertainment .... but also very smart. Every state in the US will start buying BTC as soon as the relevant executive order is signed; at their maximum weighting. With the elephants stomping around, it's not place for newbies. SD
james22 Posted Monday at 02:20 PM Posted Monday at 02:20 PM 54 minutes ago, 73 Reds said: I turned $1k into nearly $30k at the craps table over the weekend . . . Nice!
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now