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Trump Memecoin?

TragicMonkey said:
Who's next? I'm guessing Barron. Don Jr and Eric are willing toadies for their dad but he doesn't seem to actually like them. I doubt he likes Barron either, but Melania does. So I guess $Barron is next. Which puts me in mind of mall pizza.

Another irritant: are people not reading $ as S? So the first one I was reading as "Strump". Did Ke$ha have no impact on these people?
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The Barron memecoin was the prototype. I know they're now saying there was no affiliation, but I don't believe a word of it.
 
I can't help but think that as soon as someone manages to convince Wall St that bitcoins are just so much imaginary hype with no backing, the whole lot will vanish in a puff of smoke, and Muskrat will find himself worth just a few million again.
 
Norman Alexander said:
I can't help but think that as soon as someone manages to convince Wall St that bitcoins are just so much imaginary hype with no backing, the whole lot will vanish in a puff of smoke, and Muskrat will find himself worth just a few million again.
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the moment crypto becomes regulated and taxed it will disappear for all intends and purposes. It can only exit in a space where it recieves all of the benefits and none of the obligations of a financial instrument.
 
TragicMonkey said:
Who's next? I'm guessing Barron. Don Jr and Eric are willing toadies for their dad but he doesn't seem to actually like them.
I doubt he likes Barron either, but Melania does. So I guess $Barron is next. Which puts me in mind of mall pizza.

Another irritant: are people not reading $ as S? So the first one I was reading as "Strump". Did Ke$ha have no impact on these people?
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He's taller than Trump now, and that isn't acceptable, surprised Trump's bio doesn't now say he's grown 6 inches since he was last President.
 
Exclusive: Trump's meme coin made nearly $100 million in trading fees, as small traders lost money (Reuters)

NEW YORK, Feb 3 - Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.
The meme coin, known as $Trump, was launched by the president on Jan. 17 and quickly surged, reaching a peak of over $14.5 billion in overall market value by Jan. 19, the day before his inauguration. It has since slumped by two-thirds.
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So they don't even need to do a rug pull. They make millions by just passively collecting "trading fees".

Of course, that doesn't necessarily mean that they aren't going to pull the rug at some point, just that they don't need to to still make a huge profit from the "traders" buying and selling from each other.

Are there "trading fees" that are applied when bitcoin or other more mainstream crypto currencies are traded? I suppose that depends on whether you are using an exchange or not.

The creators of the meme coin receive a share of the trading fees from Meteora, a little-known crypto exchange where the $Trump coins were first sold, the blockchain analyses showed.
At least fifty of the largest investors in the coin have made profits in excess of $10 million each on the $Trump coin, according to Chainalysis. At the same time, some 200,000 crypto wallets, most with small holdings, lost money on $Trump on the exchange, it said.
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OPAQUE OWNERSHIP​

Meme coins are crypto tokens that feature branding or names referencing memes or internet trends. They are usually highly volatile and have scant practical use. Trump’s coin, for example, is intended as an expression of support for the president’s call to ‘fight, fight, fight’ after he was shot at a campaign rally last year.
The exact ownership of Trump’s meme coins is hidden behind opaque limited liability companies. Fight Fight Fight, a Delaware-registered company, is the owner of the official website for the coin, gettrumpmemes.com.
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Darat said:
I'm amazed at how quickly people found out how to gamble with a new form technology.
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And if you own the casino and you set the betting odds, it isn’t even gambling.

Think about this. Sam Bankman Fried would understand.

Create a new “coin” backed by an opaque shell company. Obviously a virtual coin, as real as the “gold pieces” that your D&D character collected. Keep most of the coins in reserve. Put the rest up for sale for real money on an exchange (essentially a website that you control). Charge “transaction fees” every time people use your exchange (website) to buy or sell these “coins”. Even Jack wouldn’t be so foolish as to buy these magic beans, would he?
 
Puppycow said:
And if you own the casino and you set the betting odds, it isn’t even gambling.

Think about this. Sam Bankman Fried would understand.

Create a new “coin” backed by an opaque shell company. Obviously a virtual coin, as real as the “gold pieces” that your D&D character collected. Keep most of the coins in reserve. Put the rest up for sale for real money on an exchange (essentially a website that you control). Charge “transaction fees” every time people use your exchange (website) to buy or sell these “coins”. Even Jack wouldn’t be so foolish as to buy these magic beans, would he?
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80% of the coins were already owned before it was launched.
 
i think the rug pull comes at the end of the presidency. in the meantime it’s fees and a direct line to trump
 
dirtywick said:
i think the rug pull comes at the end of the presidency. in the meantime it’s fees and a direct line to trump
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He usually takes a large upfront fee for licensing his name as he knows there is no long-term value in such deals.
 
TragicMonkey said:
Who's next? I'm guessing Barron. Don Jr and Eric are willing toadies for their dad but he doesn't seem to actually like them. I doubt he likes Barron either, but Melania does. So I guess $Barron is next. Which puts me in mind of mall pizza.

Another irritant: are people not reading $ as S? So the first one I was reading as "Strump". Did Ke$ha have no impact on these people?
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*A$AP Rocky shoots finger guns*
 
Its not just scamming the investors. Its another way to bribe him. Set up a bunch of trading bots, document the transaction numbers and show him how much you funneled to him.
 
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