• Quick note - the problem with Youtube videos not embedding on the forum appears to have been fixed, thanks to ZiprHead. If you do still see problems let me know.

the trump administration and crypto fraud

Andy_Ross said:
Eric Trump: "You can send $500 million worth of bitcoin on a Sunday night at 11pm while having a glass of wine with your wife for virtually zero fees."

https://twitter.com/x/status/1988962230524596627
Click to expand...

it's funny because he's describing how you can do something no one has ever or will ever want to do, but instead something you'd want to do sober on a monday at a bank and not late night drunk on an impulse.
 
it's sunday and 11pm, have a drink and get rich quick. you have to invest now, before you miss out. don't think, just do it. there's no pesky regulators or laws to stop you. and later on, well you knew the risks. nobody to blame but yourself for loosing your life savings on trump coin.

and this is presented as something good, as financial freedom.
 
Andy_Ross said:
Eric Trump: "You can send $500 million worth of bitcoin on a Sunday night at 11pm while having a glass of wine with your wife for virtually zero fees."
Click to expand...
This is great advice. I always make sure I've been drinking heavily before I try to trade half a billion dollars with some dude on the internet late at night. I feel safe knowing the fees are likely to be reasonable. It's highly reassuring to think that they'll be the least of my worries.
 
Jack by the hedge said:
This is great advice. I always make sure I've been drinking heavily before I try to trade half a billion dollars with some dude on the internet late at night. I feel safe knowing the fees are likely to be reasonable. It's highly reassuring to think that they'll be the least of my worries.
Click to expand...
You're all getting it wrong: it's the glass of wine that comes with no fees !
 
it's pretty misleading anyway. if you want to send someone money, like send dollars to someone overseas and they get their currency, it's significantly longer and more expensive to do so. just to swap bitcoin, still misleading but closer to true. but that doesn't really do a lot for you, and certainly not something you should be doing while intoxicated due to the fact that all transactions are final and irrevocable.
 
imo as far as some of their ventures go, specifically the meme coins, those were scams. a guy named hayden davis was heavily involved with those and libra, the argentine coin of milei. all of those projects were pretty obvious pump and dumps.

the stablecoins, wlf platform, and mining company i would imagine were/are legit attempts at crypto ventures. however, ultimately crypto is very stupid
 
That's spot on. It was a classic pump and dump

I was going to say 'rug pull' but that's a different scam.
 
Last edited:
i also don’t like the way the article characterized the meme coins as fun ways to celebrate the president or whatever the wording was exactly.

it was a scam and they stole money from people. nothing fun about that.

but it got the point across that it’s tanking worse than the assets they represent

edit

i hesitate to even call crypto an asset. they almost need a new term for magic internet beans
 
Last edited:
www.pbs.org

How a Trump business deal with a crypto firm exposes potential conflicts of interest

Crypto.com was under siege — investigated by President Joe Biden's Democratic administration and told enforcement action was likely. Then Donald Trump won the 2024 election, and the company’s legal peril dissipated.
www.pbs.org www.pbs.org

Crypto.com ramped up spending to a lobbyist close to Trump and donated $11 million to political committees tied to the Republican president, records show. Within months, the investigation was dropped. By August, Crypto.com announced it was plunging roughly $1 billion worth of assets into a venture with a new partner — Trump’s social media company.
Click to expand...

plus $2b from the saudis, market cap for his stablecoin is roughly $3b. hundreds of millions in fees from his crypto exchange too. plus all the pardons he sold.
 
You must log in or register to reply here.

Back
Top Bottom