I hope the diehards puts their whole 401k in it.
Give them what they voted for – good and hard.
intercst
7 Likes
Trump is now worth $50 B!!! As much as you don’t like it, the memcoins are exploding. I certainly don’t want to get into that gravy train, but it hurts watching from sidelines.
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This is part of the new government efficiency. Instead of making a campaign contribution with the associated paperwork and contribution limits, you can simply deposit money directly in the POTUS’s checking account.
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And you do not have to be a “citizen” to “contribute”.
ralph
11 Likes
The trick is getting the exit liquidity. The way these scams work is the the founders execute wash trades to drive up the price. The marks notice the price action and jump in in hopes of getting rich. The then founders dump their coins and walk away with the bags. The marks can’t sell because there are no buyers.
80% of these tokens are still in the original wallets and the founders probably control far more than that. The founders can’t release more than that because it becomes complicated to pump the price.
If this sounds illegal, it is. But the good news is the next president promised a “crypto friendly” head of the SEC.
11 Likes
Oh no, I love it. Corporate Democrats are as responsible for the corruption as Trump.
intercst
2 Likes
That’s how they usually work. And that’s how NFTs worked. But this time that part wasn’t necessary. There were enough “crazies” out there willing to buy and keep buying the instant it became available. I read about one guy that bought $1M worth at 18 cents, now worth $300M or so. But there’s no way to get a lot out at current prices, so if he’s smart, he’d sell a few million $ of it periodically as long as the party lasts. In other words, as long as there is an adequate supply of buyers (suckers?) willing to take it off his hands.
The whole thing is nuts and is very bad for the world of finance. As soon as CNBC started including crypto in the main app page, it was a huge mistake. Legitimizing it is a huge mistake. It is literally a useless expenditure of capital and energy. Produces nothing of real value. And that kind of thing never ends well. Never.
11 Likes
iirc, that is what drove up the price of the first round of TFG “NFTs”: daisy chain or round trip trades to paint the tape.
Steve
1 Like
Does he have a laptop?
He has a guitar. Interestingly, no country of origin labeling. For your $1500, you get something comparable to a $350 Indonesian import.
Steve…suspects buying this stuff will become like donating to the United Way at the pump seal company.
4 Likes
Trump had already cashed $500M.
Could be (assuming most of that $500 million isn’t insider wash trades) but there is still no way the token is worth $50 billion.
Trump advisor Ryan Fournier just did a quick rug pull on his Tik Tok coin. He’s very, very, sorry about all the money that wound up in his back pocket. Not nearly sorry enough to return it to his victims, but still very, very sorry.
I don’t tweet, but I have a Twitter account. I get large amounts of spam promoting crypto scams. In fact, crypto scams are the only messaging I get.
Between Musk and Trump, crypto scamming will be treated very generously over the next four years.
2 Likes
For Trump, he doesn’t have to do any such pump and dump, not that he is beyond that, he has an army of followers who are going to blindly buy and there are enough 3rd party folks who will do that for him.
Jimmy Carter sold his peanut farm, because he doesn’t want conflict of interest and we have traveled a long way from there.
8 Likes
Jimmy Carter sold his peanut farm, because he doesn’t want conflict of interest and we have traveled a long way from there.
Fox Noise ran a decades long project repudiating everything Carter represented. Have we reached the end point yet?
Steve
I don’t know. The more I read about him, the economy he inherited, the actions he took, I find that he had done an admirable job. Carter is a far more conservative than the most in conservative movement today. I thought they would embrace him, but world is a mystery. Frankly, I think Carter is way underrated. In the end, Carter’s lasting legacy is, he is a very decent man lived an honorable life and served his fellow humans.
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Carter is my favorite of the prezs during my lifetime, from Eisenhower through to Voldemort.
He was my type of Christian, and my type of conservative.
Rare.
d fb
11 Likes
From stock market to our individual identity, everything is for sale. I am not saying this lightly. If you follow TikTok saga, it is clear that it is controlled or owned by Chinese government. When the courts have explicitly asked what is the problem in divesting, their answer that the algo will not work, is revealing. ByteDance doesn’t want to take Billions, at peak valuation, but willing to kill the product, because they don’t want to share the algorithm. That should scare anyone who is using TikTok. But more importantly, whether you are using it or not, if your family or friends use it, you are compromised.
After spending over $1000’ still I am not able to remove some of my personal details from the dark web. Utilities, Banks, everyone is willing to sell your personal details. Now we have an administration which is not going to be on the side of citizens.
At the least you should subscribe to some service like lifelock, to track what is going on with your SSN, etc.
2 Likes
He can get charged with fraud if this does not work out.
A very conservative woman at work said something incredibly obnoxious to me yesterday. I realized the drunken paranoia was her hardship.
As a young guy I hated being in barrooms. The least educated person wanting equality while climbing in a bottle. The bigotries, the self loathing, and looking for someone to blame.
Congrats people got to blame Jimmy Carter. How small people are in the drunken paranoia. Worthless trash by their own doing. No one else’s.
Faux loves them because they buy things when they see ads for crap.
And yes the rest of America is so much better than them. Much much better.
1 Like
Curious there are two threads going: 1) Trump branded crypto token goes on sale. And 2) Crypto is for criming.
Just saying.
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