#Cryptocrash

chop2chip said:
Dude. The Trump team owns 80% of the coins in a single wallet. Get your head out of the sand.

They are letting people buy coins with debit cards which is unusual for a meme coin. No reason to do that other than to make it easy for Grandma MAGA.
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I have no idea. I don’t look into it at all.

I literally heard about it here.

And I said it’s a terrible idea. Relax Francis
 
Tapate50 said:
I have no idea. I don’t look into it at all.

I literally heard about it here.

And I said it’s a terrible idea. Relax Francis
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Fair enough. I just find these memecoin schemes immoral and really should be regulated imo (you can see my posts on Hawk Tuah girl right before this). I’ll admit to being a bit defensive, especially when I see people give Don a pass. He should be shamed pretty hardcore for this.
 
Still wondering if garmel is a supporter of scammers currently in prison for offering a product their customers wanted but can't get clarity
 
sturg33 said:
Still wondering if garmel is a supporter of scammers currently in prison for offering a product their customers wanted but can't get clarity
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It shouldn’t be legal for Banks to offer more than 10% on interest but it’s okay if you sell a meme that can be rug pulled at any moment the majority token holders decide they’ve made enough.
 
chop2chip said:
It shouldn’t be legal for Banks to offer more than 10% on interest but it’s okay if you sell a meme that can be rug pulled at any moment the majority token holders decide they’ve made enough.
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If you look back you'll notice that I thought 10% was too low.
 
chop2chip said:
Fair enough. I just find these memecoin schemes immoral and really should be regulated imo (you can see my posts on Hawk Tuah girl right before this). I’ll admit to being a bit defensive, especially when I see people give Don a pass. He should be shamed pretty hardcore for this.
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I’m not actually sure there’s a level of defensiveness that would be unwarranted here given the enormous scale of the incoming rug pull. I almost hope there is a bunch of dark foreign money currying favor with Trump by buying a memecoin because the alternative sounds catastrophic.
 
The vesting of coins over the next three years makes it slightly different but in the end millions of trump supporters will lose money and none of this needed to happen.
 
Garmel said:
This could go the way of the Hawk Tuah coin in a few weeks.

That's the risk involved.
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My issue isn’t that someone dumb enough to get rug pulled has it happen to them. My problem is that people:

A) Believe Donald Trump is a fundamentally good person trying to save America.
B) Believe that a fundamentally good person trying to save America would not scam them out of their money using a technique that would be explicitly illegal in any other type of market.
C) Don’t follow the goings-on of the crypto community and have no idea what a rug pull is, but do know that Donald Trump is offering them a chance to invest in something currently valued in the billions of dollars online.

It’s not just risky, it’s actively predatory.
 
Garmel said:
Look at Bitcoin. 1.39 trillion of something that produces nothing but makes money.
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Other distinctions aside, if the President of the United States and his direct affiliates owned 80% of Bitcoin and could cash out tomorrow with no real penalty, I’d be a bit concerned as well.
 
I’m not sure a bunch of 80 year olds are going to call their stock broker and ask to buy Trump coin.

If you have a Coinbase or RH acct you know what’s involved and how risky it is.

That said- it’s still a terrible look and should be nowhere close to the WH
 
This is admittedly a tin foil hat thought, but how identifiable would it be for the following to happen?

Trump’s affiliates indeed carry out their rug pull and move some agreed upon amount to a Chinese affiliate’s wallet. Then in the next 90 days ByteDance sells TikTok to a pro-Trump investor for a significant, but not insane valuation, citing the importance of keeping TikTok available for US users. Trump wins, China wins, MAGA folks who bought a bunch of memecoin lose.

Edited to add: this is NOT an accusation of Trump doing this, but rather a question to identify how ****ed we are if we don’t regulate these kinds of schemes.
 
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mqt said:
This is admittedly a tin foil hat thought, but how identifiable would it be for the following to happen?

Trump’s affiliates indeed carry out their rug pull and move some agreed upon amount to a Chinese affiliate’s wallet. Then in the next 90 days ByteDance sells TikTok to a pro-Trump investor for a significant, but not insane valuation, citing the importance of keeping TikTok available for US users. Trump wins, China wins, MAGA folks who bought a bunch of memecoin lose.

Edited to add: this is NOT an accusation of Trump doing this, but rather a question to identify how ****ed we are if we don’t regulate these kinds of schemes.
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Ehh… I don’t think so because those transactions would be visible on chain.
 
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