#Cryptocrash

Seems plausible Trump could dump his share today to avoid any pretense of a conflict of interest working as President, no?
 
chop2chip said:
I remember the part in that movie where old man hung himself because the world was too depressing
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This is where I think lots of people are that haven't learned the modern day zeitgeist.

Even for those of us that have gotten to upper middle class we understand a different world exists for those with true wealth.
 
chop2chip said:
Btw. Just so it’s clear to all of the lolcows in this thread.

Trump has already scammed his supporters. The coin lost half its value minutes after theey launched a new coin, so all of those morons who saw the headlines about the coin going up 11000% and jumped in late just lost half their investment.

Maybe the coin rebounds but I promise you there were probably a lot of people who are panic selling right now worried that the price is going to drop to 0 like 99% of these coins do.

Do I feel bad for them? Ehhh not really. But it’s still gross and shameful that they function as exit liquidity for all of the crypto sharks and algorithms that are designed to annihilate human traders.
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50% in an hour is hard to do.

I feel bad for grandma maga
 
I think Trumps coin is going to retain value for quite some time.

The Trump brand at this time is untouchable.

Still think its ugly and people are going to lose money.
 
mqt said:
I think it’s more likely that Trump just ****ed the whole thing up than any of this fantastical nonsense.
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Your guess is as good as mine at this point - I don't think anyone knows with certainty where this is going to go.

As with many things centered around Trump. They either work out to be revolutionary or end up blowing up spectacularly in his face with collateral damage to be found everywhere.
 
thethe said:
Your guess is as good as mine at this point - I don't think anyone knows with certainty where this is going to go.

As with many things centered around Trump. They either work out to be revolutionary or end up blowing up spectacularly in his face with collateral damage to be found everywhere.
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Nothing says “we did a great job on this one, America” quite like this being the way Trump’s fiercest supporters describe him.
 
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I hold out the slimmest of hopes that there is a greater strategy here in this space and that judging this based on the first move may yield the wrong conclusion.
 
thethe said:
[tw]1881076303983681548[/tw]

I hold out the slimmest of hopes that there is a greater strategy here in this space and that judging this based on the first move may yield the wrong conclusion.
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Again.

People already lost money.

The coin lost 66% of its peak in 30 minutes. Everyone who bought the spike and panic sold the crash already lost their money.

I see you’re in the process of convincing yourself this isn’t all that bad, but you need to remember what type of person lost a lot of money today.
 
chop2chip said:
Again.

People already lost money.

The coin lost 66% of its peak in 30 minutes. Everyone who bought the spike and panic sold the crash already lost their money.

I see you’re in the process of convincing yourself this isn’t all that bad, but you need to remember what type of person lost a lot of money today.
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Oh I'm well aware of who lost and I remain unconvinced this wasn't a disgusting thing that was done.

The 'type' of person that lost money is not the standard Trump voter / middle class. Majority who are in now are those in the cypto space already as it wasn't even available on the primary exchanges until today. So I agree that there is a large handful of Trump supporters who lost I think its primarily crypto FOMO speculators who have been glued to their screens hoping to find their next BTC/SOL.

Does that make it better? No - But I do believe that the holders of the coin will retain value.
 
thethe said:
Oh I'm well aware of who lost and I remain unconvinced this wasn't a disgusting thing that was done.

The 'type' of person that lost money is not the standard Trump voter / middle class. Majority who are in now are those in the cypto space already as it wasn't even available on the primary exchanges until today. So I agree that there is a large handful of Trump supporters who lost I think it’s primarily crypto FOMO speculators who have been glued to their screens hoping to find their next BTC/SOL.
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Forgive me if this is an ignorant question, but wouldn’t that just imply the biggest marks were the exact type of people Chop is suggesting took the biggest hit? The people who saw on the news that TrumpCoin had cleared some crazy new high and invested heavily at the peak in what had to sound like a winning investment to them?
 
mqt said:
Forgive me if this is an ignorant question, but wouldn’t that just imply the biggest marks were the exact type of people Chop is suggesting took the biggest hit? The people who saw on the news that TrumpCoin had cleared some crazy new high and invested heavily at the peak in what had to sound like a winning investment to them?
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I think this is a reasonable conclusion - I'd have to see the wallet movements on the downturn to understand just how many people 'lost'.

This is a drastically volatile space. Its possible the price still escalates and most haven't lost....yet

At this point in the world we can't understand the value of a coin like this. That may not be the case in a year.
 
mqt said:
Forgive me if this is an ignorant question, but wouldn’t that just imply the biggest marks were the exact type of people Chop is suggesting took the biggest hit? The people who saw on the news that TrumpCoin had cleared some crazy new high and invested heavily at the peak in what had to sound like a winning investment to them?
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Yes. Experienced crypto traders either didn't touch it, or had an exit plan on the pump
 
If nothing else, I really hope whatever is left of legacy media commits to making sure they understand crypto well enough to communicate it to their audience going forward. The incoming President of the United States is seemingly perpetrating a scheme to enrich himself by ***billions*** of dollars in only the two days before he’s inaugurated, and they seem to have absolutely no idea how to report on it.
 
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