#Cryptocrash

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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It's called capitalism and people took a risk. Nobody got scammed because the market on these are inherently risky.

You really are a TDS retard, bro.
 
mqt said:
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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There is a book titled Crypto for Dummies that is widely available. Actually several with similar titles. Hopefully someone will see fit to write an Irony for Dummies book soon.

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I don’t try to find random no-name accounts to dunk on, but “this is actually so he can financially recover from the lawfare of the left” is a genuinely impressive way to wave off Trump scamming his supporters.
 
sturg33 said:
... bizarre
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No no. He’s right. My TDS retardation clouded my mind. Scam was not the right word.

I should have said “taken advantage of” instead.

Not that it matters much to the dum dums who lost a lot of money today, but we should try to be mindful with the words we use.
 
Garmel said:
It's called capitalism and people took a risk. Nobody got scammed because the market on these are inherently risky.

You really are a TDS retard, bro.
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“Haha, I can’t believe you suckers would trust *checks notes* the President of the United States who has spent the past ten years proclaiming he’s risked everything trying to save America for you.”
 
I laugh when you people think this is all grandma MAGA putting all of her retirement money into this.

A lot of it are big investors.
 
Garmel said:
I laugh when you people think this is all grandma MAGA putting all of her retirement money into this.

A lot of it are big investors.
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Even if we posit some astronomically high percentage of investment is from this sort of investor, a low percentage of that kind of overall investment is still a mind boggling amount of money for the President to siphon from his supporters.
 
mqt said:
Even if we posit some astronomically high percentage of investment is from this sort of investor, a low percentage of that kind of overall investment is still a mind boggling amount of money for the President to siphon from his supporters.
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Last I saw there were over 700K addresses holding it. One of the most addresses in the world
 
Garmel said:
Yeah, the so-called libertarians acting like a bunch of crybaby libs is what's bizarre.
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Yes. I'm kind of amused to see this objection to free markets from our Libertarian friends. These are transactions between consenting adults.
 
Garmel said:
Wait a minute. You're agreeing with me?
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Eh. Not really. I think well functioning markets are high maintenance. We have to set and enforce certain rules for society to receive the benefits of competitive markets. We're in an era where we let the rules lapse to the benefit of plutocrats and predators. People know it in their bones, which is why you see this populist celebration when the CEO of a predatory corporation gets gunned down.
 
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Garmel said:
It's called capitalism and people took a risk. Nobody got scammed because the market on these are inherently risky.

You really are a TDS retard, bro.
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I think this is my favorite take.

Grandma probably hears about bitcoin etc. on like facebook/fox news. She doesn't know what Crypto is but when Herr Trump goes on truth social tells them it's a great idea to invest in Trump coin they spend their money on it stupidily. It's a scam, I'd be pissed if my parents fell for that for the insiders to just make a **** ton of money.

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It's highly unethical for Trump to do, this idea that "It's Capitalism" well it isn't. It's not a free market if it's manipulated by the few.
 
zitothebrave said:
It's highly unethical for Trump to do, this idea that "It's Capitalism" well it isn't. It's not a free market if it's manipulated by the few.
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I think it is emblematic of the direction capitalism in this country has trended in the past 30 years.
 
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By the time we get to $BARRON I wonder if they’ll just save some time and have people change their direct deposit information to Barron’s bank account.
 
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