#Cryptocrash

The meme coin, celebrity coin, and apparently new government funded stuff has got to stop. It's taking real money out of the system and of course hurting the legitimacy of real projects
 
Argentina’s president, Javier Milei, has caused a political firestorm by promoting an unknown cryptocurrency token that shot up in value after his endorsement — then swiftly cratered.

In a post on social media on Friday night, Mr. Milei said that the coin, called $LIBRA, would stimulate the economy and help small businesses grow. While the sudden attention gave the token an initial boost, the huge gains were erased as fear quickly spread that the coin was a scam.

Mr. Milei deleted the post, which was on his personal account, five hours later and attempted to distance himself from the venture. “I was not familiar with the details of the project,” he wrote on X, “and after having informed myself I decided not to continue disseminating it (that is why I deleted the tweet).”

On Saturday night, in another post on X from the official presidential account, his initial endorsement of the coin was described as a routine promotion of a business. It also said the president had opened investigations into whether anyone in his government, including himself, had acted inappropriately, and whether anyone involved with the coin had broken the law.

Mr. Milei had come under fire for apparently pushing people toward a risky investment. His initial post also prompted comparisons with President Trump, who launched a memecoin, $Trump, last month. That token surged for a while and then crashed.

A center-left coalition that opposes Mr. Milei’s libertarian government called his crypto foray “a scandal without precedent.” Another political bloc said it was seeking to create a commission in Congress to investigate what occurred.

Former President Cristina Fernández de Kirchner, Mr. Milei’s main political opponent, said that thousands who had trusted him lost millions of dollars in all, “while many made fortunes due to privileged information.”

https://www.nytimes.com/2025/02/15/...e_code=1.xU4.Fr39.SPJExldi9qd6&smid=url-share

I give Milei a little bit of credit for displaying a level of awareness that something fishy just happened and that he needs to distance himself from it as much as possible.
 
nsacpi said:
Very similar to hedge funds.
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Difference here this is all on chain. Yes people are being robbed, but they are being robbed in broad daylight. If you are still buying meme coins, you have Darwin’s utmost sympathy.

Bernie got to run his scheme for decades before the public grew wiser.
 
sturg33 said:
Genuinely curious why you have posted about this but now about the Canadian government investing bigly into assisted suicide?
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Umm a ton of reasons?

How about we start with one. We have a thread retailed to crypto stuff and this is maybe one of the most depraved things that has happened recently.
 
zitothebrave said:
Umm a ton of reasons?

How about we start with one. We have a thread retailed to crypto stuff and this is maybe one of the most depraved things that has happened recently.
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It's a sad reality that people kill themselves over financial issues all the time. Vegas has suicide therapists on staff.

But this generation has to film themselves doing everything now for internet clout.
 
sturg33 said:
It's a sad reality that people kill themselves over financial issues all the time. Vegas has suicide therapists on staff.

But this generation has to film themselves doing everything now for internet clout.
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THere's a lyric that's not coming to me talking about the tragedy of death, referencing Hendrix, Cobain, etc.

But anyway, when your'e dead you can't appreciate your clout. He was 23, he could have easily turned his life around. Like even if he was full ass tits up. He'd be free of it before 30. Now he's just dead and people are taking advantage of this situation to make money off a memecoin.
 
sturg33 said:
I sold a little btc after 100k... but have been buying on this drop.

30% fullbacks are the norm in this space. Think 78k was close to the bottom
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I put 2% of my weekly pay on a set it and forget it buying regiment. The only time I look at it is when I transfer from Strike to a cold wallet.

The old adage of “time in the market beats timing the market” is the truest axiom
 
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