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On closer inspection the rug has been made with a row of pulleys which were attached to f350's rolling coal. So you can understand the suprise.
No sympathy. Fuck everyone who paid Trump for this shit, I hope they needed that money.
The problem isn't that idiots are throwing their money away. It's that foreign governments and bad actors can give Trump money this way.
Yeah same, I really really really wish a necessary and life-saving surgery they now cannot afford to each and every wanker that paid into this crap.
Don't worry, the DOJ under President Trump wl prosecute those responsible.
Namely the reporters making these allegations.
The first I heard of Trump's memecoin was a headline declaring it was worth $25 Billion. I'm a pretty online person, so I tend to hear about these things pretty quickly. The article said it was worth $9 billion in 12 hours.
$9 billion is an unimaginable amount of money for any number of people to decide to "invest" in under 12 hours. The only way I can explain that happening is if many, very wealthy people, had been notified about the coin going up for sale ahead of time and wanted to curry favor with Trump.
What a fucking embarrassment this country is.
People have not actually put $9 bn into it. The value is crudely extrapolated from price and volume, but there's nothing actually there.
I guess that makes sense. So if they only sell 1 coin out of 1 million and they sell it for $100 then they can walk around saying the lot of coins as a whole are worth $100 million? (obviously a simplified example)
I'm not even sure which exchange(s) it is on? I wonder if it's almost entirely about laundering money and almost none of the peasant redhats put money into it.
It's entirely for foreign governments to bribe him and nothing else.
This is not a rugpull but a readjustment. The purpose of this coin and Melania's coin is to get around laws preventing foreign sources from donating to or bribing Trump.
Well yes and no. It's a way for foreign countries to launder their bribes. They "buy" the coins knowing he will get the money. The quasi-rug-pull part is him extracting the laundered money. Everyone, except his shit-head followers, understands this.
I suspect this coin might not be a complete rugpull though. I suspect the rugpull cones at the end if his term or when he dies whichever comes first.
This is the Rug Pull Administration, after all. Might as well kick it off with really, really big and obvious grift.
Nobody launders money like Donald Trump. Simply the best
This is a clear and obvious pump-and-dump. Anyone that falls for this deserves to be fleeced.
I agree they deserve to be fleeced. I just don't think he deserves to get the money.
Jimmy Carter sold his fucking peanut farm, and now this is the point we're at.
And doesn't get his 30 days of mourning. Because Carter can't even get a fucking break after he dies.
Everyone should post nothing but Carter and King tributes today instead of talking about the coronation.
Who cares? He’s gonna get away with all of it
Unless and until he is stopped. I wonder if anyone is trying to take down the exchange?
Sometimes I wonder what it must be like to go through life without a sense of shame.
The sci-fi books/series "The Expanse" features a rogue lab where all the scientists got the part of their brain responsible for empathy intentionally destroyed.
I sometimes think about that and wonder what it would be to be like that. How easy it would be to make a ton of money. And how sad it must be for these people to live only for themselves.
A friend and I were discussing this. It seems like these days it's more rewarding, objectively, to be a shitbag than to actually be a good human. We're constantly being played for suckers despite having morals. Everyone else is cheating in this tragedy of the moral commons.
It has always been like that.
I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.
There's a selection bias, we usually hear about the most successful shitbags. Most ordinary shitbags live pretty terrible lives. Just look at the life of the typical red state resident. Usually working their ass off in a blue collar for some plutocrat who abuses them, subjected to country music all day long. Almost makes me feel bad for them.
There have been studies done that show that the prevalence of Dark Triad traits rises, the higher you look in a hierarchical structure. C-suites have roughly three times the prevalence of these traits compared to the general population. The selection is being done by the system.
Other societies (as an anecdotal example, the Inuit) have ways of removing such individuals from the population because of the damage they do to group survivability. Take one out ice-fishing, push him in the hole, 3 minutes later, problem solved.
It actually seems like it feels pretty great. The downside is you’re probably some degree of sociopath or other disorder. But I’m neither qualified nor experienced to diagnose.
"Let me tell you, folks, this, what we're seeing right now, it's HUGE, okay? I mean, some people are saying—and I don’t know, but they’re saying—it could be the biggest rugpull in the history of rugpulls. Tremendous potential. Absolutely tremendous. Nobody’s ever seen a rugpull like this before, believe me."
Please correct me: is this nothing but entirely fake money?
Pretty much. You can make 1001 cards with your signature and a number on them, sell 1 of them for $1000 to your best friend, then say you're a millionaire now because you have 1000 cards left each worth $1000.
That's how cryptocurrency market caps work.
This was a blatant way to allow people to donate to Trump while skirting existing campaign finance laws. Get his buddies to buy his meme coin for exorbitant prices, and now he gets to keep the money because he “sold” something and it’s not a bribe.
I read your comment, thought it's impossible that you're right, and took a beat to verify. You're entirely correct. Crypto truly is this stupid.
All money is "entirely fake". The only difference is how big the value fluctuations are and to what degree you can exchange it for other currency. Crypto has a big problem with the former and minor problems with the latter, but generally speaking it's not much less real than, say, the US dollar.
The disclaimer Novak referred to in his skeet (the generally accepted term for a Bluesky post) …
who has accepted this term? i want names
skeet (the generally accepted term for a Bluesky post)
Can we just agree that they are all just "posts"? No more "tweets", "Toots", "xeets", etc... it's just a post.
Look at the bright side: only a die-hard magard would fall for this grift. So when Trump pulls the rug, the magards will finally realize they've been took.
In other words, Trump is innoculating his own followers with the cure for Trumpism.
So when Trump pulls the rug, the magards will finally realize they've been took.
Bless your heart.
No, no it will be the democrats' fault somehow. Or brown people. Or both. Probably both.
the magards will finally realize they've been took
No they won't. They will line up for the next one. The only reason they will ever stop is because they have nothing left. And then when they have nothing they will blame immigrants, woke, Soros, or whoever for their lot in life.
There are people who exist in this world who can not comprehend that the actions they take lead in part to the consequences that follow. The only thing that can be done is to watch from the side them losing everything and then getting out of the way as best one can in their fit of rage.
Sort of like a person with a gambling addiction putting the last $10k of their life savings into a slot machine. We know what's going to happen, there is nothing that can stop it from happening.
Axios is reporting that the soon-to-be 47th president of the United States has rolled out a "meme coin" dubbed $TRUMP, which is being billed as the "only official Trump meme." According to Axios, $TRUMP has already accumulated a valuation of roughly $32 billion. And because the Trump Organization is keeping 80% of the coins, this means the president-elect and his businesses are roughly $25 billion richer as a result.
80%. Hmm.
https://www.axios.com/2025/01/19/trump-meme-coin-what-to-know
Reserving 80% of the new supply for the team is an awful lot. It's usually more like 10% to 30%.
It'd be interesting to see who is buying.
I mean, yeah, one possibility is that it's supporters getting fleeced here, which is what the article is proposing.
But I suppose, without having a lot of familiarity with the structure here, that it could also be a route to launder funds. Supposing I wanted to bribe the President to do something. If I buy this, I'm increasing the value of the asset, and most of that asset is held by Trump -- that's functionally transferring wealth to Trump's pockets.
If I buy, say, shares in a publicly-traded company, then the SEC can see what's going on. But I don't think that they have direct visibility into who is purchasing coins on a coin exchange.
EDIT: Hmm. Okay, so I'm not really in the loop on this -- not something that I've been super-interested in -- but it does sound like (a) they assert that they do have that ability and (b) exchanges have not been doing so.
https://www.sec.gov/newsroom/press-releases/2023-102
SEC Charges Coinbase for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program.
As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
