More Than 800K Have Lost $2B on Trump’s Meme Coin
https://www.thedailybeast.com/more-than-800k-have-lost-2b-on-trumps-meme-coin/Open linkView original on lemmy.world432
Comments69https://www.thedailybeast.com/more-than-800k-have-lost-2b-on-trumps-meme-coin/Open linkView original on lemmy.world
Its fucken poetic that his presidency launched with a shit coin he used to rugpull almost a million people. Fucking idiotic ass timeline.
Remember the last time he rug pulled a million people? It was during COVID and the rug was their lives. While other countries saw a fraction of the death relative to populations.
I don't think it could be any more American
It's not a pump-n-dump this time. In my opinion, it's a laundered bribe. The 800k victims were an unintended benefit.
Definitely this was a way for offshore third parties to give Trump money. Gotta say this is my least favourite use of crypto, but it is also the most valuable use case (for corrupt politicians).
It can easily be both.
The pump would be the bribe and the dump is them cashing out. Same thing with a bunch of suckers floating the value.
Damn, where did I put that violin. It's so small, I think I might have lost it...
The tardigrade is lending you his.
https://i.imgur.com/ZfXN74B.jpeg
A fool and his money are easily parted.
And yet somehow Elon and Trump are super rich.
When you have that much money and power, the only people that fail are the ones at the bottom of your trash heap built on the lies that brought you riches.
A lot of people never outgrew the schoolyard king-of-the-hill game, and still play it like they’re children.
“It's easier to fool people than to convince them that they have been fooled.” - Mark Twain
Buy clown coin, get clowned
more at 11
Coffeezilla on the subject. I guess Trump is running with the 'if the president does it, it isn't illegal.'
https://youtu.be/8zjBj194el8
Oh, you mean this?
https://www.pbs.org/newshour/politics/read-the-full-supreme-court-decision-on-trump-and-presidential-immunity
I remember hearing about some dude putting his grandfather's inheritance on this poopcoin. Wonder how he's doing
Wife divorced him over it, IIRC
Maybe his grandfather will pass before he needs it.
There's a German saying for that:
Tja.
Also: schadenfreude
The only problem with that is that the money goes straight to fascism
In the region of Albacete (Spain) we have a similar word.. and no, it's not related to the video game giant:
Ea.
Indeed.
jep
Why would Trump even need a coin? SCOTUS and court cases have shown he literally could break any law and get away with it.
Like the laws against making and promoting scam coins like this.
He’s been gradually ramping up the severity of his crimes for decades. He’s still doing it, and won’t stop until we stop him. I don’t know if there’s a ceiling, but I’m certain his gang doesn’t think there is.
Because he wants to steal more money and this is an easy way to do so for someone who doesn't need to obey any laws
https://www.tickcounter.com/countdown/1611151200000/america-new_york/yodhms/FFFFFF3B5998000000FF0000/Time_Until_Trump_Leaves_Office
Half a day since my last check. This is going to be a long slog.
Until trump is supposed to leave office
The previous insurrection was practice.
Boy that's a pretty big assumption there.
If he lives that long.
Lame Duck Trump has already been classified as the worst president in US history.
Ah, meme coins-the financial equivalent of betting your life savings on a Magic 8-Ball. How poetic that the same crowd screaming "drain the swamp" now drowns in a crypto septic tank. $2 billion evaporated? That's just the market's way of Darwin-awarding fiscal literacy.
Trump-branded anything is a loyalty test, not an investment. Imagine clutching a digital token of a man who'd sell your kidneys for a Fox News soundbite. The grift's the point-watching rubes conflate memes with merit. Never change, cultists.
Edit: no more bold, geez! I got it
Ok, I totally agree with you, but your use of bolding and italicizing is making me irrationally angry.
This guy goes around posting annoyingly formatted AI summaries of everything, its actually getting pretty annoying.
Oh, the irony of whining about formatting while contributing absolutely nothing to the conversation. If my posts are annoying, imagine the existential dread of realizing your own adds less value than a blank page. AI summaries? No, just coherent thoughts—something you might want to try sometime instead of playing the self-appointed arbiter of relevance.
Maybe focus less on tone-policing and more on forming an actual argument. Or does that require too much effort? Go ahead, downvote. It’s not like your input changes the fact that this space thrives on ideas, not your fragile sensibilities.
Lmao okay yeah, nice ideas chatGPT. Im sure that 'prompt engineering' is real tough work.
Edit* also i didnt downvote you, i don't see that as productive and i dont disagree with the content of most of your comments. Youre not gonna convince me you weren't using AI though.
Oh, I scrolled through your posts—what a gallery of beige wallpaper. You manage to say so much while meaning absolutely nothing. It’s almost impressive how consistently you avoid depth, like a skipping stone that never sinks. And yet, here you are, passing judgment on others as if your hollow commentary holds weight.
If dismissing ideas as "prompt engineering" is the peak of your intellectual rigor, maybe it’s time to sit this one out. This space thrives on substance, not on the brittle ego of someone who mistakes noise for contribution. Keep clinging to your quips—they’re the only thing keeping you afloat.
beanzie out
Yeah i scrolled through the hundred or so pages of flowery nonsense youve posted in just the last day too, until my thimbs got tired. Flooding the space with low effort regurgitated AI slop is maybe not the meaningful contribution of "substance" that you think it is.
Fixed it! Thanks for the feedback
Oh no. The thing everyone said would happen has happened.
Btw, only idiots put money in that currency thinking it was an investment. The true purpose of that currency was to disguise bribes.
Was never anything more than a way to scam some money and make it harder to track/tax.
You're supposed to lose your money. That's the business.
Good
2 billion dollars / 800,000 people gives an average of 2,500 dollars per person. I'm going to venture a guess based on vibes that this was a more or less normal distribution and the median loss is close to the average loss. That's not YUGE per person, but it would still chap my ass real good.
I imagine a lot of this is coming off the back of individuals/corporations/nations seeking influence over Trump; especially when you consider that something like 80-90% of initial tokens were owned by Trump and insiders.
A couple hundred million dollars is a small amount to pay for the leverage it could provide. I honestly think a large number of the biggest bagholders would be linked to the Saudi’s and Musk.
Well deserved losses.
Finally a news story about American politics that is actually news and I want to hear about.
I'm positive that the vast majority of these "people" are bots run by foreign governments. He launched this meme in 3 days before his inauguration, what else are we supposed to think. That $2 billion is mostly bribes with a f ew trumpets thrown in.
It is almost like the Orange Turd is a con man. Who could have seen this coming!
It's a metaphor for the US economy
Hmm now I feel bad for not shorting it, after having thought about it initially...
Looking at the comments, it seems that the important thing is that those more than 800,000 are idiots, and it is obvious that they are, but I think it is more important that the current president has scammed with all the shamelessness and without any concealment to its own citizens. I'll leave it up to everyone to reflect on what that means for a supposed democracy.
Sounds like a class action lawsuit screaming to happen
In what courts? Why would they hold Trump accountable?
Yeah, but it's going to go to the moon any day now! True believers will buy the dip! Make Meme Coins Great Again!
I like that they're losing money, I dislike that drump himself is probably receiving that money.
Buy at the dip. (Dip is $0.17)
i put 20 bucks in cause i thought what the hell, and now its only worth like 6 or 7 bucks lol
You are the 800k.
You just made donvict a little bit richer
Idiot