Trump announces The DeFiant Ones, a new cryptocurrency platform(theverge.com)
theverge.com
Trump announces The DeFiant Ones, a new cryptocurrency platform
https://www.theverge.com/2024/8/22/24226184/trump-defiant-ones-cryptocurrency-platform
10 comments
I think the most likely purpose of this is as a way to bribe or funnel money to Trump if he gets into the white house (or really, even if he doesn't). You'd expect the Saudis and Russian, etc, to invest.
That would make sense for someone with scruples, but Trump almost flaunts his corruption. Plenty of lavish "gifts" and "consulting fees" for him and his family showed up from the Saudis and Russians when he was in the White House.
Wait where's the traditional rug pull? If we get past (2), which is where I would bet it ending, a rug pull could happen before a pump-n-dump.
Good point, I'll edit it in.
Glad to see new people entering the space, Hopefully with Donald Trump background in business and politics he can bring some badly needed weight to legitimize crypto.
Imagine... what if the government had a way to control the minting of money while mitigating the potential for fraud fundamentally. They could invent a new centralized ledger technology to protect from foreign interests, and even create a form of physical currency that represents the immaterial fiat. Then you could create institutions for evaluating and creating lines of credit on behalf of their users, and even regulate them through the same administrators of the treasury. Add in a simple futures and bonds market, and you've got a really enticing project there.
Seems like a huge opportunity, I'd love to see crypto tackle this. Unfortunately the tech just isn't there yet... something this advanced is easily another 100, 200 years out from being feasible to build.
Seems like a huge opportunity, I'd love to see crypto tackle this. Unfortunately the tech just isn't there yet... something this advanced is easily another 100, 200 years out from being feasible to build.
Top in crypto is in.
In case we needed any additional confirmation that crypto’s only viable use cases are grifting-adjacent!
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1. It'll forever remain promises and PR.
2. No implementation, but they'll start soliciting "supporter pre-deposits", which will somehow be non-refundable.
3. [Edit] Enough implementation to enable a rug-pull. (Everyone buys fresh crypto, excitement builds, they tell their friends, then company vanishes taking all the hard cash.)
4. Enough implementation for pump-and-dumping. (Insider owns crypto bought for for pennies, draws in excited dupes, sells at inflated price. Possible to repeat until people catch on.)