'Dumping like crazy': Trump accused of 'rugpull' scheme now valued at $32 billion

And doesn't get his 30 days of mourning. Because Carter can't even get a fucking break after he dies.

https://theonion.com/you-people-made-me-give-up-my-peanut-farm-before-i-got-1819585048/

Ee-ay-ew-ay-o?

Sometimes I wonder what it must be like to go through life without a sense of shame.

Isn't calling it a meme supposed to be the quiet part? I thought we called them "meme" coins because everybody was in agreement that the coin wasn't meant to be taken seriously?

I think Elon has already bought himself a bit of Melania....

Smellania?

I can't not see Smelania now.

Smelania? That's not very nice.

...And that's not the Onion? Looks like she is laughing so hard at the idiot peasants getting rug-pulled already in that pic.

And also: "you can buy Melania"? Um, phrasing?

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.

I think most people use skeet as a joke

History from someone who moved to the platform early on:

A lot of the early adopters were the queer and trans community, first to leave Twitter after Musk's meddling and most sensitive to the changes he was making. (In this context I don't mean sensitive as in "snowflake", I mean sensitive as in "aware of inevitable changes and resultant catastrophe" - when someone shits in the pool you don't wait wait for the water to turn brown). They took the gross out humor and used it as a ward to keep some of the other elements from following over. Now they defend the term as history.

I don't particularly agree, I understand the basis for it but ugh, it's still gross. I keep advocating for "bleats" which kind of works as "Bluesky tweet" and leans into us all being sheep; something I find cute and take no offense at because it's a toothless insult wielded by deeply unserious people. Alternatively, I think we should've just straight stolen tweet since the trademark or whatever has been abandoned at this point (???). Failing that, I'll probably resort to just calling them posts, there's no point in fighting momentum like this and I imagine it'll probably settle down onto something else once the platform gets over its first wave of serious growing pains ... if it lives that long.

Wtflol

I agree they deserve to be fleeced. I just don't think he deserves to get the money.

I mean its a premine

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.

This was a money laundering scheme. Foreign governments and companies (foreign and domestic) who want favor with trump are the ones who bought in.

Nah. They'll double down to own the libs

magard

It's magat

Oh yeah because this is totally the first time ever that he's fucked them over.

Trump has been running the same scams for decades. There's probably tons of bag holders for his NFT scam that are loading up on TRUMP and MELANIA. He's got a whole mailing list of gullible marks and he keeps butchering that pig until there's nothing left.

He’ll just gish gallop his way out of it. Whatever smoke screen he comes up with will make his followers lose focus on all the money they have lost. Example:

Oh wow, look at this immigrant caravan from Panama. Let’s invade and stop them.

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.

There's nothing special here, just pretend you showed up with 100 signed photos of yourself and said you were selling half of them to the highest bidder and keeping the other half. Now your collection of autographed photos is ostensibly worth 50 times as much as you are selling them for.

Same thing here, only stupider.

Yes and no.

It's a collection of numbers with properties related to how they're found that make them difficult to counterfeit, and the way they're recorded makes it difficult to steal. This, as well as a handful of other properties, give digital currencies behavior not entirely unlike the things that make cash useful.

Unlike money, it's not backed by a government. This means that it's much more volatile in terms of value. Say what you will about the state of the US, it's unlikely that the dollar will significantly change value over the next year. It's essentially guaranteed that the price of every cryptocurrency will be wildly different a year from today.
Put them together and you've got a wonderful vehicle for laundering money or bribery, which is what this all is.
The other key aspect of money that it's missing is being generally useful outside of speculation. I can reliably use my dollars to pay for goods and services, and most significantly to pay taxes and satisfy debts in the eyes of the law. Cryptocurrency is inevitably either instantly converted to money once someone gets it, or it's held onto under the assumption it'll be worth more later.
Money has value because it gets you "stuff". Cryptocurrency has value because it gets you money.

It's fake money, but it's a very complicated and realistic fake money.

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.

Fake money spends.

Ugh ..just don't if you can't understand what a ledger is ...

This is blatantly a bribery scheme, with untraceability as a feature. Everyone knew it was coming, and there's nothing to be done about it because the recipient now controls the Justice Dept, which is the only organization that's likely to have the resources to trace the payments.

Yep, it doesn’t feel like a pump n dump, but very public bribery.

Hard to tell for sure, but it’s got a strange flavour to it.

Time will tell.

It’d be interesting to see who is buying.

Lots of foreign nations. Lots.

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.

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.

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'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.

Oh, I didn't realise he'd outed himself as a piece of shit

Unless and until he is stopped. I wonder if anyone is trying to take down the exchange?