450
I'm sure that's the first payment of the bribes from Russia and Saudis. Untraceable and the plausible irrationality of buying memecoins deflects questions.
First?
He might rename USA to Trumpistan 🤣
lol crypto is worth jack shit. I can just keep sending the same money to myself and it would cause the price to go up...
That's not how markets work...
I just finished watching Chernobyl and comments like this are now going to remind me of the fact that the reactor could not have exploded because that's not how RBMK reactors work.
Huh? Not sure how crypto-markets and reactors are related to each other...
Former is "just" based demand and supply, which of course can still be quite chaotic, because well demand and supply is chaotic (due to all kinds of factors)...
it's how crypto markets do. Since anonymity is a feature, any transactions will increase its value due to it being "used" more
No, because that would be an infinite money glitch, everyone would be rich... (that uses crypto).
It's actually very simple basic market-economics, and independently of anonymity, you buy, you'll drive the price up, you'll sell, you'll drive the price down. It's slightly more complicated, because it involves makers (they set the price at which to sell or buy) and takers (which take the offer by the maker) and psychology (e.g. promotion on youtube to drive the price up) and obviously increasingly algorithms. But in general it's still demand and supply, anonymity doesn't have anything to do here apart from being more prone to scams. Take Monero as example one of the most anonym cryptos but still fairly stable (in crypto terms).
So to drive the price up, you either have to have some kind of good promotion (which at the end is just money from someone else), or a lot of money yourself.
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It's like auctioning away the presidency
~~like~~
"Apparently" and "on paper" doing a lot of work there. Is it actually trading at that value?
I think they're basing it on current trading price and the fact that Trump inc owns 80% of the tokens.
While I agree with the sentiment here, the market cap of the coin is currently at 7.6B according to https://coinmarketcap.com/currencies/official-trump/
Anyone know why there's such a big discrepancy here? Maybe I'm misread?
Market cap makes zero sense in crypto currency.
something that literally did not exist 24 hours previously.
And still doesn’t exist. It’s not a tangible thing.
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It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
Old Man stock market looks up and chuckles "That's my boy...line go up."
Having an ETF doesn't make you real. Being Bitcoin makes you real.
I wish there was a better metric at the moment, but there isn't.
this post was submitted on 18 Jan 2025
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