It’s pretty wild how the incoming president has a social media platform, is backed (financially and otherwise) by the richest person in the world with his own social media platform and it’s (currently) absolute crickets in a thread like this where the same incoming president is creating a meme coin.
Maybe folks are just apathetic, but for a technology based forum to have little to no discussion about a topic that not only touches the basis of the forum but also the potential affects toward the country where this forum is based is pretty confounding.
As another commenter pointed out, this is definitely an interesting (for lack of a better word or balking towards cordiality) timeline.
it’s been a circus and it will be a circus for the next four years. This is outrageous sure, but maybe not even the top five of outrageous things this week. Fatigue should be expected.
that seems too obvious. as we saw with DJT stock, which years after its reverse merger defied similar predictions of worthlessness, things that seem too obvious usually have some form of small print or do not replay as they did in the past. Most shit coins implode, but $Trump may be an exception.
it's really not. the instant some insider starts selling the price will crash instantly dropping the price for other buyers. theres probably some momentum calculation when that happens but its not 25B
80% of the pool is was allocated before the public was able to buy. In 3 months, about 30% of the coins will vest. I assume that 30% is held by Trump and his inner circle. Once they sell in 3 months the price will crater and people will panic.
> 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.
It’s pretty wild how the incoming president has a social media platform, is backed (financially and otherwise) by the richest person in the world with his own social media platform and it’s (currently) absolute crickets in a thread like this where the same incoming president is creating a meme coin.
Maybe folks are just apathetic, but for a technology based forum to have little to no discussion about a topic that not only touches the basis of the forum but also the potential affects toward the country where this forum is based is pretty confounding.
As another commenter pointed out, this is definitely an interesting (for lack of a better word or balking towards cordiality) timeline.
it’s been a circus and it will be a circus for the next four years. This is outrageous sure, but maybe not even the top five of outrageous things this week. Fatigue should be expected.
The US President is about to rug pull the country and make billions. What a timeline to live in.
that seems too obvious. as we saw with DJT stock, which years after its reverse merger defied similar predictions of worthlessness, things that seem too obvious usually have some form of small print or do not replay as they did in the past. Most shit coins implode, but $Trump may be an exception.
I wish someone more knowledgeable could explain how this is currently valued at $25 billion.
Is that legitimately $25 billion “on paper”, or is that like an initial “stated value”? I don’t even have the precise language for the question.
Regardless, I’m sure it’s a big grift almost certainly, but I don’t understand the valuation.
Like any tradeable product, valuation = supply * current price. 1B supply * 25 current price = 25 billion.
Important to note - it doesn't mean there is 25B of value created.
it's really not. the instant some insider starts selling the price will crash instantly dropping the price for other buyers. theres probably some momentum calculation when that happens but its not 25B
80% of the pool is was allocated before the public was able to buy. In 3 months, about 30% of the coins will vest. I assume that 30% is held by Trump and his inner circle. Once they sell in 3 months the price will crater and people will panic.
I'm not more knowledgable, so I looked it up.
Trading is well underway, already up over 2000%.
With each Trump coin now worth almost 9 US pennies.
Just about a tenth of a dollar but not quite.
For recent quotes:
https://coinmarketcap.com/currencies/trump-coin/
Wrong sh*tcoin.
https://coinmarketcap.com/currencies/official-trump/
> 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.