President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.
Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.
- 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 didn’t exist 24 hours ago and is now valued at $24 billion and doesn’t actually do anything except “hold value.” You can’t live inside of it like a house, you can’t eat it, you can’t drink it. Why is it worth $24 billion other than “it’s a scam?”
I don’t really need a serious fucking argument because that alone should be enough.
Also, Carter had to sell his fucking peanut farm, but this is fine, I guess. Nothing to see here, move along. I just need better arguments, it’s not that this is open and shut corruption out in the open.
You’ve lost track of what’s being talked about. I was talking about steak.
I’m not saying Trump’s cryptocurrency isn’t a scam. It almost certainly is a scam. But you generalized from that to saying that “crypto is a scammer’s paradise” and then told people who didn’t agree with you to kill themselves. That’s where your logic is flawed (and also where it’s certainly a violation of this community’s “be civil” rule).
The fact that Trump has released a scam cryptocurrency doesn’t mean that all crypto is a scam, in the same way that Trump releasing an awful Trump-branded steak doesn’t make all steaks into some kind of weird grift.
Yeah, because you can still eat a steak dude. Even if it’s a shitty low-quality one.
I wasn’t aware of the “can I eat it?” Method of determining whether something is a scam or not.
“can eat it” is specific to the steak and why your comparison was flawed.