President-elect Donald Trump has now found yet another way to convince his followers to throw their money his way — this time with a questionable cryptocurrency venture.Axios is reporting that the soon-to-be 47th president of the United States has rolled out a "meme coin" dubbed $TRUMP, which is bei...
  • Revan343@lemmy.ca
    5·
    12 hours ago

    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.

    With one notable exception…when it is actually used as a medium of exchange, to buy drugs on the internet. (Which the vast majority of crypto is not used for, especially shitcoins like Trump’s scam.)

      • Revan343@lemmy.ca
        2·
        4 hours ago

        I don’t know if this one is more money laundering or bribery or both, but it’s clearly something in that ballpark, yeah.

    • prole
      1·
      6 hours ago

      Yeah and you’re a fool if you use Bitcoin for that purpose