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Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

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Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#171

Post by AbraKdabra »

dysoco wrote: post #69

Just to clarify, here are some important differences compared to the Trump case: 1. Milei did not sell this as a memecoin at all, unlike Trump, he sold it as a "financial instrument to help finance small Argentinan enterprises". 2. Trump tweeted about $TRUMP BEFORE stepping into office, Milei is already the president of Argentina. This constitutes an obvious ethical violation, and possibly a legal one as well. 3. 80%…

> ...and he's helping Argentina's economy, and that cannot be further from the truth sadly.

Tell me you don't live in Argentina without telling me you live in Argentina.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#172

Post by tombert »

adastra22 wrote: post #156
tombert wrote: post #41

Earlier quoted context omitted.

Even if everything you said here is true, he's the president of the country. It is not unreasonable for the president of a nation to do the research of what they're endorsing before they endorse it, instead of backtracking immediately after backlash.

Retweet doesn't mean endorsement.

Who decided that? Would you hold that same standard if a politician you didn’t like did it?

I don’t like most politicians, but if Bernie Sanders (someone I do like) blanket retweeted a crypto scam, I would say that that’s bullshit. Unless he was the biggest moron on the planet, he would have to know that a retweet will be read as an endorsement by a large number of people.

A public figure, particularly a high-profile elected figure, particularly a figure who is in charge of how laws are enforced, should be held to a high standard.

But as other people have pointed out, it actually wasn’t just a retweet.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#173

Post by aprilthird2021 »

TZubiri wrote: post #140
dysoco wrote: post #69

Just to clarify, here are some important differences compared to the Trump case: 1. Milei did not sell this as a memecoin at all, unlike Trump, he sold it as a "financial instrument to help finance small Argentinan enterprises". 2. Trump tweeted about $TRUMP BEFORE stepping into office, Milei is already the president of Argentina. This constitutes an obvious ethical violation, and possibly a legal one as well. 3. 80%…

Great take regarding 1 and 2. Regarding 3 it seems clear to me that he was not an insider, but he was scammed into spending his political capital and reputation. As a whole, it's classic cargo cult situation,imitating what a more powerful country is doing without understanding the nuances.

If you as the President get scammed into scamming your people, there should be consequences

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#174

Post by littlestymaar »

ttoinou wrote: post #164
karparov wrote: post #162

Earlier quoted context omitted.

> stop spending money the government doesn't have That shows quite the misconception about what "money" actually is.

Not everyone believes in Modern Monetary Theory

Not everyone believes the earth isn't flat either unfortunately.

There's no need to adhere to a particular economic theory (I'm not particularly familiar with MMT) to realize that, at societies scale, money isn't some kind of scarce commodity.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#175

Post by adastra22 »

karparov wrote: post #168
adastra22 wrote: post #156

Earlier quoted context omitted.

Retweet doesn't mean endorsement.

Standard defence after sth retweeted blew up. And it doesn't work like that. Also, it wasn't "just a retweet". He literally wrote that he supported it.

I'm responding to the post above, not TFA.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#176

Post by lavezzi »

tombert wrote: post #113
Aurornis wrote: post #103

Earlier quoted context omitted.

The timing was definitely chosen to let it get lost in the noise. It also plays neatly into conservative ideals of letting the free market reign and “do your own research” is an excuse for everything. It’s trendy to blame only the buyers of these coins while praising the creators as genius marketers. That said, the Trump and Melania coins have generated a lot of anger in the crypto space. At first people were twistin…

It's so transparently a way for Trump to extract money from his constituents that a part of me wants to respect it. But no one deserves to be scammed. I don't really get along with Republicans, I gotta admit I don't really like most Republicans now, and I find the Republican platform reprehensible, but I wouldn't wish being scammed for a conman on my worst enemy.

> It's so transparently a way for Trump to extract money from his constituents that a part of me wants to respect it.

It's also a potential rail to launder bribes and campaign funding, you name it.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#177

Post by ttoinou »

littlestymaar wrote: post #174
ttoinou wrote: post #164

Earlier quoted context omitted.

Not everyone believes in Modern Monetary Theory

Not everyone believes the earth isn't flat either unfortunately. There's no need to adhere to a particular economic theory (I'm not particularly familiar with MMT) to realize that, at societies scale, money isn't some kind of scarce commodity.

The government spending more money makes money less scarce [0], at any scale (macro, micro etc). That's what we're talking about here.

[0] Unless you believe in MMT

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#178

Post by Daishiman »

chubot wrote: post #149
throwcatowayne wrote: post #141

Earlier quoted context omitted.

> he is more intent on building his subscriber count than actually asking tough questions. It's quite a sad indicator of the state of knowledge in the world where Fridman is considered the more "intellectual" of pop podcasters when the most popular podcasts are crap like Rogan, Shawn Ryan, Candace Owens, and Call Her Daddy. Because Fridman will literally have a guest with platform A, like Netanyahu, and agree on 95%…

I don't actually see a problem with that ... He is uncritical, yes. But he doesn't deny being uncritical. It's a useful "service" to get people with diametrically opposite viewpoints to talk freely, and he does that well The interviewer doesn't need to impose their world view on the guest, or the audience -- it's OK to let the audience make up their own minds. Contradictions aren't inherently bad, either ... "consist…

It's not useful if you don't push back on people who have agendas and who are willing to lie their teeth off to promote whatever grift they're pushing.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#179

Post by lavezzi »

dysoco wrote: post #69

Just to clarify, here are some important differences compared to the Trump case: 1. Milei did not sell this as a memecoin at all, unlike Trump, he sold it as a "financial instrument to help finance small Argentinan enterprises". 2. Trump tweeted about $TRUMP BEFORE stepping into office, Milei is already the president of Argentina. This constitutes an obvious ethical violation, and possibly a legal one as well. 3. 80%…

> 2. Trump tweeted about $TRUMP BEFORE stepping into office, Milei is already the president of Argentina. This constitutes an obvious ethical violation, and possibly a legal one as well.

As in three days before Trump's inauguration? And then $MELANIA the day before? Yes, absolutely no obvious ethical violation there (https://www.reuters.com/world/us/trumps-new-crypto-coin-spar...).

> The companies behind the Trump token, CIC Digital LLC, an affiliate of the Trump Organization, and Fight Fight Fight LLC, co-owned by CIC Digital, collectively own 80% of the tokens, meaning that Trump-linked businesses could have gained $8 billion worth of crypto over the weekend.

Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M

#180

Post by krowek »

valcron1000 wrote: post #128
dysoco wrote: post #69

Just to clarify, here are some important differences compared to the Trump case: 1. Milei did not sell this as a memecoin at all, unlike Trump, he sold it as a "financial instrument to help finance small Argentinan enterprises". 2. Trump tweeted about $TRUMP BEFORE stepping into office, Milei is already the president of Argentina. This constitutes an obvious ethical violation, and possibly a legal one as well. 3. 80%…

[flagged]

Easy champ. This is not X.
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