Earlier quoted context omitted.
I don't get the point you're trying to make?
That legitimate stores of value are typically not that simple to manipulate.
Like real estate?
Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
21–30 of 383 posts
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#22Surely all cryptocurrencies are memecoins. There's very little debt in these things, so that it isn't a source of value, and there are many popular systems, from Bitcoin to Ethereum, so isn't any that can be said to be somehow special.
Crypto adherents seem to have given up on any other narrative this time yeah. Scammers gonna scam. Suckers gonna lose (including the suckers who fancy themselves as scammers but don’t realise it’s a rigged game).
I am a “crypto adherent” who champions decentralized networks and byzantine-fault-tolerant protocols, and I have been using strongly pushing for the original narrative of trustless smart contracts cutting out the middleman. I think there are many use cases for it.
Before you knock it, look at the following:
https://intercoin.app/investors.pdf
https://intercoin.app/currencies.pdf
Or if you want to see actual open source solutions, coded, see here:
https://intercoin.org/applications
I know some people will knee-jerk downvote this. But actually look into the substance, first.
TLDR: I have been speaking against “HODL” and zero-sum games just for “number go up” nonsense, and been building solutions for maximum utility.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#23Earlier quoted context omitted.
In all honesty, I've read a bunch of positive articles about Millei, and watched the Friedman interview with him. He has multiple economics degrees and really seems to understand economics in a way that Trump does not, IMHO. And, so this is horribly embarassing that he does not understand the basics of cryptocurrencies and tokens and the scoundrels. Understanding economics is not the only point when you are running a…
> this is horribly embarassing He made a mistake and backtracked instead of instinctively doubling down. Count your blessings.
[deleted]
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#24Surely all cryptocurrencies are memecoins. There's very little debt in these things, so that it isn't a source of value, and there are many popular systems, from Bitcoin to Ethereum, so isn't any that can be said to be somehow special.
Crypto adherents seem to have given up on any other narrative this time yeah. Scammers gonna scam. Suckers gonna lose (including the suckers who fancy themselves as scammers but don’t realise it’s a rigged game).
In the US you can’t grant coins any ownership or benefits that might vary in value. Meme coins are the only legal crypto so that’s all you get. It’s like Obama only legalizing giant pickup trucks.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#25How come Milei, a master economist, go on to promote something he later said he didn't understand? This is the quality of leaders coming into power all over the world. Bunch of incompetent people (in the most charitable read of the situation) or bunch of grifters (in the least charitable read).
Milei, a master economist? Great joke!
Some reports indicate he gets paid to say things about products or companies, which has more credibility because he’s, you know, the president. And that’s what happened with this meme coin thing.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#26Earlier quoted context omitted.
You don't seem to be considering the possibility that he knew perfectly well what he was doing, and that this was intentional. Rug pulls are popular among celebrities.
You are right, I assumed he was principled and dedicated to the good of the country above all else. Should I reconsider that? Like I said, I read positive things about him and thought was a sincere person. If you have something else I should read, I would be very interested to know what to add to my list. I've been following Argentina's struggles for a while given my time in Brazil and the parallels to hyperinflation…
I also had a good impression from hearing him speak. He's clearly highly educated and intelligent. But he's also a supporter of Carlos Menem, a famously corrupt politician in the long history of corruption in Argentina.
Whether or not Milei truly wishes to help his country, or if he's using his power for personal gain, is difficult to say. As an outsider, I don't have an informed opinion. But I'm inclined to believe that the truth is somewhere in the middle. The reality is that the vast majority of people who seek political power are egomaniacs and sociopaths. Very few actually want to help their country.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#27Surely all cryptocurrencies are memecoins. There's very little debt in these things, so that it isn't a source of value, and there are many popular systems, from Bitcoin to Ethereum, so isn't any that can be said to be somehow special.
If Trump (or whoever) goes on social media to promote Bitcoin, it'll probably pump 5%-10%. And if it falls, it'll fall roughly back down to where it was. If he goes on to promote some unknown shitcoin, said coin could easily pump 1000%, and fall harder.
He did a rugpull in a shitcoin right before his inauguration and likely pulled megaprofit out of some bag holders.
https://www.reuters.com/markets/currencies/trumps-meme-coin-...
Any other administration this would have been a huge scandal but when we're in an avalanche of corruption I guess it can be missed.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#28Earlier quoted context omitted.
Crypto adherents seem to have given up on any other narrative this time yeah. Scammers gonna scam. Suckers gonna lose (including the suckers who fancy themselves as scammers but don’t realise it’s a rigged game).
In the US you can’t grant coins any ownership or benefits that might vary in value. Meme coins are the only legal crypto so that’s all you get. It’s like Obama only legalizing giant pickup trucks.
Can you name a single ICO that produced something of value before the SEC cracked down on what are (obviously) unregistered security offerings?
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#29Earlier quoted context omitted.
Crypto adherents seem to have given up on any other narrative this time yeah. Scammers gonna scam. Suckers gonna lose (including the suckers who fancy themselves as scammers but don’t realise it’s a rigged game).
In the US you can’t grant coins any ownership or benefits that might vary in value. Meme coins are the only legal crypto so that’s all you get. It’s like Obama only legalizing giant pickup trucks.
The idea that “you must be regulated as a security” and “you cannot issue” are synonymous is one of the weirder parts of modern crypto.
Re: Javier Milei backtracks on $4.4B memecoin after 'insiders' pocket $87M
#30Christ, why is it just ok for politicians to outright create and promote Ponzi and Pump 'n Dump schemes? It doesn't seem that long ago that this would have been a scandal but now with the moron in the Oval Office creating his own meme coins without even trying to hide his business interests, and now the president of Argentina is doing the same shit? Is this really the world that we want? I mean, I guess the answer is…
Insane timeline. Jimmy Carter had to sell his unprofitable peanut farm to avoid the appearance of conflict of interests, but the current president did a shitcoin pump and dump and his supporters eat it up and ask him for more.