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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

#31

Post by XMPPwocky »

EGreg wrote: post #22
topranks wrote: post #7

Earlier 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).

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 sour…

I think your pitch would be significantly stronger if the resources you linked didn't largely revolve around "What if Snoop Dogg had his own currency?"

I'm not ... completely unable to be persuaded that there are use cases for cryptocurrency. But "Ashton Kutcher should have Aston Kutchercoin, and develop some sort of referral-based pyramid-shaped scheme with it for his fans" is... what is that?

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

#32

Post by catlover76 »

raziel2701 wrote: post #18

How 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).

[dead]

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

#33

Post by digdugdirk »

EGreg wrote: post #22
topranks wrote: post #7

Earlier 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).

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 sour…

Question for you - what are the most energy efficient crypto protocols that could serve as the underlying network for a distributed system? And have there been any studies that look at the total energy consumption of a system of any reasonable size using various crypto protocols?

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

#34

Post by droptablemain »

The Solana trenches are effectively a giant crime-riddled casino. Everyone who plays understands this -- you can make money but you're essentially gambling. I'm not saying this is OK, but it's the current state of things.

When this $Libra token launched, everything else dumped as capital flowed into it, and then effectively got siphoned off by insiders. So even people that didn't chase "Argentina's coin" got screwed. Rinse, lather, repeat. There are some winners in this game, mostly insiders and cabals, but a whole bunch of losers.

I would say something's gotta give, but the stark reality is that America's casinos are always jampacked with dream chasers.

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

#35

Post by catlover76 »

throwaway314155 wrote: post #20
xrd wrote: post #12

Earlier quoted context omitted.

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…

[flagged]

He is talking about Argentinian President, not Trump

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

#36

Post by franciscop »

tombert wrote: post #17

Christ, 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…

Because he didn't. As he explains, it seems like all he did was do a retweet of what he thought might be a good thing (like he does a lot), not create the coin and not profited from it. According to his own words:

> "A few hours ago I posted a tweet, as I have so many other times, supporting a supposed private enterprise with which I obviously have no connection whatsoever. I was not aware of the details of the project and after having become aware of it I decided not to continue spreading the word (that is why I deleted the tweet)."

Either the headlines know something we don't know to say he "backtracks on a memecoin" and "Argentinian President Milei launched a memecoin, $LIBRA" or they are not true. Given the context, it seems to be the latter, so I wonder why they'd be lying?

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

#37

Post by [deleted] »

tombert wrote: post #17

Christ, 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…

[deleted]

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

#38

Post by Daishiman »

xrd wrote: post #8
xrd wrote: post #4

I was excited about Cabbage Patch Kids, but I missed $TRUMP. Where is the $PUTIN token?

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…

You got conned. Anyone who watches his actual interviews first hand can see that he’s mentally unstable, holds a degree from a third-rate university, and is more concerned with his own narcissistic tendencies than actually governing.

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

#39

Post by tombert »

dashundchen wrote: post #30
tombert wrote: post #17

Christ, 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.

[flagged]

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

#40

Post by [deleted] »

throwaway314155 wrote: post #20
xrd wrote: post #12

Earlier quoted context omitted.

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…

[flagged]

[deleted]
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