• MothmanDelorian@lemmy.world
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    7 days ago

    This is not a rugpull but a readjustment. The purpose of this coin and Melania’s coin is to get around laws preventing foreign sources from donating to or bribing Trump.

    • rayyy@lemmy.world
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      6 days ago

      Well yes and no. It’s a way for foreign countries to launder their bribes. They “buy” the coins knowing he will get the money. The quasi-rug-pull part is him extracting the laundered money. Everyone, except his shit-head followers, understands this.

      • MothmanDelorian@lemmy.world
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        6 days ago

        I suspect this coin might not be a complete rugpull though. I suspect the rugpull cones at the end if his term or when he dies whichever comes first.

  • phughes@lemmy.ca
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    7 days ago

    The first I heard of Trump’s memecoin was a headline declaring it was worth $25 Billion. I’m a pretty online person, so I tend to hear about these things pretty quickly. The article said it was worth $9 billion in 12 hours.

    $9 billion is an unimaginable amount of money for any number of people to decide to “invest” in under 12 hours. The only way I can explain that happening is if many, very wealthy people, had been notified about the coin going up for sale ahead of time and wanted to curry favor with Trump.

    What a fucking embarrassment this country is.

    • futatorius@lemm.ee
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      6 days ago

      People have not actually put $9 bn into it. The value is crudely extrapolated from price and volume, but there’s nothing actually there.

      • phughes@lemmy.ca
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        6 days ago

        I guess that makes sense. So if they only sell 1 coin out of 1 million and they sell it for $100 then they can walk around saying the lot of coins as a whole are worth $100 million? (obviously a simplified example)

    • CharlesDarwin@lemmy.world
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      6 days ago

      I’m not even sure which exchange(s) it is on? I wonder if it’s almost entirely about laundering money and almost none of the peasant redhats put money into it.

  • CharlesDarwin@lemmy.world
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    7 days ago

    This is the Rug Pull Administration, after all. Might as well kick it off with really, really big and obvious grift.

    • futatorius@lemm.ee
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      6 days ago

      Unless and until he is stopped. I wonder if anyone is trying to take down the exchange?

  • Destide@feddit.uk
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    6 days ago

    On closer inspection the rug has been made with a row of pulleys which were attached to f350’s rolling coal. So you can understand the suprise.

  • grue@lemmy.world
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    8 days ago

    Jimmy Carter sold his fucking peanut farm, and now this is the point we’re at.

    • CharlesDarwin@lemmy.world
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      7 days ago

      …And that’s not the Onion? Looks like she is laughing so hard at the idiot peasants getting rug-pulled already in that pic.

      And also: “you can buy Melania”? Um, phrasing?

      • some_guy@lemmy.sdf.org
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        8 days ago

        It actually seems like it feels pretty great. The downside is you’re probably some degree of sociopath or other disorder. But I’m neither qualified nor experienced to diagnose.

      • Track_Shovel@slrpnk.net
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        8 days ago

        A friend and I were discussing this. It seems like these days it’s more rewarding, objectively, to be a shitbag than to actually be a good human. We’re constantly being played for suckers despite having morals. Everyone else is cheating in this tragedy of the moral commons.

        • futatorius@lemm.ee
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          6 days ago

          It has always been like that.

          I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.

        • rational_lib@lemmy.world
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          7 days ago

          There’s a selection bias, we usually hear about the most successful shitbags. Most ordinary shitbags live pretty terrible lives. Just look at the life of the typical red state resident. Usually working their ass off in a blue collar for some plutocrat who abuses them, subjected to country music all day long. Almost makes me feel bad for them.

          • futatorius@lemm.ee
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            6 days ago

            There have been studies done that show that the prevalence of Dark Triad traits rises, the higher you look in a hierarchical structure. C-suites have roughly three times the prevalence of these traits compared to the general population. The selection is being done by the system.

            Other societies (as an anecdotal example, the Inuit) have ways of removing such individuals from the population because of the damage they do to group survivability. Take one out ice-fishing, push him in the hole, 3 minutes later, problem solved.

          • futatorius@lemm.ee
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            7 days ago

            Most ordinary shitbags live pretty terrible lives

            Same goes for most ordinary non-shitbags.

            • FMT99@lemmy.world
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              7 days ago

              The point is, just because one shitbag gets away with it, that shouldn’t motivate you to also become a shitbag.

      • ours@lemmy.world
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        7 days ago

        The sci-fi books/series “The Expanse” features a rogue lab where all the scientists got the part of their brain responsible for empathy intentionally destroyed.

        I sometimes think about that and wonder what it would be to be like that. How easy it would be to make a ton of money. And how sad it must be for these people to live only for themselves.

    • Chozo@fedia.io
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      8 days ago

      Isn’t calling it a meme supposed to be the quiet part? I thought we called them “meme” coins because everybody was in agreement that the coin wasn’t meant to be taken seriously?

      • towerful@programming.dev
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        8 days ago

        Nah, you call it a meme so everyone doesn’t look at it too closely.
        It’s like the typos in scam emails and texts.
        The people that would actively investigate such a thing dismiss it immediately.
        The stupid people buy right into it.

    • Bob Robertson IX@lemmy.world
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      8 days ago

      skeet (the generally accepted term for a Bluesky post)

      Can we just agree that they are all just “posts”? No more “tweets”, “Toots”, “xeets”, etc… it’s just a post.

    • audaxdreik@pawb.social
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      8 days ago

      History from someone who moved to the platform early on:

      A lot of the early adopters were the queer and trans community, first to leave Twitter after Musk’s meddling and most sensitive to the changes he was making. (In this context I don’t mean sensitive as in “snowflake”, I mean sensitive as in “aware of inevitable changes and resultant catastrophe” - when someone shits in the pool you don’t wait wait for the water to turn brown). They took the gross out humor and used it as a ward to keep some of the other elements from following over. Now they defend the term as history.

      I don’t particularly agree, I understand the basis for it but ugh, it’s still gross. I keep advocating for “bleats” which kind of works as “Bluesky tweet” and leans into us all being sheep; something I find cute and take no offense at because it’s a toothless insult wielded by deeply unserious people. Alternatively, I think we should’ve just straight stolen tweet since the trademark or whatever has been abandoned at this point (???). Failing that, I’ll probably resort to just calling them posts, there’s no point in fighting momentum like this and I imagine it’ll probably settle down onto something else once the platform gets over its first wave of serious growing pains … if it lives that long.

  • HelixDab2@lemm.ee
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    7 days ago

    This is a clear and obvious pump-and-dump. Anyone that falls for this deserves to be fleeced.

  • ExtremeDullard@lemmy.sdf.org
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    8 days ago

    Look at the bright side: only a die-hard magard would fall for this grift. So when Trump pulls the rug, the magards will finally realize they’ve been took.

    In other words, Trump is innoculating his own followers with the cure for Trumpism.

    • NaibofTabr@infosec.pub
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      8 days ago

      So when Trump pulls the rug, the magards will finally realize they’ve been took.

      Bless your heart.

      No, no it will be the democrats’ fault somehow. Or brown people. Or both. Probably both.

    • IHeartBadCode@fedia.io
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      8 days ago

      the magards will finally realize they’ve been took

      No they won’t. They will line up for the next one. The only reason they will ever stop is because they have nothing left. And then when they have nothing they will blame immigrants, woke, Soros, or whoever for their lot in life.

      There are people who exist in this world who can not comprehend that the actions they take lead in part to the consequences that follow. The only thing that can be done is to watch from the side them losing everything and then getting out of the way as best one can in their fit of rage.

      Sort of like a person with a gambling addiction putting the last $10k of their life savings into a slot machine. We know what’s going to happen, there is nothing that can stop it from happening.

    • ALoafOfBread@lemmy.ml
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      8 days ago

      This was a money laundering scheme. Foreign governments and companies (foreign and domestic) who want favor with trump are the ones who bought in.

    • jonne@infosec.pub
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      7 days ago

      Trump has been running the same scams for decades. There’s probably tons of bag holders for his NFT scam that are loading up on TRUMP and MELANIA. He’s got a whole mailing list of gullible marks and he keeps butchering that pig until there’s nothing left.

    • PSoul•Lemmy@lemmy.world
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      8 days ago

      He’ll just gish gallop his way out of it. Whatever smoke screen he comes up with will make his followers lose focus on all the money they have lost. Example:

      Oh wow, look at this immigrant caravan from Panama. Let’s invade and stop them.

      • ShepherdPie@midwest.social
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        8 days ago

        Or he’ll just claim he wasn’t a part of it and “some very bad people” are the ones responsible for their losses.