It is stunning that President Trump has actually decided to give credibility to fake money, which ought to remind students of history of the Duke of Orleans and John Law’s fake money scheme which ended in the Mississippi Bubble and the good people of France paying the price of John Law’s fake money.
Has anyone noticed when our big media talks about “bitcoin” the following image is shown?
And that is part of the con . . . there is no tangible thing as a bitcoin, it has no intrinsic value its worth is based upon abstract figures generated by the human mind, and most importantly, it is trading in the shadow and not the substance. And that is why its advocates have invented an image of a bitcoin . . . a necessary gimmick in giving credibility to an illusion.
Hopefully someone during Trump’s next news conference will ask President Trump to display one of the “bitcoins” he’s decided to stockpile at the taxpayer’s expense.
why is there surprise. Trump only embraced crypto where he previously opposed it because there is easy money to be made there ie Trump and Melania meme coins. He’s also turned Truth Social into the crypto space. Yes its 2025 Tulips but as long as you’re not left holding the bag then its good from the perspective of the crypto space enthusiast and Trump won’t be holding the bag ever, it will be some MAGAs.
its clear you are late to the crypto party and its ok but stick to the facts. Utility in the crypto space is gone, it had some promise in the early days but people don’t buy crypto for its usage, its a pure speculative instrument, more like penny stocks. Trump knows how to make money and some shady people got his ear and he went all in, to include pumping up his meme coins which each by itself at one point had more paper value than his net worth.
Not a good thing if he is involved in crypto policy and his family is making money off of it. Easy to protect yourself from, though. Don’t get involved in gambling with crypto.
Today, 3/7/2025 Carl Higbie’s guest on Newsmax lied when she asserted that the advantage of bitcoin is its non-inflationary characteristic and citied an inflation rate of “the dollar”
NEW YORK, Feb 3 - Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.
The meme coin, known as $Trump, was launched by the president on Jan. 17 and quickly surged, reaching a peak of over $14.5 billion in overall market value by Jan. 19, the day before his inauguration. It has since slumped by two-thirds.
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Three crypto data firms, including Merkle Science and Chainalysis, analyzed the blockchain, a publicly available ledger that shows all transactions involving $Trump, for Reuters. They estimated that the $Trump token had generated between $86 million and $100 million in trading fees by Jan. 30.
The estimates far exceed what has been previously reported.
One of the entities behind the crypto coin is a company owned by Trump, called CIC Digital. The official website for $Trump says CIC Digital will “receive trading revenue derived from trading activities” of the meme coin. Reuters could not determine what portion of the fees so far, if any, had accrued to Trump personally, nor the ownership of the other entities behind the coin.
“Cryptocurrency is a medium of exchange, created and stored electronically on the blockchain, using cryptographic techniques to verify the transfer of funds and an algorithm to control the creation of monetary units. Bitcoin is the best known example.”
