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muriel_volestrangler

(103,000 posts)

13. The theoretical price of what he was given is not what he could sell for

Sun Jan 19, 2025, 04:38 PM

Jan 19

Because if he tried to sell it all, the price would collapse.

But some of the meme coin has been traded; and the question is: how much by Trump, or by his cronies? Is there a proper mechanism to track who is profiting? I suspect not - crypto is, well, cryptic and hidden. Designed to avoid taxation by avoiding proper accounting. So some of the profit will be in the Trump camp - whether the people it's at the expense of intend Trump to profit (ie it's a bribe), or if they just think they can trade and still make their own profit (which is possible, but they're at a disadvantage to Trump who got his coins for free), who knows.

It is, however, such a rich field for corruption and profiting off public office that nothing in US history comes close.

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William Seger BeyondTheVeilJack

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Highlight:

Trump's Meme Coin Has Reportedly Netted Him More Than $50 Billion On Paper in Just 48 Hours [View all] Mr. Sparkle Jan 19 OP

And the grifting continues. Can ANYTHING or anyone stop it?? Callie1979 Jan 19 #1

They're incensed when they pay $1-2 for a dozen eggs, but no_hypocrisy Jan 19 #2

So true. I also wonder about money laundering and all the people that want to pay to play tulipsandroses Jan 19 #5

Got one better IMO. no_hypocrisy Jan 19 #7

$1-$2 for a dozen eggs? Where are those available? Bengus81 Jan 20 #51

I meant more/extra no_hypocrisy Jan 20 #53

The blatant corruption is astounding. tulipsandroses Jan 19 #3

Hard to get excited over this Raven123 Jan 19 #4

Remember how much his supporters talked about his unselfishness in not accepting a salary? D. Spaulding Jan 19 #6

BS.... Lovie777 Jan 19 #8

How soon will he direct the US Treasury to buy his crypto and coins from the gold reserves? keithbvadu2 Jan 19 #9

I'll guess 4catsmom Jan 19 #17

He's suggested we need a crypto reserve Yo_Mama_Been_Loggin Jan 20 #37

It's meme crypto. Any crypto is only worth what people are willing to accept for it Bernardo de La Paz Jan 19 #10

I don't think many Americans have crypto accounts, do they? FakeNoose Jan 19 #12

approximately 27% of American adults now own crypto. progressoid Jan 20 #47

Call me an idiot.... LilElf70 Jan 19 #11

The theoretical price of what he was given is not what he could sell for muriel_volestrangler Jan 19 #13

Bingo...the article does say..."on paper." PortTack Jan 19 #21

With Humpty Dumpty LilElf70 Jan 19 #24

It's already tanking........ Bengus81 Jan 20 #52

If he uses this to screw over his cult 4catsmom Jan 19 #14

Oh boy another 3.95 trillion Marthe48 Jan 19 #15

Remembering the days when republicans The Unmitigated Gall Jan 19 #16

How long before Diaper Don starts selling his used Buddyzbuddy Jan 19 #18

Well, I think his "Fight, Fight, Fight" perfume... William Seger Jan 19 #23

it depends.................. Celerity Jan 19 #29

Ah, I see what you did there. 😆 Buddyzbuddy Jan 20 #38

Not to worry. Mr. Evil Jan 20 #44

It's not real money. Igel Jan 19 #19

Gonna be a long two or four years bluestarone Jan 19 #20

The absurdity of that headline speaks volumes about the absurdity of cryptocurrencies William Seger Jan 19 #22

This evening, it has already lost 35% of its paper value. PortTack Jan 19 #25

Here comes the rug pull! Crowman2009 Jan 19 #32

YES! And I fully expect it to collapse even more, in price. Especially when they are touting $50+ billion or more SWBTATTReg Jan 20 #46

re: "Taxes on some $50+ billion dollars?" - It's not income, it's wealth, and we have no wealth tax. thesquanderer Jan 20 #55

The ones he's sold is income already. SWBTATTReg Jan 20 #57

Stupidity of people never fails to amaze me. When this whole f**king mess implodes, I will sit back and watch the JohnSJ Jan 19 #26

Why no. It's definitely not a mechanism for bribes and grift. LearnedHand Jan 19 #27

I don't want to hear Diamond_Dog Jan 19 #28

try to imagine if it was a DEMOCRAT doing this Skittles Jan 19 #30

And they have what collateral backing this? Super citizen power? Magic beans? Initech Jan 19 #31

Magats and Tech Bros seem disappointed by this move flamingdem Jan 19 #33

Is this like printing your own money? BarbD Jan 19 #34

I wrote "IOU $1" on a piece of paper. Aussie105 Jan 20 #35

Skeptical Yo_Mama_Been_Loggin Jan 20 #36

$MELANIA is coming up Diraven Jan 20 #39

$melania is already out. Up 80% masmdu Jan 20 #43

Jesus Fucking Christ Blue Owl Jan 20 #40

Like a Rollin Stone tirebiter Jan 20 #41

Haven't heard much about the non fungicide tokens lately . . . Aussie105 Jan 20 #42

The higher it goes, the harder it will fall IzzaNuDay Jan 20 #45

If any country wants to bring Trump and the USA down, they can just refuse to accept crypto, especially Trump crypto. Jit423 Jan 20 #48

I am so happy! Kid Berwyn Jan 20 #49

Possible silver lining... jmbar2 Jan 20 #50

What people are missing in much of this and other "moves" moniss Jan 20 #54

Trump wouldn't know how to pull this off... it's Musk. Which means Musk is ultra-secure in his position... thesquanderer Jan 20 #56