Yes they should be illegal, no they are nothing like a memecoin.
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
Meme coin is no different than the pet rock, which made millions and millions. In America, people get to decide on value/worth themselves, so stop whining. Nobody is forcing you to buy it.
I’m “whining” because I asked a question or have a different opinion? Did I tell you to stop pumping sh!t coins? So then why are chain letters different? Nobody is forcing someone to send one dollar to ten people. Let people send money wherever and to whoever they want - right? Nope - the law says it’s mail fraud or a lottery scam.
No issue with our billionaire POTUS selling pet rocks to moron U.S. citizens? Asking for a friend…
So how does this work? Will you get a tax statement showing the capital gains?
I know for my Bitcoin ETF I will get a 1099.
Not sure if those peer-to-peer wallets/services issues 1099s. Coinbase tracks everything for you and can be automatically uploaded to TurboTax (which I use). BTC ETFs are obviously on traditional investment platforms.
Nope. I have to use a third party software to track and report gains, it generates a report for my accountant. A bit of a nightmare. If you use Coinbase they do this for you, just limited on what you can trade there. Hoping Trump follows through with no capital gains on American launched coins.
I really don’t know what some of you are talking about. This is all perfectly sustainable and normal behavior. (Read that in a sarcastic tone please.)
Seems there is more to the token than meets the eye
"The $TRUMP token, which reached a market capitalization of nearly $6 billion within 24 hours of its launch, represents more than just another entry in the booming cryptocurrency market–it seems poised to serve as a vehicle to force the U.S. Supreme Court to definitively rule on the Constitution's Emoluments Clause while simultaneously helping challenge crucial governmental oversight regulations which help tackle financial crime...
The $TRUMP token, launched yesterday on the Solana blockchain platform, appears neatly structured to challenge traditional interpretations of what constitutes an emolument under the Constitution.
The token's ownership is concentrated in two entities: CIC Digital LLC, an affiliate of The Trump Organization, and Delaware company Fight Fight Fight LLC, which collectively control 80% of the token supply. This arrangement creates a direct line between foreign purchases of the token and revenue flowing to Trump-affiliated entities. "
www.hackingbutlegal.com
"The $TRUMP token, which reached a market capitalization of nearly $6 billion within 24 hours of its launch, represents more than just another entry in the booming cryptocurrency market–it seems poised to serve as a vehicle to force the U.S. Supreme Court to definitively rule on the Constitution's Emoluments Clause while simultaneously helping challenge crucial governmental oversight regulations which help tackle financial crime...
The $TRUMP token, launched yesterday on the Solana blockchain platform, appears neatly structured to challenge traditional interpretations of what constitutes an emolument under the Constitution.
The token's ownership is concentrated in two entities: CIC Digital LLC, an affiliate of The Trump Organization, and Delaware company Fight Fight Fight LLC, which collectively control 80% of the token supply. This arrangement creates a direct line between foreign purchases of the token and revenue flowing to Trump-affiliated entities. "
Constitutional Crypto: How TRUMP's Solana Token Could Force a SCOTUS Showdown
Donald Trump's launch of a cryptocurrency token days before his inauguration has set the stage for what could become a landmark test of presidential power.
www.hackingbutlegal.com
In other words it’s exactly what I said. He wants a legal avenue to take bribes and dump on retail and he’ll get it. Might as well buy the thing at this point after SCOTUS rules in his favor it will go ballistic atleast for a few daysSeems there is more to the token than meets the eye
"The $TRUMP token, which reached a market capitalization of nearly $6 billion within 24 hours of its launch, represents more than just another entry in the booming cryptocurrency market–it seems poised to serve as a vehicle to force the U.S. Supreme Court to definitively rule on the Constitution's Emoluments Clause while simultaneously helping challenge crucial governmental oversight regulations which help tackle financial crime...
The $TRUMP token, launched yesterday on the Solana blockchain platform, appears neatly structured to challenge traditional interpretations of what constitutes an emolument under the Constitution.
The token's ownership is concentrated in two entities: CIC Digital LLC, an affiliate of The Trump Organization, and Delaware company Fight Fight Fight LLC, which collectively control 80% of the token supply. This arrangement creates a direct line between foreign purchases of the token and revenue flowing to Trump-affiliated entities. "
Constitutional Crypto: How TRUMP's Solana Token Could Force a SCOTUS Showdown
Donald Trump's launch of a cryptocurrency token days before his inauguration has set the stage for what could become a landmark test of presidential power.
Plenty of morons voted for this convicted felon, pathological liar, narcissist, rapist, grifter, and tax cheater. Sure plenty of those idiots will buy anything from Rump.
You have to change your mindset for the next 4 years. No longer look after your neighbor or try to think about the best decision for your community. The shift is to get yours and if that means a bunch of people who don’t know how the system works go broke, so be it.
Michael Saylor is insane (in the long run). Saw a clip of him comparing Bitcoin to New York City real estate over the past 300 years. If your BTC sales pitch is that bonkers then it is only a matter of time until another coin or coins with better sales pitches hit a trillion dollars or higher market cap.
Limited amount of land, limited amount of BTC. Very similar.
He’s either insane or one of the smartest people to ever walk the earth. Up to 461k bitcoin at an average cost of $63k. $29.3 billion in holdings. He just doesn’t stop buying.
I won my bet on Ohio State last night. It just occurred to me that means I’m taking money from those who lost their bets. Should I give it back?
I won as well. Good for you. Sports betting is different than politics. It’s a different mindset for some of us that feel government should have some regulations and not be leading the grift. That’s all.
And this is why there’s no mysterious “bag man” behind the scenes selling $trump or rugging happening. When you launch a memecoin you set up a liquidity pool to allow for early trading. The Trump team wallet has made over $500M in fees from this pool thus far.
I hear ya, just busting balls. Fingers crossed I sold my coins to the Russians and they are down 50%
Portnoy made $1M on Trump coin in less than 24 hours and then put it on the Bills to win SB.
Lots of bad press from crypto-enthusiasts calling out Trump’s stunt as bad for the industry although nothing will ever happen. It may be one of the craziest heists in history with the set-up occurring just two days before inauguration. Four years of kleptocracy!
Very long but a good presentation of the facts/opinions about the coin launch and its implicatoins.
But this wasn’t the big story of the weekend.
The talk of the last few days was the $TRUMP meme coin launched by President Trump and his team. The coin was announced just hours after SEC Chairman Gary Gensler walked out of his office Friday night for the last time.
Within hours, the TRUMP token reached a $10+ billion market cap. The all-time high for the market cap eventually hit more than $70 billion. Given that President Trump and his team own approximately 80% of the supply, this means they had over $55 billion of value to their name.
It is important to explain that Trump’s allocation of the supply was not liquid. The token structure has a 3-year vesting schedule and there are no team sales available for at least the first 3 months.
Many people will be confused how Trump’s meme coin could reach a $70 billion market cap, but you have to remember that Trump’s DJT stock is currently trading at more than $6.5 billion valuation on about $4 million of annual revenue.
Traditional stock market investors should be careful throwing rocks in a glass house when criticizing crypto’s lack of fundamentals.
So many of you are probably wondering — what does Anthony think about the TRUMP token launch?
The answer is quite complicated.
First, the economic incentive for a large brand or celebrity to do this is obvious. There are not many people who would turn down the opportunity to capture billions of dollars in value.
Second, the structure and launch of the TRUMP token suggests that professionals were involved. This wasn’t a pump-and-dump meme coin, but rather a coin that was launched with multi-year vesting and the tools used increased the odds of the team not being able to exploit the early excitement.
Third, there are plenty of people who will criticize the President of the United States for launching a meme coin as he takes office. There are plenty of politicians like Nancy Pelosi who appear to have a significant advantage when trading with inside information, but we have never seen something like what we saw this weekend. There will be questions related to ethics and conflicts of interest.
Fourth, I have not been a big fan of meme coins in the past and I did not buy the TRUMP token. I understand why so many people did. I think it is important that these people have their right to buy the token protected. But it just isn’t for me. I have a different investment strategy.
Fifth, people are trying to judge the success or failure of this project after 72 hours. That is a great way to ensure your analysis is wrong. Instead, there are big questions that we need answered—what will the price performance be 2 years from now? Will the token be a true meme coin or will the Trump team incorporate utility into the coin? What will the Trump team do with the potential profits? I don’t have answers to these questions but that information will make the analysis much easier.
Sixth, Trump decided to launch the TRUMP token on the Solana blockchain. This may signal the changing of the guard between smart contract platforms. The last few bull markets have seen Ethereum be the smart contract blockchain of choice, but that feels like it officially changed this weekend. Solana did $30 billion in volume on Saturday, which is now 10% of Nasdaq’s daily volume.
Seventh, many people are excited about meme coins now that the President has launched one, but there is a strong argument that this launch will mark the top of the meme coin excitement. Who has a bigger brand than Donald Trump and the US President? I can’t think of one. This doesn’t mean the meme coins will go down from here, but it feels like Trump’s launch may signal something noteworthy about the market too.
Eighth, this coin launch seems to signal a different era for regulatory treatment of crypto. It is hard for regulators to go after market participants in the same way they have for the last four years if the President is launching meme coins. I don’t know how or where these changes will show up on a daily basis, but the shift feels obvious.
Lastly, I expect the next 4 years to be filled with uncertainty and increased volatility. Sometimes that volatility will be strategic and other times it will come as a second-order effect of the President’s style. We know Trump measures the success of the US economy by the stock market, and increasingly by the bitcoin price, so I anticipate both assets will continue to appreciate throughout the administration’s reign of power. The meme coin launch is just the introductory reminder to the fun, excitement, uncertainty, chaos, and challenges that exist with Trump driving the nation.
I am incredibly optimistic about the future of America. It was inspiring to see so many smart, influential tech leaders at the inauguration yesterday. There are significant obstacles facing the country right now, but the American people sent Donald Trump to the White House with a mandate to close the border, cut government spending, bring down inflation, make housing affordable, re-establish law & order, create a Strategic Bitcoin Reserve, refrain from entering any new wars, and ensure the future is brighter than the past for all the citizens.
Regardless of how you voted, we should all hope our leadership has the strength and courage to make the right decisions to fulfill this mandate.
Best of luck to the hard-working men and women of the administration who begin work to successfully accomplish their mission for the next 4 years.
God Bless the United States of America.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
My Thoughts On The TRUMP Token Launch
To investors,
Bitcoin hit a new all-time high of $109,000 yesterday morning. The fact this new record occurred on the same day that President Trump was sworn into office, while Wall Street’s market was closed, is about as poetic as it gets.But this wasn’t the big story of the weekend.
The talk of the last few days was the $TRUMP meme coin launched by President Trump and his team. The coin was announced just hours after SEC Chairman Gary Gensler walked out of his office Friday night for the last time.
Within hours, the TRUMP token reached a $10+ billion market cap. The all-time high for the market cap eventually hit more than $70 billion. Given that President Trump and his team own approximately 80% of the supply, this means they had over $55 billion of value to their name.
It is important to explain that Trump’s allocation of the supply was not liquid. The token structure has a 3-year vesting schedule and there are no team sales available for at least the first 3 months.
Many people will be confused how Trump’s meme coin could reach a $70 billion market cap, but you have to remember that Trump’s DJT stock is currently trading at more than $6.5 billion valuation on about $4 million of annual revenue.
Traditional stock market investors should be careful throwing rocks in a glass house when criticizing crypto’s lack of fundamentals.
So many of you are probably wondering — what does Anthony think about the TRUMP token launch?
The answer is quite complicated.
First, the economic incentive for a large brand or celebrity to do this is obvious. There are not many people who would turn down the opportunity to capture billions of dollars in value.
Second, the structure and launch of the TRUMP token suggests that professionals were involved. This wasn’t a pump-and-dump meme coin, but rather a coin that was launched with multi-year vesting and the tools used increased the odds of the team not being able to exploit the early excitement.
Third, there are plenty of people who will criticize the President of the United States for launching a meme coin as he takes office. There are plenty of politicians like Nancy Pelosi who appear to have a significant advantage when trading with inside information, but we have never seen something like what we saw this weekend. There will be questions related to ethics and conflicts of interest.
Fourth, I have not been a big fan of meme coins in the past and I did not buy the TRUMP token. I understand why so many people did. I think it is important that these people have their right to buy the token protected. But it just isn’t for me. I have a different investment strategy.
Fifth, people are trying to judge the success or failure of this project after 72 hours. That is a great way to ensure your analysis is wrong. Instead, there are big questions that we need answered—what will the price performance be 2 years from now? Will the token be a true meme coin or will the Trump team incorporate utility into the coin? What will the Trump team do with the potential profits? I don’t have answers to these questions but that information will make the analysis much easier.
Sixth, Trump decided to launch the TRUMP token on the Solana blockchain. This may signal the changing of the guard between smart contract platforms. The last few bull markets have seen Ethereum be the smart contract blockchain of choice, but that feels like it officially changed this weekend. Solana did $30 billion in volume on Saturday, which is now 10% of Nasdaq’s daily volume.
Seventh, many people are excited about meme coins now that the President has launched one, but there is a strong argument that this launch will mark the top of the meme coin excitement. Who has a bigger brand than Donald Trump and the US President? I can’t think of one. This doesn’t mean the meme coins will go down from here, but it feels like Trump’s launch may signal something noteworthy about the market too.
Eighth, this coin launch seems to signal a different era for regulatory treatment of crypto. It is hard for regulators to go after market participants in the same way they have for the last four years if the President is launching meme coins. I don’t know how or where these changes will show up on a daily basis, but the shift feels obvious.
Lastly, I expect the next 4 years to be filled with uncertainty and increased volatility. Sometimes that volatility will be strategic and other times it will come as a second-order effect of the President’s style. We know Trump measures the success of the US economy by the stock market, and increasingly by the bitcoin price, so I anticipate both assets will continue to appreciate throughout the administration’s reign of power. The meme coin launch is just the introductory reminder to the fun, excitement, uncertainty, chaos, and challenges that exist with Trump driving the nation.
I am incredibly optimistic about the future of America. It was inspiring to see so many smart, influential tech leaders at the inauguration yesterday. There are significant obstacles facing the country right now, but the American people sent Donald Trump to the White House with a mandate to close the border, cut government spending, bring down inflation, make housing affordable, re-establish law & order, create a Strategic Bitcoin Reserve, refrain from entering any new wars, and ensure the future is brighter than the past for all the citizens.
Regardless of how you voted, we should all hope our leadership has the strength and courage to make the right decisions to fulfill this mandate.
Best of luck to the hard-working men and women of the administration who begin work to successfully accomplish their mission for the next 4 years.
God Bless the United States of America.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
How were you "helping your community" the last 4 years when inflation was out of control, gas prices were at all time highs, taxes the same, and wages were stagnant? Promoting raises in taxes so more people could go on the dole?
The best thing you can do to help your neighbor is create an environment where business is booming, taxes are low, everyone is making money and supporting businesses because you have expendable income.
And why is getting rid of Chokepoint 2.0 so important? From earlier today:Very long but a good presentation of the facts/opinions about the coin launch and its implicatoins.
My Thoughts On The TRUMP Token Launch
To investors,
Bitcoin hit a new all-time high of $109,000 yesterday morning. The fact this new record occurred on the same day that President Trump was sworn into office, while Wall Street’s market was closed, is about as poetic as it gets.
But this wasn’t the big story of the weekend.
The talk of the last few days was the $TRUMP meme coin launched by President Trump and his team. The coin was announced just hours after SEC Chairman Gary Gensler walked out of his office Friday night for the last time.
Within hours, the TRUMP token reached a $10+ billion market cap. The all-time high for the market cap eventually hit more than $70 billion. Given that President Trump and his team own approximately 80% of the supply, this means they had over $55 billion of value to their name.
It is important to explain that Trump’s allocation of the supply was not liquid. The token structure has a 3-year vesting schedule and there are no team sales available for at least the first 3 months.
Many people will be confused how Trump’s meme coin could reach a $70 billion market cap, but you have to remember that Trump’s DJT stock is currently trading at more than $6.5 billion valuation on about $4 million of annual revenue.
Traditional stock market investors should be careful throwing rocks in a glass house when criticizing crypto’s lack of fundamentals.
So many of you are probably wondering — what does Anthony think about the TRUMP token launch?
The answer is quite complicated.
First, the economic incentive for a large brand or celebrity to do this is obvious. There are not many people who would turn down the opportunity to capture billions of dollars in value.
Second, the structure and launch of the TRUMP token suggests that professionals were involved. This wasn’t a pump-and-dump meme coin, but rather a coin that was launched with multi-year vesting and the tools used increased the odds of the team not being able to exploit the early excitement.
Third, there are plenty of people who will criticize the President of the United States for launching a meme coin as he takes office. There are plenty of politicians like Nancy Pelosi who appear to have a significant advantage when trading with inside information, but we have never seen something like what we saw this weekend. There will be questions related to ethics and conflicts of interest.
Fourth, I have not been a big fan of meme coins in the past and I did not buy the TRUMP token. I understand why so many people did. I think it is important that these people have their right to buy the token protected. But it just isn’t for me. I have a different investment strategy.
Fifth, people are trying to judge the success or failure of this project after 72 hours. That is a great way to ensure your analysis is wrong. Instead, there are big questions that we need answered—what will the price performance be 2 years from now? Will the token be a true meme coin or will the Trump team incorporate utility into the coin? What will the Trump team do with the potential profits? I don’t have answers to these questions but that information will make the analysis much easier.
Sixth, Trump decided to launch the TRUMP token on the Solana blockchain. This may signal the changing of the guard between smart contract platforms. The last few bull markets have seen Ethereum be the smart contract blockchain of choice, but that feels like it officially changed this weekend. Solana did $30 billion in volume on Saturday, which is now 10% of Nasdaq’s daily volume.
Seventh, many people are excited about meme coins now that the President has launched one, but there is a strong argument that this launch will mark the top of the meme coin excitement. Who has a bigger brand than Donald Trump and the US President? I can’t think of one. This doesn’t mean the meme coins will go down from here, but it feels like Trump’s launch may signal something noteworthy about the market too.
Eighth, this coin launch seems to signal a different era for regulatory treatment of crypto. It is hard for regulators to go after market participants in the same way they have for the last four years if the President is launching meme coins. I don’t know how or where these changes will show up on a daily basis, but the shift feels obvious.
Lastly, I expect the next 4 years to be filled with uncertainty and increased volatility. Sometimes that volatility will be strategic and other times it will come as a second-order effect of the President’s style. We know Trump measures the success of the US economy by the stock market, and increasingly by the bitcoin price, so I anticipate both assets will continue to appreciate throughout the administration’s reign of power. The meme coin launch is just the introductory reminder to the fun, excitement, uncertainty, chaos, and challenges that exist with Trump driving the nation.
I am incredibly optimistic about the future of America. It was inspiring to see so many smart, influential tech leaders at the inauguration yesterday. There are significant obstacles facing the country right now, but the American people sent Donald Trump to the White House with a mandate to close the border, cut government spending, bring down inflation, make housing affordable, re-establish law & order, create a Strategic Bitcoin Reserve, refrain from entering any new wars, and ensure the future is brighter than the past for all the citizens.
Regardless of how you voted, we should all hope our leadership has the strength and courage to make the right decisions to fulfill this mandate.
Best of luck to the hard-working men and women of the administration who begin work to successfully accomplish their mission for the next 4 years.
God Bless the United States of America.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
Also, looks like $TRUMP is now available on the COIN retail platform. That was quick! :)
Very long but a good presentation of the facts/opinions about the coin launch and its implicatoins.
My Thoughts On The TRUMP Token Launch
To investors,
Bitcoin hit a new all-time high of $109,000 yesterday morning. The fact this new record occurred on the same day that President Trump was sworn into office, while Wall Street’s market was closed, is about as poetic as it gets.
But this wasn’t the big story of the weekend.
The talk of the last few days was the $TRUMP meme coin launched by President Trump and his team. The coin was announced just hours after SEC Chairman Gary Gensler walked out of his office Friday night for the last time.
Within hours, the TRUMP token reached a $10+ billion market cap. The all-time high for the market cap eventually hit more than $70 billion. Given that President Trump and his team own approximately 80% of the supply, this means they had over $55 billion of value to their name.
It is important to explain that Trump’s allocation of the supply was not liquid. The token structure has a 3-year vesting schedule and there are no team sales available for at least the first 3 months.
Many people will be confused how Trump’s meme coin could reach a $70 billion market cap, but you have to remember that Trump’s DJT stock is currently trading at more than $6.5 billion valuation on about $4 million of annual revenue.
Traditional stock market investors should be careful throwing rocks in a glass house when criticizing crypto’s lack of fundamentals.
So many of you are probably wondering — what does Anthony think about the TRUMP token launch?
The answer is quite complicated.
First, the economic incentive for a large brand or celebrity to do this is obvious. There are not many people who would turn down the opportunity to capture billions of dollars in value.
Second, the structure and launch of the TRUMP token suggests that professionals were involved. This wasn’t a pump-and-dump meme coin, but rather a coin that was launched with multi-year vesting and the tools used increased the odds of the team not being able to exploit the early excitement.
Third, there are plenty of people who will criticize the President of the United States for launching a meme coin as he takes office. There are plenty of politicians like Nancy Pelosi who appear to have a significant advantage when trading with inside information, but we have never seen something like what we saw this weekend. There will be questions related to ethics and conflicts of interest.
Fourth, I have not been a big fan of meme coins in the past and I did not buy the TRUMP token. I understand why so many people did. I think it is important that these people have their right to buy the token protected. But it just isn’t for me. I have a different investment strategy.
Fifth, people are trying to judge the success or failure of this project after 72 hours. That is a great way to ensure your analysis is wrong. Instead, there are big questions that we need answered—what will the price performance be 2 years from now? Will the token be a true meme coin or will the Trump team incorporate utility into the coin? What will the Trump team do with the potential profits? I don’t have answers to these questions but that information will make the analysis much easier.
Sixth, Trump decided to launch the TRUMP token on the Solana blockchain. This may signal the changing of the guard between smart contract platforms. The last few bull markets have seen Ethereum be the smart contract blockchain of choice, but that feels like it officially changed this weekend. Solana did $30 billion in volume on Saturday, which is now 10% of Nasdaq’s daily volume.
Seventh, many people are excited about meme coins now that the President has launched one, but there is a strong argument that this launch will mark the top of the meme coin excitement. Who has a bigger brand than Donald Trump and the US President? I can’t think of one. This doesn’t mean the meme coins will go down from here, but it feels like Trump’s launch may signal something noteworthy about the market too.
Eighth, this coin launch seems to signal a different era for regulatory treatment of crypto. It is hard for regulators to go after market participants in the same way they have for the last four years if the President is launching meme coins. I don’t know how or where these changes will show up on a daily basis, but the shift feels obvious.
Lastly, I expect the next 4 years to be filled with uncertainty and increased volatility. Sometimes that volatility will be strategic and other times it will come as a second-order effect of the President’s style. We know Trump measures the success of the US economy by the stock market, and increasingly by the bitcoin price, so I anticipate both assets will continue to appreciate throughout the administration’s reign of power. The meme coin launch is just the introductory reminder to the fun, excitement, uncertainty, chaos, and challenges that exist with Trump driving the nation.
I am incredibly optimistic about the future of America. It was inspiring to see so many smart, influential tech leaders at the inauguration yesterday. There are significant obstacles facing the country right now, but the American people sent Donald Trump to the White House with a mandate to close the border, cut government spending, bring down inflation, make housing affordable, re-establish law & order, create a Strategic Bitcoin Reserve, refrain from entering any new wars, and ensure the future is brighter than the past for all the citizens.
Regardless of how you voted, we should all hope our leadership has the strength and courage to make the right decisions to fulfill this mandate.
Best of luck to the hard-working men and women of the administration who begin work to successfully accomplish their mission for the next 4 years.
God Bless the United States of America.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
So... Trump and his team's own 80% of this meme coin. Is the 3 year vesting schedule and no trades for 3 months legally binding? Can he just turn around and sell all of his coins in the same fashion as that Hawk Tuah girl? Now that would be the ultimate grift.
Locked in a smart contract so they can't be unlocked and sold. Similar to the false stories about the Trump launch. Hawk Tuah didn't rug/sell either, she got scammed by those who launched the coin for her and has now gone into hiding and hurt her "brand." There's the risk you run playing these kinds of games. "Play stupid games, win stupid prizes" I believe is the saying.
Nobody, once on the blockchain I believe they are irreversible. However, I will defer to Chris on the final word. :)
