Subnostr

It's a bit weird and funny to see John Oliver worry about World Liberty Financial (starts at about 11 minutes). As far as Trumps self enrichment scams go, this one seems minor and insignificant to me. It's vaporware, run by clowns and barely raised any money.

He's worried that Trump might pass legislation that would unfairly favor this project, but I don't see how that could rescue this nonsense token. Even if he made it legal tender, banned Bitcoin and the US dollar itself I doubt it would go anywhere.

So this seems to be a case of his staff writers not knowing even the slightest thing about cryptocurrency and its long history of failed scams, by the standards of which this is simply a non issue.

https://youtu.be/pz3I81dVpTQ

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Discussion

TBH 1y ago

They are both bad, but it’s hilarious that some people only see half of the problem.

Sjors Provoost 1y ago

IIUC all of Congress, Democrat and Republican, has a carte blanche on front running stocks based on private information. Imo that should be criminalized.

The Trump NFT and crypto project are quite different imo, they are just scams based on his celebrity status. More similar to Bill Clinton speaking fees.

Where things get more serious is when foreign nationals pump the stock of Truth Social of one his hotels. This was covered in the first half of the item. But that's not crypto related, so I didn't bring it up here.

TBH 1y ago

Good point. His office says “probably a scam” on the front door. Theirs say “nothing to see here” while inside is actually this.

https://m.primal.net/MAHA.mov

McCoy 1y ago

💯 The criticism should be centered around the wasted resources and energy to support their shitcoin rather than working on fiscal discipline in the US, including a rational bitcoin framework.

It’s also a signal that “team Trump” doesn’t get it

Sjors Provoost 1y ago

Not sure about the latter. I think there are two Team Trumps:

1. Team Trump personal grifts: such as this crypto projects

2. Team Trump "serious" government stuff

There's overlap of course, e.g. in the form of nepotism, but he does have higher caliber folks in (2). Though that team will have to keep Musk at a distance to achieve anything sane in crypto land.

Sjors Provoost 1y ago

As for fiscal discipline: lack of that is a bipartisan talent.