President Trump YOLOs a Shitcoin on the Eve of Inauguration
https://www.nobsbitcoin.com/president-trump-yolos-a-shitcoin-on-the-eve-of-inauguration/
Discussion
For me it's a memecoin. Is a memecoin a shitcoin? Discussable. Were there any promisses behind, what the coin can do for us? No. It's just a jpeg. So it's a collection like a postal stamp. Supply was clear. Demand? You never know. Do I buy such things? Never! (BTC only) As I would never buy a MAGA shirt.
Bitcoin is also for your enemy.
Memecoins are for fans, gamblers, Degens or even morons. Trump maybe earned already 500 Million on it. But did he cheated someone? No. Maybe I'm wrong. But I don't have any problem with it. It's a free market and everybody can spend his money on what he wants as long the seller didn't lie about his product.
To me it's a question of honor, integrity and morals. You can easily make money off morons. Many do. I would not want the president of my country doing it though since it says a lot about his lack of character. Which could have huge consequences if lots of people view him as a role model.
That being said. Trump never made an effort to hide his lack of character I suppose.
I understand what you mean. But what are the buyers of his MAGA shirts, hats, flags and all the the other merchandise? Morons? He made a lot of money with it too. Is it immoral? Just because it's a digital jpeg and not a analog MAGA shirt? My friend bought the coin and told me, for him it's kind of a donor to Trump.
Makes sense. It doesn't seem to be as black and white as I first thought.
Perhaps the difference stems from the fact that with a T-shirt or hat, everybody knows what they get. With meme coins there's always gonna be a percentage of morons that don't know what they buy and get rekt. Same with dogecoin and Elon back in the day.