Yep, stupidity and greed in exchange for reputational damage when it inevitably crashes. Other shitcoins with 100 billion token supply are tron and xrp. Both kinda have at least temporary usage but are still way overvalued. They trade at 0.24 and 3.18. trump memecoin will dump very hard and lots of people will loose money.

Sadly his "Bitcoin advisors" were unable to teach him about scams and shitcoins, even worse, they endorse it and help him set the scam up.

With this precedence we can expect a flood of memecoins which only goal is to pump and dump. Thats why it is important to not allow those shitcoin, nft and other nonsense legitimize on Bitcoin. They will mud the water and prevent Bitcoin stick out in bright orange.

That said, if it was not for those stupid and greedy moves and I still think his cleanup of the deepstate is important.

Proper, friendly regulation will speed things up but if it includes shitcoins it will also keep the distortion up for longer. If there would be a more hostile environment like it was or even worse it might would have forced us to build out more p2p services. Would certainly be slower but imho more like Bitcoin was intended to be used by building a parallel system.