Trump's freshly minted meme coin passes $10B market cap Donald Trump, US president again by the time many of you read this, launched his own cryptocurrency – $TRUMP – on the Solana blockchain network on Friday night. By the weekend, it had hit a market cap of nearly $15 billion, although by Sunday, that value dropped when Melania Trump launched her own meme coin. bitcoin …
It depends on what you mean by successful. He seems to have done well out of it personally which would be his only KPI. The fact that it might have left a number of others distinctly worse off would be irrelevant to him.
Personally I think it's agreat thing to happen - but then I think Darwinism is a Good Thing. Maybe when the dust settles there'll be an awareness in the US that maybe they do have to have more qualifications for POTUS than simply being a native born US citizen. Simple things like not being a convicted felon or not having presided over too many bankruptcies. It might be a good thing to have, as SOP, a special prosecutor appointed from the day of the election result being announced who has power to collect evidence as things go along, freedom from interference and the duty of launching prosecutions, if justified, as soon as the term of office ends. Same applies to the UK PM and any other head of government.
@Doctor Syntax
"Simple things like not being a convicted felon"
But as seen here the system would be gamed. Nobody can take seriously the 'felonies' against Trump and the desperation to call him felon but has no consequence.
"or not having presided over too many bankruptcies."
Yet for all the bankruptcies he is also damn wealthy. Some could look at it as the trial and error of actually having to run something. Compare that with politics for life which has no connection to real life.
"It might be a good thing to have, as SOP, a special prosecutor appointed from the day of the election result being announced who has power to collect evidence as things go along, freedom from interference and the duty of launching prosecutions, if justified, as soon as the term of office ends."
That could be good if actually free of political pressure. Imagine 2020 actually being investigated, the brazen illegalities of some of the further elections probably wouldnt have happened.
@jospanner
"Why is felonies in quotes."
Because of the bit of text just to the left if it- "Nobody can take seriously the".
"It is a matter of fact that he is a convicted felon."
Hence the point of my comment. If felons were banned from office then as we have seen (god just read the comment) the system would be games with such felonies. All of which are likely to vanish on appeal.
"It is a matter of fact that he is a convicted felon."
yes, convicted of felonies that are felony enhancements to other crimes for which he wasn't tried. It was a tall pile of technicalities on both sides and after an attorney friend of mine showed me how twisted it was, I forget how it twisted by the next day. I expect that if Mr Trump didn't win the election, there would be four more years of court arguments and millions of taxpayer dollars spent.
BTW, if you are in the US, you are likely a felon as well. The laws are such that everybody is a criminal looked at a certain way. We don't all wind up on trial since there's a thin veneer of common sense still left in the world that a jury might take notice of so it's more important to go after the real criminals. Politics is a special case and increasingly one side is using "the law" to snipe at their opponents when words and logic aren't getting the job done. The more technical and obscure the law being used is, the better.
“ It amuses me that he is a terrible failure through bankruptcies and at the same time this evil rich man.”.
Basically he used bankruptcies to socialize his failures and default on his debtors. Easy to do once you (or your dad) is past the mere multi-millionaire mark, bankers, lawyers and finance bro’s will help you (for a commission) of course. Debtors are out of luck since the US legal system is basically about richest man wins.
Rich he may be, evil : definitely. Then again, you don’t get to a seat of power without being a self-centered psychopath with a lack of empathy for anyone but yourself. He just sucks at hiding it, most CEO’s and politicians are usually better at hiding that part of their personality.
Is he actually wealthy though? Because the (circumstantial) evidence is, that what he told the IRS anyway, is that his liabilities exceed his assets, and that’s why he doesn’t have to pay any tax…..
We also know, from the publically accidentally revealed info relating to the Deutsche bank loans, that the valuations he puts on his property (which he used as collateral) are bonkers misrepresentations. He lists Trump Towers alone as worth over $1bn, while independent valuations have it done as more like $300M. So, if he’s got a $500M mortgage on a$300M property, in what sense is he wealthy?
His assets *may* be positive, and probably are. But they may also be negative - nobody knows, least of all him, because he is delusional. But one thing we do know with high certainty, he is not a billionaire. *At most* he has about $300-700M.
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"Nobody can take seriously the 'felonies' against Trump and the desperation to call him felon but has no consequence."
Being convicted of a felony makes one a felon by definition. And making not being one for purposes of holding a particular post makes it necessary to take it seriously and has consequences. I suppose there might be some provision for convictions to be eventually written out of the record as there are when considering the record for some jobs although for positions of such significance perhaps candidate should be held to higher standards.
@Doctor Syntax
"Being convicted of a felony makes one a felon by definition."
And that is why it wouldnt work to ban a felon from office because as we have seen in this case Trump can be labelled a felon, without a crime, for a misdemeanour prosecuted outside the statute of limitations. This way any political opponent can be labelled a felon.
And of course it is going to be appealed which is likely to remove the conviction due to the lack of crime, banning of federal witnesses for the defence, statute of limitations of the misdemeanour and of course it was nothing more than law-fare to stain his name and influence the election.
"makes it necessary to take it seriously and has consequences"
Lack of consequences. He is President and after all the expensive show trials to try and 'get him' the best they have is calling him a felon until the appeal likely removes even that.
"considering the record for some jobs although for positions of such significance perhaps candidate should be held to higher standards."
If there were standards the mentally incapable Biden wouldnt have got the job. And the coverup has gone on for years. It was so bad Joe wasnt impeached for severely mishandling classified documents from when he shouldnt have had them
"Nobody can take seriously the 'felonies' against Trump"
Except the courts. And the legal system. And the people who respect same. Once upon a time that used to include the Republican party, who fancied themselves the "Law and Order" party. Apparently that all goes out the window when you have the chance to establish a theocracy.
Let's not forget he was also convicted of sexual assault. Yeah, that's a shining example for your kids to look up to.
@LBJsPNS
"Except the courts. And the legal system. And the people who respect same."
Are you sure? The abuse of law has upset a lot of people and the disrespect shown in the lawfare is transparent.
"Let's not forget he was also convicted of sexual assault."
A civil case because there is no way with the unreliable witness and lack of any evidence that it could make a criminal case. The story being dubious.
If we're talking facts, it's these:
Trump was proven to have committed the crime of falsification of business records around hush payments to Stormy Daniels, on the evidence of: (i) the testimony and contemporaneous hand-written records of one of his executives; and (ii) the testimony of the person who physically received and provided false invoices for the funds before passing them onwards.
This was elevated to a felony — US speak for a really serious crime rather than a regular one — based on the argument that the intent behind the crime was to influence the outcome of the 2016 election; performing any crime to influence an election is a felony.
If we're talking opinions, here's mine: I can't imagine that anybody seriously thinks Trump didn't do this. Though opinions clearly vary as to whether he's an antihero or a villain.
@ThomH
Thanks for your reasoned post.
"Trump was proven to have committed the crime of falsification of business records around hush payments to Stormy Daniels"
Wasnt this the Bragg case that was beyond that statute of limitations for a misdemeanor. Within the statute of limitations Bragg and co decided against taking this to court for how poor the case was. This could only be brought to trial IF related to a crime, which Trump has not been charged with nor has one been defined by the prosecution. The unreliable lead witness Cohen who did admit to the crime of stealing from Trump. Also if I understood it correctly Trump didnt tell the accountant what to put the payment under, it was done at the discretion of the accountant who marked the payment as he believed to be correct (I believe he even testified this in person on the stand).
There also seemed to be a difficulty in deciding if this was a state or federal crime. I seem to remember federal witnesses not being called because it wasnt to be a federal crime, only for Bragg to keep changing his position just to keep the trial going.
"This was elevated to a felony"
To which there is a felon without a crime. A felony resulting in no punishment. And the whole case is so weak it will probably be destroyed in an appeal. The case itself being to influence the election. The result being the tiniest success for the law-fare fools. At best they get to call Trump a felon, for now.
"If we're talking opinions, here's mine: I can't imagine that anybody seriously thinks Trump didn't do this. Though opinions clearly vary as to whether he's an antihero or a villain."
Sure why not. I dont actually care particularly. The problem is the severe effort put into election interference to try and stop a presidential candidate. Didnt we used to laugh at Russia for things like this?
Unfortunately if you dont agree with every lie or exaggeration then some people just assume you are some sort of MAGA Trump worshipper. The anti-Trumpers cannot consider anything less extremist than them without labelling them MAGA cultists
@ChodeMonkey
"But this doesn't apply if using the "label" TDS, is that right?"
The perfect description of the very people I mention. Those extremists on the absolute opposite to MAGA extremist. The anti-Trumper whose view is you must hate the guy irrationally or be a MAGA cultist. Very much TDS.
"That's real. That is the most real, authentic, scientifically proven thing in political life."
https://www.youtube.com/watch?v=A1IrRxoRkbQ
It seems a little naive to me to think the US will have another presidential election, or at least what would qualify as a meaningfully fair one.
People in the US know that Trump is an insurrectionist, and the coup last time failed only because of a few principled republicans (state governors and the VP) who did not go along with it. Such dissent has been purged, MAGA is in total control now.
Trump is a big admirer of Putin, Orban and Erdogan, all autocrats that came to power democratically and then gradually destroyed the democracy to stay in power. He will not make the same mistake he made last time of failing to prepare for losing, he and his gang will attack independent news and broadcasters, while Musk and Zuckerberg pump out propaganda so there is no meaningful opposition. And in the event even this does not guarantee a win in the next election, they will ensure that control of the courts, and the US president's immunity, will be used to do *whatever it takes* to stay in power.
The only hope for the US is that some states decide to leave. I know they are not allowed and that could lead to civil war, but the alternative is to meekly accept dictatorship and see those states have their own power crushed. Because dissent cannot be tolerated.
As for the rest of the world, democracies need to circle the wagons, because the US billionaires are coming for every other democracy next.
"It seems a little naive to me to think the US will have another presidential election" – indeed, it's a pity that not even the USA as the longest-standing democracy in the world has effective measures against hitleresque seizures of power.
Meanwhile, on the other side of the pond, in Germany, the young democracy of which the Germans are so proud is in danger of being torn apart by a new neo-fascist party (officially classified as right-wing extremist in large parts by domestic intelligence), against which they also have no effective measures even after their early 20th century experience. How difficult can it be to make fascist endeavours a punishable offense along the lines of high treason? What the German established political parties are now doing instead is adopting some neo-fascist policies themselves in a pathetic attempt to draw voters from them.
"It depends on what you mean by successful. He seems to have done well out of it personally which would be his only KPI. The fact that it might have left a number of others distinctly worse off would be irrelevant to him."
But that is exactly how he defines a "good deal". Him "winning" in a deal isn't enough. Everyone else has to shown to "lose" before his ego can be salved. A deal where everyone wins is not a good deal in his eyes because he's a sociopath.
There are times (and this is one) when I wish I had absolutely no sense of shame or caution. I could probably become quite wealthy..but perhaps not quite wealthy enough to escape the consequences.
As bad as "he" and his merry band of grifting, self-absorbed, religious fanatic idiots are, the inability of even *one* news organisation to stand up and call them out for what they are is what disappoints me the most. The Press is often referred to as the Fourth Estate, but it appears to have been absorbed into the Corporate world, never to return to its former role of referee in the political arena.
" The Press is often referred to as the Fourth Estate, but it appears to have been absorbed into the Corporate world, never to return to its former role of referee in the political arena."
There's no such thing as The Press(TM) anymore: The Big Money(TM) bought all of it and reduced it to ass-licking propaganda distribution media.
Here in North 2 corporations own all newspapers and all tv-channels except the ones owned by government. It owns 3 TV-channels and their propaganda is almost as bad as the one corporations spew.
AFAIK situation is US isn't significantly different: Money(TM) owns the media. All of it. Also major part of social media.
Money(TM) owns the government too and what we have here is a full-fledged corporativism. Basically feudalism with a democracy -type curtain to hide it.
When everyone elected is bought already before actual election, there is and there can't be any democracy.
Honestly, I despair for humanity. There are people out there who can look at this, and not instantly see "SCAM" written in letters large enough to be viewed from space??? I know most of them are just jumping on now, in the hope of riding the big wave, and then selling everything to some other schmuck before it all crashes and burns. But still...
And I might be wrong, but it definitely feels like Melania ist pranking Trump, no? Maybe she's trying to build up her own capital for the inevitable Post-Trump years...
Would the Aliens mind arriving some time soon, before things really hit rock bottom...
Isn't this exactly how most crypto currencies work? Most of those "investing" are complicit and fully on board with the scam. They just reckon they won't be the mugs left holding the worthless bits at the end.
As for the rest of the "investors", well, a fool and his money, as they say.
> Most of those "investing" are complicit and fully on board with the scam.
Given that quiff-boy often reveals how ill-informed and dim-witted he is, could it be that in fact he's the one being scammed?
OTOH he has a track record of successful scam himself, so I think probably not.
What determines the value of something? If people "see" it has value!
A diamond is nothing more than a piece of compressed carbon, but to some it has extreme value, to others not so much! Crypto has value because people "see" it has value for whatever reason. Maybe it is because it it not tied to some corrupt government.
"Crypto has value because people "see" it has value for whatever reason. "
The other side is people can "see" it no longer has "value" and that's the end of that. There's no intrinsic value since it's an intangible. Do my Louis Bellson autographed drumsticks have value? Yes. Even if you don't know who Louis Bellson was, they are still a pair of quality drumsticks. A unit of crypto currency isn't a physical thing nor a piece of useful information so there's nothing but a belief that it's worth anything.
Don't forget Melania.... She who has been a ghost for the last 4 years launched her own Crypto Currency.
It bombed as well yesterday like the Orange Jesus's brand.
All his cabinet will be joining in the GRIFT of the MAGA braindead/cult. Well, all apart from Vivek. He seems to have been given the elbow before Trump V2.0 becomes official.
But swearing in on a 'Made in China, Trump Bible" is really the pits.
> But swearing in on a 'Made in China, Trump Bible" is really the pits.
On the news footage I saw, he didn't appear to rest his hand on the bible at all. Cue conspiracy theories now saying that he's not actually the President as the oath wasn't taken correctly. :-)
These tribulations normally come in threes.
We already had (1) Crypto, now have (2) AI and I dread what the third will be. Certainly isn't that feeble excuse of anything that is to be "the leader of the free world."
The possibles range from daunting to outright horrific.
First its $Trump cypto coin BS, but how long before he decides he wants his face on real money and gets them to start issuing bank notes with his ugly mug on them?
A $1 note would be a good start as that will probably be only worth the same as a sheet of toilet paper after his badly thought out financial policies ramp inflation to 500% within a year or two. So you can then use it to wipe your arse with his face.
"So you can then use it to wipe your arse with his face."
Eww.
Even in the context of the coming civil war/social collapse/invaded by Denmark/zombie apocalypse/all you should have some standards. Shoot the bastards in the back, fair enough. But wipe your arse on a Trump? Eww! Eww! Eww!
(icon, doing double duty as puke)
And not on devising tacky scams designed to enrich himself as much as possible at the expense of his gullible fanbase....... still, start as you mean to continue : if selling his own branded bible wasn't enough of a clue, then nothing was going to really dissuade all the marks who've piled into this crap. Apparently some crypto folks are angry about the blatant grifting going on here - they think it's going to give their own scams a bad reputation and stop the flow of idiot money going in their direction!
He could use this to "declare" himself the richest person in the world. Just make this his preferred method of receiving bribes and he could drive the price up to whatever heights he wants by telling some foreign leader wanting to bribe him for $10 million to buy 10,000 coins at $1000 each and when those trades show up he can claim he's worth $500 billion or whatever and is richer than Elon. Doesn't matter that it isn't real, he's the king of perception over reality so he's quite happy to be the fake richest man in the world.
There's also the nice feature that the people who this scams are his own supporters. I love that the guy who originally campaigned on "I'm so rich I can finance my own campaign, I'll never ask you for a penny" not only has solicited campaign contributions from his supporters for a decade straight he's also selling all kinds of crap like shoes. They deserve to give their hard earned money to the greatest conman in the history of the world. I hope they all put their life savings into Trump's coin, it all goes in his pocket, and they have to live on whatever is left of social security after Trump's bunch is out the door.
It will also go down as the greatest pump and dump in cryptocoin history, and hopefully cause the eventual collapse of the entire thing. Certainly the volatility that we'll see on his coin will make it harder for anyone to push the US to become involved in crypto (other than some CBDC fixed to the dollar which isn't any more inherently risky than how dollars are moved electronically now)
It is also interesting that all the grift this will make frictionless is also preserved in the blockchain for posterity. While he's never going to be held accountable (he'll be dead long before the Supreme Court can be fixed) historians will be able to undercover a lot of his dirty dealings. It will provide research fodder for decades.
Market Cap is bistromath1.
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What are the implications of this on the UK?
The first one that comes to mind is Sir Kier's idea of UK growth through AI.
If Tangerine Man is going to 'Drill baby drill', freeing up gas and oil for burning to make electricity, whilst we are doing the more long term sustainable approach of using renewables (yes, I know someone's going to argue about this), then our power is going to be even more expensive than it already is compare to the US. So who is going to want to put an datacentre here?
Local infrastructure is driven by three things:
Maintainability - you need to get to it to do something to it
Latency - needs to be close for the application to do what it needs to do within the time allowed
Data residency - need to keep the data within the bounds of your jurisdiction
It seems to me that the first is somewhat irrelevant, given the way AI platforms are built. They're homogeneous platforms of compute capacity, so you can happily outtask this to someone else in a remote place.
The second is possibly important, but the sorts of workloads put onto AI at the moment are not that time sensitive, so this is less of a problem.
The third, well, I'm not sure that our rules are tight enough to force people to build here. We don't have a set of rules like China where the data must be recorded in country (but may be copied outside with strong business reason).
What do you think?
Keep doing "sustainable" and you will continue to fail!
Sustainable has proven time and again to be exactly NOT that, sustainable!
While you guys are cold and int he dark, we'll be warm and watching the riots in your country on our televisions, laughing the whole time!
Might as well bring the kids into the frame and grab what you can, It is beyond belief how stupid the public can be buying this nonsense, after so many crypto scams. I watched bitconned a while back and realised there are people out there with no product or anything to show , they can still rake in money for nothing for bullshit.
There was a man (Maxwell Azzarello) who set himself on fire a few years ago, I read his blog on why he did this and wanted to highlight to the world that the US is gearing up for a totalitarian con and about to hits us with a apocalytic fascist world coup.He talked about crypto being first planetary multi-trillion dollar ponzi scheme. Could he right , is it just starting to come to reality now ?
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