Bitcoin Forum

So after Trump pretty famously rug-pulled all his Trump memecoin holders as his first official "day 1" act as the 47th president (surprise!), now people are guilty of saying the usual about crypto - that it's useless, that's it's a scam, waste of energy, etc.

Now whether you like Trump or not, you're still a Bitcoiner, right? So here is where things get interesting.

Over here is one of the many Reddit threads where people are having a meltdown over crypto:

https://old.reddit.com/r/FluentInFinance/comments/1i5oivg/we_failed/

However, this one is different, because it has many comments saying things like: "Bitcoin is the least interesting thing you can do with Block Chain."

Of course whenever someone big uses crypto to scam people, there will always be things like this, but to say something like currency being the least useful thing you can do with blockchain is absurd.

Blockchain is the storage of money and other valuable stuff.

Without currency, there is no blockchain.

Medical records and voting slips aren't valuable and can just be stored in a distributed database. They either have no need for cryptographic verification or are impossible to implement in a decentralized and secure manner (elections, for obvious reasons)

When you see stuff like this after someone does something really bad with crypto, do not let it blind you to its benefits. It's like looking at Tiktok and deciding that all social media is bad, even though you probably wouldn't be reading this topic on this forum today without it.

I would like to add here that there is a difference between whether a coin is interesting and whether it is a useful thing. I even like the narrative that Bitcoin is "boring", meaning that it is stable and does not have too many large oscillations. I would leave the interestingness to meme tokens, in the end, I guess that's their only purpose.

First and foremost I don't really fancy the idea of coining being a bitcoiner to being a trump lover or trump supporter. Similarly it's not true that all trump supporters are bitcoiners. The fact is there are always profit minded schemes  to many big and economic moves made. Take for example the group of people that were initially bitcoiners but came to like the trump movement because of the support that pushed bitcoin to a 100k +.

As we all know meme coins are majorly just a preplanned scheme to generate liquidity for those that are able to take advantage of it. This simply means it's totally safe to say that the whole trump coin hype was totally profit minded.

Actually there are use cases where everything (even value changes) has to be recoded and every record must not be changed ever.
Not as many as some devs would like, but still, they are. For example EU seems to use EBSI (you may want to translate and read that topic for context, shortly, Romanian vote counting was delivered from voting centers via ETH blockchain)




Private blockchains can be interesting even if they don't hold money. Private smart contracts on public blockchains can be even more interesting.
Public blockchains, yes, you're right, need to pay for the PoW hence they need to hold money/block rewards.

Were they new to the system before, this is what we get back as a result of any memetoken or coin that is over rated or hyped by the public, now where do we expect him to get the money to refund back all the loans he has taken for the election if not on something that is this strange, quick and too real to be true, just imagine the way of how it performed within a day, while those investors have already planned to withdraw their money form it after it got publicized and then other people were rushing to invest , they are trying to withdraw and everything turned a rugpull, the same is applicable to his wife coin.

These people saying these types of things are the ones who will be the first to buy the latest memecoin if another one is out. And they know right well the cons of doing so. They are cowards and hypocrites never wanting to take responsibility for their own ignorance and silliness in order for them to not feel guilty for the wrong decisions that they have made that has led them to lose so much money.


You got it. This is the feature of memecoin. Everyone already know this including those who adviced Trump to create one. They made money and that is it. Memecoin can never have any value or compete with bitcoin. I read people writing articles that Trump coin will rival bitcoin. They knew all that was BS but wanted people to visit their website because of the trending topic.

I just visited that link, but the post/thread seems to be deleted so i can't get the full context.


Whoever comment that seems to forget about majority of altcoin/token that have no usage beyond investment and speculation.

seems notatether is looking for clickbait. (trying to find a reddit that idiots respond in) to make a entertaining topic content to then say the only interesting/useful blockchain is bitcoin, thus feeding into the links mindset that majority of crypto(altcoins and other blockchains) are scams
i find it weird for him to say crypto is not scam but then mid post change the motives of post to suggest the only good blockchain is bitcoin.. its funny

however a fair minded person would see that blockchain is not just to be utilised purely for bitcoin as a currency system. but blockchain is its own technology which does have other non-currency utility.

the main point of blockchain is the cooperation of different locations to store data for back up/avoid central control or loss.. and agree their storage of data matches each other in a simple way by asking each other to compare the latest hash to show all data matches rather then sending the whole file to each other per check

once people know the simplistic feature of blockchain, people can and do develop lots of applicable use cases

EG birth, death and marriage records is a good resource of lineage of history, where it doesnt need to edit the past, but instead archive the past and update/append new data as situations change(getting married, divorced, having kids, dying)

https://www.talkimg.com/images/2025/01/22/WsRjl.jpeg

Looking Fancy and interesting Vs Looking simple and old school.

Living speak louder than dead.

40% of $TRUMP buyers were first-time crypto investors (https://www.binance.com/en/square/post/19209464016282), according to r/Cryptocurerncy.

That's 2 out of every 5 buyers not knowing what a token is, how crypto markets work, the blockchain this is running on, or even what a 'memecoin' is.

Let that sink in for a moment.

It should not be surprising then that they were utterly rug-pulled at the end, being that clueless.

---

In other news, we have the fucking government of Cuba launching its own memecoin and then scamming their own buyers. The reverse El Salvador.

https://www.reddit.com/r/CryptoCurrency/comments/1i6i2ax/cuba_country_with_147b_gdp_launched_an_official/

edit:


???

The majority of crypto is a bunch of scams.

Then you have a few dozen other coins that are not scams but have little to no utility.

And then there's about 10 or 20 chains that are actually useful and can be found at the top of CMC.

Every get rich quick scheme must have it's suckers in order to work.
I find this $TRUMP coin not much more sophisticated than the hack some years ago on Twitter when the hacker took over personalities' accounts and wrote "send me bitcoins and I will send you back doubled".

Imho, if a strong known name claims (or even implies/suggest!) it will make people rich, they still fall for it. I guess that while some tragedies do happen, most of the "buyers" just love to gamble/risk a little.

What I'm failing to understand is how Trump actually rugged his fans? The price is still 6x-8x from where the index listed it/picked it up, let alone the 100's of multiples above where it started, which any of those who were paying attention could have also captured? I'm seeing consistently "oh he rugged them he rugged them" - why, because it is not holding at peak price?

In terms of the thread, TBH maybe I'm in different circles, though bitcoin really doesn't have an image problem around my online and offline circles anymore. There's no doubt whether it will stick around and its volatility is understood...maybe that's just because I and others who understand are also in these circles...

Where are you hearing the Trump token price = "crypto is a scam" when it goes down sentiment? Online, offline?