The Trump Effect, A Warning For Crypto Newbies

[Ndabagi01]

Donald Trump Jr have just announced that he is going to launch his own DeFi crypto platform, his aim is for it to serve as competitor to the banks. This is coming in his Father’s bid for the presidential seat and also looking at making bitcoin a more viable option in finance in the USA.

Newbies and Trump lovers should be aware of such platforms because it’ll only attract users to them because of their influence and not for what bitcoin and cryptocurrency should be known for. Privacy and security are very important in cryptocurrency, if the party in question is not providing all of that, don’t allow their influence or persuasive words to fall for their innovations.

There was TrumpCoin (DJT) before now wish have failed in the past. There’s no two ways about it, don’t leave your coins in this platforms when they come to live. Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you.

Source: https://cointelegraph.com/news/donald-trump-jr-launching-crypto-platform-take-on-banks

[Cantsay]

I thought I replied to this type of thread today (not in this board though) - it was still talking about Trump’s son making an announcement on X relating to crypto.

Take a look at the thread^[1] - if you feel this is different you can leave it but if it’s the same as the other one you can lock this one and continue the discussion over there.

[1] https://bitcointalk.org/index.php?topic=5505576.msg64406247#msg64406247

[bitmover]

Newbies and Trump lovers should be aware of such platforms because it’ll only attract users to them because of their influence and not for what bitcoin and cryptocurrency should be known for.

I don`t think so.
Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful. Long before he was the president. He knows who to make a business work, and this is not because of his influence.

Privacy and security are very important in cryptocurrency, if the party in question is not providing all of that, don’t allow their influence or persuasive words to fall for their innovations.

We don`t know if it will lack privacy, certainly wont lack security.

There was TrumpCoin (DJT) before now wish have failed in the past. There’s no two ways about it, don’t leave your coins in this platforms when they come to live. Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you.

This wasn't created by Trump.

[Zaguru12]

Take a look at the thread^[1] - if you feel this is different you can leave it but if it’s the same as the other one you can lock this one and continue the discussion over there.

The two might look related but it is not the Same content, Trump jnr is announcing a lunch of a crypto platform and OP is warning members of it which isn’t the same as the other thread at least that’s what I think.

I don`t think so.
Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful. Long before he was the president. He knows who to make a business work, and this is not because of his influence.

This isn’t about him rather about his son so in my perspective it doesn’t carry same faith as Trump Snr. And even if it is trump Snr I wouldn’t still get carried away because this is a different kind of business which is more like entrusting one’s finances to them, the risk still remains no matter who is involved.

There was TrumpCoin (DJT) before now wish have failed in the past. There’s no two ways about it, don’t leave your coins in this platforms when they come to live. Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you.

This wasn't created by Trump.
[/quote]

Yeah it is just some crypto devs creating shit tokens, there is more than 5 of his memecoins going round just like for top celebrities too. We keep warning people mostly newbies to stay away from tokens like this. I am sure even Trump doesn’t know of some of this shitcoins

[Coyster]

Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful.

Some of his businesses have also filed for bankruptcy more than once, so he also knows how to run a business down as well, lol.

I don't know why this is making headlines, Trump Jr said he wants to create a DeFi crypto platform to "take on the bank", it sounds like a buzz-phrase to me and i would not pay much attention to it right now. He said it is still a long way from now before we see this, so there is really nothing to discuss about the project right now, no roadmap, no details, it might not even come to fruition.

[Viscore]

Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful.

Some of his businesses have also filed for bankruptcy more than once, so he also knows how to run a business down as well, lol.

I don't know why this is making headlines, Trump Jr said he wants to create a DeFi crypto platform to "take on the bank", it sounds like a buzz-phrase to me and i would not pay much attention to it right now. He said it is still a long way from now before we see this, so there is really nothing to discuss about the project right now, no roadmap, no details, it might not even come to fruition.

I can sense that everything that comes out from his mouth this time are just to boost his father's presidential position and that people will think that they will have a lot to look forward for Trump as well as with Trump Jr. So it's more on a kind of deceiving the people for me.

However, the said platform is still very early to create a conclusion, it may take quite some time before it will be realized, or may end up the other way around.

[aioc]

Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you.

Especially during the ongoing campaign fever, Trump is all out to gain the support of the Bitcoin community. They have done their research, and winning their support will convert to votes.

I have Trump winning against Biden, but now that Kamala is in the picture, Trump must triple the effort; I'm still waiting for Kamala's stance on Cryptocurrency. If she supports Bitcoin, the Bitcoin community will be divided, and Trump will lose all his previous gains.

[Pandorak]

[...] There was TrumpCoin (DJT) before now wish have failed in the past. There’s no two ways about it, don’t leave your coins in this platforms when they come to live. Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you. [...]

Excuse me, is Trumpcoin officially owned by DJT?

Buying crypto because of the influence of politicians or artists is wrong, because crypto adopters should understand a lot about what they are buying, not who gave them the influence to buy. However, providing false information is also wrong, as far as i know JDT has never launched any token project, i have only heard about his NFTs.

[Wiwo]

Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful.

Some of his businesses have also filed for bankruptcy more than once, so he also knows how to run a business down as well, lol.

I don't know why this is making headlines, Trump Jr said he wants to create a DeFi crypto platform to "take on the bank", it sounds like a buzz-phrase to me and i would not pay much attention to it right now. He said it is still a long way from now before we see this, so there is really nothing to discuss about the project right now, no roadmap, no details, it might not even come to fruition.

One of the major killer of most cryptocurrencies start up is the fact that, their want to replace one existing service or platform instead focusing on providing an alternative to those existing project that their want to replace.

And because many of such projects that focus on replacing instead providing alternative have died a cool death, so anytime such phrase as replace is use I give them a cool head.

[Belarge]

Excuse me, is Trumpcoin officially owned by DJT?

Buying crypto because of the influence of politicians or artists is wrong, because crypto adopters should understand a lot about what they are buying, not who gave them the influence to buy. However, providing false information is also wrong, as far as i know JDT has never launched any token project, i have only heard about his NFTs.

Non-Fungible Tokens are the basic investment for these whales and its been nothing but a good stand for everyone that have postive mindset. There's certainly one thing we should know about the space, it's been controlled by the top influential men in the world and its very commonly possible to either sit at the edge of losses or using opportunities to bag more profits for ourselves.

[nakamura12]

Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful.

Some of his businesses have also filed for bankruptcy more than once, so he also knows how to run a business down as well, lol.

I don't know why this is making headlines, Trump Jr said he wants to create a DeFi crypto platform to "take on the bank", it sounds like a buzz-phrase to me and i would not pay much attention to it right now. He said it is still a long way from now before we see this, so there is really nothing to discuss about the project right now, no roadmap, no details, it might not even come to fruition.

That's why it is part of being a businessman. We all can say that he has a lot of experience in running a business from his failures and successes. As for the project, I would do the same as you about not giving much attention because of it is just an announcement as of this time unless he shows us like the roadmap and other details about the project.

[KingsDen]

Re: The Trump Effect, A Warning For Crypto Newbies

You cannot successfully separate influence and hype in cryptocurrency. This industry is about numbers. We had had the Elons effect during 2021 bull run and this time around could be for trump. Guess what!
If Elon makes a post about dodge now, people will still rush to doge. So, let's manage the industry and its nature.

[adultcrypto]

Donald Trump Jr have just announced that he is going to launch his own DeFi crypto platform, his aim is for it to serve as competitor to the banks. This is coming in his Father’s bid for the presidential seat and also looking at making bitcoin a more viable option in finance in the USA.

Glad you made this post as a strong warning because that is exactly what it is. If perhaps Donald Trump wins and his son decide to go ahead with this project, it will become one of the biggest pump and dump the world have ever known because there are big whales to will easily join to manipulate the market to their advantage. They don't care about Donald Trump neither do they care about the crypto market, it is all about making profit for them. It is important people stop looking at these memecoins and concentrate more on Bitcoin because that is the way. Those that must follow memecoin must do that carefully, understanding the risk involved.

[bitmover]

Trump is a very successful entrepreneur, he has done a lot of good businesses that have been a successful.

Some of his businesses have also filed for bankruptcy more than once, so he also knows how to run a business down as well, lol.

I don't know why this is making headlines, Trump Jr said he wants to create a DeFi crypto platform to "take on the bank", it sounds like a buzz-phrase to me and i would not pay much attention to it right now. He said it is still a long way from now before we see this, so there is really nothing to discuss about the project right now, no roadmap, no details, it might not even come to fruition.

That's why it is part of being a businessman. We all can say that he has a lot of experience in running a business from his failures and successes. As for the project, I would do the same as you about not giving much attention because of it is just an announcement as of this time unless he shows us like the roadmap and other details about the project.

This is very true.

Businessmen have successes and failures. What is important is to overcome failures , what he did.

It is not a shame to have a failed business and try again

[Rustam Meraj]

I do not trust Donald Trump Jr. plan to start cryptocurrency platform. His father is running for president and I think platform will care more about politics than keeping users information safe. Remember when TrumpCoin failed? I think this new idea will fail too. I agree that people should be careful and not trust someone just because they are famous or have political power. We can see many articles on celebrities who scammed after a particular hype. Cryptocurrency is supposed to be private secure and independent. If Trump Jr. platform doesn't follow these rules it is not worth using. We should always protect our money and should not trust someone just because of who they are.

[tabas]

It's going to be a fad, anything that rides off from someone's fame isn't going to last that long. DJT JR. should focus on helping this dad in whichever cause he can do and not with this kind of advocacy of beating the banks or competing against them. I guess that he's probably aware that there are some of these banks that are on their side, his dad's side, and yet he wants to be against them through this defi crypto platform that he's planning. We don't totally know them but he needs to take a look at that plan of his because we've seen a lot of defi platforms failed.

[Crypt0Gore]

Donald Trump Jr have just announced that he is going to launch his own DeFi crypto platform, his aim is for it to serve as competitor to the banks. This is coming in his Father’s bid for the presidential seat and also looking at making bitcoin a more viable option in finance in the USA.

Newbies and Trump lovers should be aware of such platforms because it’ll only attract users to them because of their influence and not for what bitcoin and cryptocurrency should be known for. Privacy and security are very important in cryptocurrency, if the party in question is not providing all of that, don’t allow their influence or persuasive words to fall for their innovations.

There was TrumpCoin (DJT) before now wish have failed in the past. There’s no two ways about it, don’t leave your coins in this platforms when they come to live. Your coin is not worth risking for a politician, they’ll always serve their interests first before looking out for you.

Source: https://cointelegraph.com/news/donald-trump-jr-launching-crypto-platform-take-on-banks

Calm down, DeFI is DeFI, nothing more or less, there are many DeFi projects in crypto space today and it changes nothing, it is a matter of choice from users to use the platform or not, Decentralised Finance platforms are different from Bitcoin, so this won't replace Bitcoin, as for the popular figure that Trump Jr is it doesn't matter, there are many people that considered Binance because of CZ, its going to be a struggle, if this platform from Trump Jr fumbles it will ruin their rep that's all I can say.

This idea could work on the long run but I do hope that it won't end up like Binance and CZ, we all know that DeFi projects are not real DeFI behind the closed doors, there is always something that can be done or changed.

Business either fail or become success, you won't know until you give your best shot, if you are to risk money on any investments make sure its the type you are willing to lose.

[Solosanz]

Privacy and security are very important in cryptocurrency

I don't think so, money/profit is the most important.

That's why most people hold their coins in centralized exchanges because they can earn some % APY by staking their coins rather than holding in non custodial wallet that you have no way to earn and it will cost you more money due to paying fees.

I would say newbie better to stay away against all these fake Trump coins.

[Alpha Marine]

Topics about this Trump and bitcoin have been circulating since the bitcoin conference and I still struggle to understand why people fall for it. The fact that a man like him said some positive things about Bitcoin at a Bitcoin conference shouldn't be news. He won't go there to say negative things about Bitcoin to his potential voters, he has to say things that will please them.

I saw the tweet on the day his son made the post and I just laughed it off. I just feel sorry for the people that fall for such things. It's the same as the people who fall for those celebrity tokens. They're always rugpulled. Everybody wants to seize the opportunity and make money for themselves.
This might just turn out to be another Sam Bankman-Fried

The tweet didn't actually say he was going to make a defi project but he said they're about to attain something HUGE then he proceeded to say "Decentralised Finance is the future, don't get left behind". All these can be a scheme to get more crypto voters to his father's side just as his father did in the Bitcoin conference.

[Doan9269]

Donald Trump Jr have just announced that he is going to launch his own DeFi crypto platform, his aim is for it to serve as competitor to the banks. This is coming in his Father’s bid for the presidential seat and also looking at making bitcoin a more viable option in finance in the USA.

politicians with fake promises, he can as well start all these now, they don't have to wait till they reach there because some of their agenda may not really work in line with the expectation of the people, this is not what we are seeing for the first time with the likes of them, some things were easier said than done, once they emerged office, then comes in another story entirely.