Trump Coin ($WLFI) Can’t Compete with Bitcoin

[Botnake]

This project has been hyped, but just look at how greedy Trump is with it:

1- His family could take home 75% of the net revenue.
2- The remaining 25% will go to Axiom Management Group (AMG), a Puerto Rico LLC owned by the co-founders Chase Herro and Zachary Folkman.
3- The family has no liability if the project fails.
4- According to their “World Liberty Gold Paper,” Trump’s family will receive 22.5 billion $WLFI tokens, currently valued at $337.5 million, based on a 1.5 cents per token price at launch.


And it’s already looking like a failure because they’ve only raised $12.9 million so far, compared to the $300 million they were aiming for.

See how greedy this is? Trump’s family wants 75% of the revenue and zero liability if the coin fails. It’s clear there’s no real commitment, they’re just using their fame to get people to invest and make money off of them.

This is definitely a project to avoid. It’s better to invest in Bitcoin and just HODL.

https://www.cnbc.com/2024/10/17/trump-crypto-project-allows-ex-president-family-to-make-75percent-of-revenue.html

[fruktik]

This project has been hyped, but just look at how greedy Trump is with it:

You have only just learned about Trump's greed. It seems to me that it has been in his blood since birth. This man loves money to the point of horror and is ready to do a lot for it. Therefore, he should under no circumstances become president again. I am sure that nothing good will come of it. Well, this man lacks gray matter in his head. He is a businessman, not a politician. He should not manage such processes, but much simpler ones.

[Fiatless]

Trump Coin ($WLFI) Can’t Compete with Bitcoin

Was the coin developed to compete with Bitcoin? I don't think so. It was a project designed by Axiom Management Group to use Trump's publicity to pump the token and make people invest in it. Profit from the project will be shared among them, and those who invested in the shitcoins will go empty. Even if Trump becomes president it has zero chance of competing with Bitcoin.

[Hewlet]

See how greedy this is? Trump’s family wants 75% of the revenue and zero liability if the coin fails. It’s clear there’s no real commitment, they’re just using their fame to get people to invest and make money off of them.

This is definitely a project to avoid. It’s better to invest in Bitcoin and just HODL.

It's not worth the comparison to even start with. The likes of Etherium and other popular altcoins that are even built on better blockchain and by a team that has better expertise and reputation can't even think of thier project outperforming Bitcoin, is it this one that's only getting its hype because of it affiliation with trump and the Election that's by the corner? This is just part of those schemes that's orchestrated by politicians when they are in need of public conscience from a particular niche who will support them during the election.

Untill there's a reason to think otherwise, this project is politically motivated and can't stand the test of time. No serious investor will want to key into a project that has most of her top share holders that are of the same family. It's a family business and  That alone is enough reason to know that this is nowhere close to Bitcoin.

[bigmanik]

Come on bro
You can't begin to compare it to Bitcoin
Maybe you can compare it to a meme coin but not Bitcoin
They can and will never be on the same level

[FinneysTrueVision]

The project is run by incompetent scammers. Trump agreed to partner with them and let them use his name because he thought it would be easy money. The token itself does not make sense as an investment. There are too many restrictions on who can invest and has no real utility, not to mention the huge allocation set aside for the founders. With the token sale being a flop, most of the revenue will have to come from the financial services they will be offering, but that would require real development effort that I am not sure they are capable of handling.

[Ziskinberg]

The project is run by incompetent scammers. Trump agreed to partner with them and let them use his name because he thought it would be easy money. The token itself does not make sense as an investment. There are too many restrictions on who can invest and has no real utility, not to mention the huge allocation set aside for the founders. With the token sale being a flop, most of the revenue will have to come from the financial services they will be offering, but that would require real development effort that I am not sure they are capable of handling.

It's unacceptable that this crypto project is giving such a huge chunk to one person or family, especially if it's owned by the president (if he wins). In my opinion, the project is just like a crypto bank offering loans, and honestly, this concept has been done before, even back in the ICO days. The only real difference is that it's backed by someone with power, which could give people a false sense of trust and confidence in using the platform.

But it’s still completely different from Bitcoin. Bitcoin is a store of value, whereas this is just another business venture. When it comes to competition, nothing can really compete with Bitcoin. This project will just fall under the "altcoin" category, and we all know Bitcoin is in a league of its own, it's the king and the only one at the top.

[Free Market Capitalist]

Of course it can't compete with Bitcoin, what I hope is that if he finally wins he won't become a shitcoiner as it happened with Musk, but I am not entirely sure about it.

This is definitely a project to avoid. It’s better to invest in Bitcoin and just HODL.

It is better to invest in bitcoin than in any shitcoin. If you are lucky, with a shitcoin it can happen to you as with the lottery, that the return in a couple of years is much higher than that of bitcoin but because the risk of losing value and even go to 0 is propotionally high.

[pooya87]

A 100% useless token aka a shittoken created to carry the name of a "celebrity" is obviously garbage. It only exists and has a price (with 0 value) because of the hype created by the name of that "celebrity" while offering no utility. You shouldn't even use such a garbage in the same sentence as Bitcoin let alone talk about it "competing" with bitcoin!

[Marvell1]

Trump Coin ($WLFI) Can’t Compete with Bitcoin

Was the coin developed to compete with Bitcoin? I don't think so. It was a project designed by Axiom Management Group to use Trump's publicity to pump the token and make people invest in it. Profit from the project will be shared among them, and those who invested in the shitcoins will go empty. Even if Trump becomes president it has zero chance of competing with Bitcoin.

I also never saw him claim that this project was created to compete with bitcoin.

Overall, this is just one of thousands of altcoin projects available on the market. Only time will tell whether it will succeed or fail because not all altcoins fail, there are still many altcoins that are still around and doing well so far.
To be fair, I was a supporter of his in this year's election but I also like it when he is directly involved in developing a project. This sounds silly, ridiculous, and could cost him credibility if the project runs into problems. As a presidential candidate, he should not have done this and it was a really bad move on his part.

[ultrloa]

Trump Coin ($WLFI) Can’t Compete with Bitcoin

Was the coin developed to compete with Bitcoin? I don't think so. It was a project designed by Axiom Management Group to use Trump's publicity to pump the token and make people invest in it. Profit from the project will be shared among them, and those who invested in the shitcoins will go empty. Even if Trump becomes president it has zero chance of competing with Bitcoin.

They usually compare it to bitcoin and say something about it possibly could surpass this coin and create some hype for $WLFI. But if you ask those people how they could able to do it? For sure you could able to read generic answer with no strong basis on those claims.

What's even more clear to me is that $WLFI is just created to take advantage of the hype created by hype in this election. This is huge win for them especially if they could convince lots of people globally to buy this coin.

So hopefully people will not get hype to much and believe that it will surpass bitcoin since its really hard to happen and most provably it will fail their expectation if they really believe that surpassing thing would really happen.

[lovesmayfamilis]

Is this the first project that relies on a famous person? Why are you surprised, OP? There are dozens of such coins, and each time we see one or another popular person standing behind it. I can rather accept this as a fashion trend, like if someone has it, then I will have it too. But yes, of course, to create something even close to Bitcoin, is not enough to be a candidate or even a president.

[passwordnow]

Should be moved to Altcoin Discussion.

This is definitely a project to avoid. It’s better to invest in Bitcoin and just HODL.

I agree.
Just avoid projects like this when they're obvious made through hype. Hold and buy more Bitcoin as this is the time that we're going to see more of it to come. If many invests on these types of projects, let them do what they wanna do with their money but they can't blame anyone rugpulls happen. Whether it is a legitimate backed project by Trump or his companies, still it's all made for the hype that he's in right now because of the US elections.

[Alpha Marine]

Every coin/token that is backed by the name of a celebrity or public figure will most likely crash. It may just pump based on the initial hype but the time will come when those involved in the coin will pack it up and that would mean a rug pull for people who bought the coin. It's always the same thing and this particular token is no different. This might even be worse because looking at it, it means they carry no risks whatsoever. It's like they prepared a fail-safe so they can avoid losses.

Even if Trump wins the election, it won't mean much for the coin. It's just an opportunity people see and use it to make money, but somehow, people still still fall for these corporate scams. The hype won't last forever and when the hype dies down, so will the coin.

[Solosanz]

Every coin/token that is backed by the name of a celebrity or public figure will most likely crash. It may just pump based on the initial hype but the time will come when those involved in the coin will pack it up and that would mean a rug pull for people who bought the coin. It's always the same thing and this particular token is no different. This might even be worse because looking at it, it means they carry no risks whatsoever. It's like they prepared a fail-safe so they can avoid losses.

Even if Trump wins the election, it won't mean much for the coin. It's just an opportunity people see and use it to make money, but somehow, people still still fall for these corporate scams. The hype won't last forever and when the hype dies down, so will the coin.

If Trump wins the election, this coin will pump, that's the way people will make money. Probably everytime Trump mention this coin on his speech or tweet, it would pump the price just like many people that are taking serious when Elon Musk tweets Bitcoin.

But, if Kamala wins the election, then people should expect the coins will crash and really hard to recover.

[o48o]

This project has been hyped, but just look at how greedy Trump is with it:

1- His family could take home 75% of the net revenue.
2- The remaining 25% will go to Axiom Management Group (AMG), a Puerto Rico LLC owned by the co-founders Chase Herro and Zachary Folkman.
3- The family has no liability if the project fails.
4- According to their “World Liberty Gold Paper,” Trump’s family will receive 22.5 billion $WLFI tokens, currently valued at $337.5 million, based on a 1.5 cents per token price at launch.


And it’s already looking like a failure because they’ve only raised $12.9 million so far, compared to the $300 million they were aiming for.

See how greedy this is? Trump’s family wants 75% of the revenue and zero liability if the coin fails. It’s clear there’s no real commitment, they’re just using their fame to get people to invest and make money off of them.

This is definitely a project to avoid. It’s better to invest in Bitcoin and just HODL.

https://www.cnbc.com/2024/10/17/trump-crypto-project-allows-ex-president-family-to-make-75percent-of-revenue.html

It's an L2 erc20 token, which by definition has nothing to do with any "coin". But $12.9 million for token that tried to run with $300M hardcap with $1.5 billion valuation is hilarious.
 
We shouldn't consider it as a "token sale", because it's just a fundraising for legal fees, disguised as a token. Normally significant part of that funding would be gone to token development, which already is misleading investors.

And about that liability: just token price falling doesn't mean anyone would be liable. But misleading users, market manipulation and other reasons makes main primary beneficiary (trump family) to be liable, no matter what the small print says.

[salad daging]

Trump Coin ($WLFI) Can’t Compete with Bitcoin

Was the coin developed to compete with Bitcoin? I don't think so. It was a project designed by Axiom Management Group to use Trump's publicity to pump the token and make people invest in it. Profit from the project will be shared among them, and those who invested in the shitcoins will go empty. Even if Trump becomes president it has zero chance of competing with Bitcoin.

This coin being developed to compete with bitcoin is ridiculous.
Maybe because the crypto trend is rising people think it will be in a bullish period in addition to the US election getting hotter in favor of bitcoin then it is clear behind it there is a profit interest they get.

The project behind a famous person will be hype in the beginning after which the token will be in free fall.
Moreover, the profits will be distributed to the Trump family and they don't want to bear all the responsibility, maybe everyone wants a business like this.

[albon]

And it’s already looking like a failure because they’ve only raised $12.9 million so far, compared to the $300 million they were aiming for.

What they mentioned in the paper they published clearly indicates that they will fail; I have no doubt about that. Who would put their money in this shitcoin without Bitcoin and other promising altcoins, and who would want to be exposed to the rug pull operation that Trump and his family and the project team sought to exploit his name to create hype around the coin and push investors to buy, thinking they might make profits? I hope those who helped raisee the $12 million dont regret it in the end because the project team bear no responsibility whatsoever.

They should have used their minds and kept greed at bay. A 75% share of the net revenue doesn’t seem reasonable, and the token distribution amounts, their percentages, and the information about the token lockup..all point to how greedy this project team is. I totally agree with that. We’ve already encountered influencers and prominent figures who promoted their coins and projects in the past, only for investors to end up losing their capital.

[EFS]

I wouldn't know about this coin if it wasn't for this thread. It can't compete with any coin in the market, let alone compete with Bitcoin. Their only goal is to make extra money from their fame. It has nothing to do with cryptocurrencies either, it has nothing to promise, it's clear what they aim for when you look at the distribution of coins. They set a target of 300 million dollars, but they could only collected 15 million dollars. They are far from their goal even while they are raising money. If anyone wants to throw their money away, they can buy this crap.

[Wiwo]

Trump Coin ($WLFI) Can’t Compete with Bitcoin

Was the coin developed to compete with Bitcoin? I don't think so. It was a project designed by Axiom Management Group to use Trump's publicity to pump the token and make people invest in it. Profit from the project will be shared among them, and those who invested in the shitcoins will go empty. Even if Trump becomes president it has zero chance of competing with Bitcoin.

The thing there is that, we shouldn't even look in that direction of the Trump coin being a competitor to bitcoin because that will never happen, what we should focus on is the area of utilities, what are the utility advantages and usage of the coin, because from all that I have seen, this coin is just built on hype and nothing more than that, and if nothing significant happens, it then means that it will become another shitcoin that will dump without possibility of gaining any value on the long term run.

Let not get carried away with the Trump association wuth coin to mean that it will become successful when there is nothing significantly clear about this project that can propel it success in the market.