Is Trump official meme coin a threat to Bitcoin ?

[Kavelj22]

Nah, it will never become a threat to BTC. A memecoin will always be a memecoin, no matter what. Any memecoin that is made, or will be made, by Trump will pump hard but will also go down again once the hype is over. That’s the cycle of memecoins. Even if he makes a coin with utility, we still can’t say it will become a threat, even if it becomes widely accepted, simply because btc is btc.

A coin with utility won't bear the name of "Meme". I don't know how this idea came across his mind because like you said btc is btc and meme shitcoins are shitcoins. But I can understand some of his frustrations as he sees Trump star shining as a big influencer politicians who seems to be changing the world order to a completely unexpected orientation. He might fear the status of bitcoin because of his ignorance about the nature of each project.

I would like to reassure op that that Trump Coin is far to be in comparison with bitcoin. Bitcoin is fully decentralized protocol while Trump shitcoin is a bump and dump coin. Most likely a scam project.

[zeuner]

Bitcoin is fully decentralized protocol while Trump shitcoin is a bump and dump coin.

Obviously, it's no competition technologically. But how would the decentralization help against pump and dump (albeit at a larger scale)?

[Kavelj22]

Bitcoin is fully decentralized protocol while Trump shitcoin is a bump and dump coin.

Obviously, it's no competition technologically. But how would the decentralization help against pump and dump (albeit at a larger scale)?

If the coin can be manipulated by a centralized authority, then it's not fully decentralized despite it's blockchain designed. I can mention other cryptocurrencies that seems to be fully decentralized but their development is between the hands of centralized decision makers. Memecoins however are nothing but a concept to make bump and dump benefits because they have no use cases plus development issues. 

[Cyber_warrior]

It is growing very fast. Is it a threat to Bitcoin or can we see it a good initiative that will lead to growth in price of all good coins including Bitcoin also ?

Who is even going to think a meme coin is going to be a threat to bitcoin, that’s not just going to be possible. Just because a coin is backed by someone doesn’t mean it’s going to be a threat to bitcoin. Meme coins are just hype, and when the hype goes down, you not going to be hearing about the coin again that’s why investing in meme coins is just so risky.

There was so many hype on Trump coin, but can you even hear about the coin right now again? The hype has died down, and the price has crashed already, people that invested in the coin are currently in loss, and I don’t know if the price is going to bounce back soon, or it’s even going to bounce back.

[Taricoins]

Bitcoin is fully decentralized protocol while Trump shitcoin is a bump and dump coin.

Obviously, it's no competition technologically. But how would the decentralization help against pump and dump (albeit at a larger scale)?

I don't think this topic should even be something to debate on because there is absolutely no way that a coin which one greedy ass fellow can manipulate can major up to the standards of Bitcoin. I mean we all saw the magic it performed during the first time it was launched so why all the fuzz now.

[Orpichukwu]

This thread stands as a remembrance of the famous memecoins in the name of an elected president who eventually failed along the line, alot of speculations was around the coin when it was launched almost a year plus now but still it has always ended in disappointing ending for those that invested in the trump and Milena shift coins.

Memecoins are priced based on how they are hyped. Trump coins just came to take some money away from the market; nothing more. The Trump family has made billions from innocent and greedy investors' pockets. This won't only mark the creation of one of the presidential memecoins, but it's also a starting point for money scams to be carried out by politicians who are in office and think their influence is enough to scam and go free.

[Iamgoat]

Bitcoin is fully decentralized protocol while Trump shitcoin is a bump and dump coin.

Obviously, it's no competition technologically. But how would the decentralization help against pump and dump (albeit at a larger scale)?

If the coin can be manipulated by a centralized authority, then it's not fully decentralized despite it's blockchain designed. I can mention other cryptocurrencies that seems to be fully decentralized but their development is between the hands of centralized decision makers. Memecoins however are nothing but a concept to make bump and dump benefits because they have no use cases plus development issues. 

Simply put by you. I like your explanation because it gives every reader a good read in the very simple and apt manner. You can’t even compare any memecoins with bitcoin because they are not strong and are easily influenced by forces which brought them as projects and we have a lot of them scattered everywhere within the system and people fall into such traps of investing their funds on a coin they barely understand its history and its future value, but because they see it trending or making waves, they also want to invest money. But it is not how it is should be done, let it be more of you understanding and understudying the coin before you think of investing in it.

[jostorres]

This thread stands as a remembrance of the famous memecoins in the name of an elected president who eventually failed along the line, alot of speculations was around the coin when it was launched almost a year plus now but still it has always ended in disappointing ending for those that invested in the trump and Milena shift coins.

Memecoins are priced based on how they are hyped. Trump coins just came to take some money away from the market; nothing more. The Trump family has made billions from innocent and greedy investors' pockets. This won't only mark the creation of one of the presidential memecoins, but it's also a starting point for money scams to be carried out by politicians who are in office and think their influence is enough to scam and go free.

I think Trump was missing out the hype after we saw Elon musk backing dogecoin. Trump might have given it a second consideration about why not enter the markets with this shitty coin thinking people will blindly believe in him as he is one of the most powerful people on the earth. This might seem true for a while but crypto markets are not in anyone's pockets. This trend will wipe our millions from the markets and these investors who found trump coin to be safer will wind up in losing the money they have invested. Trump will to take a quick exit out and will eventually neglect his relationship with this meme coin.

These meme coins are nothing but over hyped coins which will never last. We have seen past performances of these meme coins. They go well for a couple of months or maybe even for a year, but they do not have a future. They will end up being worthless as soon as people realize there is nothing strong backing these meme coins.

[Stablexcoin]

Memecoins are priced based on how they are hyped. Trump coins just came to take some money away from the market; nothing more. The Trump family has made billions from innocent and greedy investors' pockets. This won't only mark the creation of one of the presidential memecoins, but it's also a starting point for money scams to be carried out by politicians who are in office and think their influence is enough to scam and go free.

Big name doesn't matter when it comes to cryptocurrency, without good utility to backup the project, whatever is linked to the project is not enough to sustain the project without collapsing. I don't know much about the Trump memecoins, i can tell that for the majority of memecoins that have come and gone, they are nowhere compared to Bitcoin.