Legal will be the biggest winner in the next 4 years because multiple lawsuits awaits
I am absolutely not kidding when I say that the United States is a joke right now because what do you mean Melania Trump just launched her own memecoin?
On what grounds is this relevant?
I mean, a Trump meme I understand given the whole “Crypto president” sentiment and generally the horrors Trump has undergone whilst running for President, but Melania?
Come on, that just makes everyone that doubted that this was all just a cash grab see it for what it really is now; a not very strategic rugpull, almost like those running the show are practically dummies with zero knowledge on best practices running a crypto project, even if it's a shitcoin.
Well, shame on us I guess for thinking highly of politicians right?
Apparently the MELANIA memecoin has an even worse distribution schedule compared to TRUMP and it kinda makes sense.
Trump cannot sell his shitcoin without attracting significant backlash but Melania can with little reaction.
Matter of fact, that has already happened because the tokenomics data is a absolute fraud.
Team is allocated 35%, treasury 20%, community 20%, liquidity 10% and public distribution 15%.
First off, this is a memecoin, no one is expected any real developments around it, so having team, treasury and what the fuck is “community?” is all just fraud because all of that is really just “team allocation” at the end of the day.
Women and dishonesty right? That would be an unfair judgement because it's mostly greedy male politicians including Trump pulling the strings, Melania is just the face of the fraud.
Moving on, according to data from Cryptorank, the circulating supply currently is 150 million, and within 30days, 10% of team allocation will be unlocked instantly, with the remaining 90% unlocked linearly(2.5%) every month until a full unlock is realized.
Fun fact: there's no information on how Treasury, Community and Liquidity funds will be managed or even the unlock schedule. 10% of team token is about 35 million tokens and at the current price of the memecoin, being approximately $10.72, that would be a $375.2 million unlock.
Imagine making almost $400 million in a month without a single valuable product or service to the earth.
What's that saying about reputation and popularity again?
“It is the greatest currency”
So watch these old lads gain more wealth because degenerates want to gamble on a crypto president.
Did I mention that Solana has practically crashed, same with Phantom and Coinbase(reportedly - not really confirmed) and there's barely a million people trading this shit.
I guess we are really not ready for mass adoption, still.
The lawsuits will be CRAZY
I expect a flood of lawsuits at some point. MALENIA is clearly a way for the Trump administration to cash in earlier than the 3 months set for the TRUMP memecoin.
The reason for this is quite simple, they did not expect TRUMP’s token to perform so well. The probably expected similar performance with Trump NFTs in the past.
But unlike NFTs, tokens are far more liquid and more people understand it.
Something I missed to include in my coverage of this wild events yesterday is that Peter Schiff has taken the chance to throw sheds at the crypto ecosystem, particularly Bitcoin, as always.
Honestly, the Bitcoin community deserves it for all the ass licking. Majority of them have been silent throughout this clown show.
Peter posted yesterday:
It took #Bitcoin 8 years to reach a $72 billion market cap. $TRUMP did it in two days. $TRUMP is worth 50% more than $NEM, the world's largest #gold mining company. It's up 40K% since Friday. It's clearly a much better store of value than Bitcoin. $TRUMP is the new digital gold.
As if the mockery wasn't obvious, Bitcoiners still took the bait and made ass responses like this:
Bro you’re comparing Trump which is 24 hours old to Bitcoin. Calm down. They’re not the same. And gold still sucks either way.
His response:
Well people compare Bitcoin to gold. Bitcoin has only been around for 16 years, while gold has been used as money for over 5,000. Pretty similar relative longevity.
Saying that gold sucks is borderline stupid, as If its some random vaporware stock and I'm not even siding Peter on anything Crypto or Bitcoin related.
It is beyond comical that Trump would expose himself to this much nonsense and it's really borderline stupid.
You can't tell me he can't raise capital any other way, if that was the goal.
This is all just pointless and only opening up room for various lawsuits, and I can't think of any one other than the legal system making a bank for all the long court hours.
Maybe, just maybe, that's the ultimate goal.
In wake of recent madness, confidence levels in the Trump administration being Bitcoin-friendly is taking a nosedive as Polymarket odds for the Trump administration establishing a Bitcoin reserve in its first 100 days has dropped to 36%.
This is a pretty expected reaction because Trump seems to be an ETH bull based on data from lookonchain showing that he's buying just that.
What a time to be alive.
Posted Using INLEO
ohrly?
Who will execute these lawsuits?
The securities exchange commission?
The executive branch appoints the chairman of this agency.
So Trump will appoint someone that brings him to court?
And on what grounds will he be brought to court?
These tokens aren't securities or even investment contracts.
No I think if we get any lawsuits they'll be well after the 4 years are up.
I don't think there will be any; especially not successful ones.
That's the thing, it's not about any of the potential lawsuits being successful, that's what I mean by "legal" — essentially the system — being the biggest winner of all the crazies that will unfold.
People will get mad about a lot of things and will try to take a chance at lawsuits but it won't amount to much because the 47th US president basically just made outright grift not persecutable.
Right... yeah I'm just not convinced they can even get as far as starting the suit in the first place... but I see your point. I have yet to see a single meme coin be legally pursued even under the old administration. Have you?
Even outright 'scams' that rug haven't been pursued.
But they aren't scams because they aren't promising anything.
If I tell people to give me their money and they do... that's not a scam.
I think it's a lot more complex than that. Whilst there's not been any memecoin lawsuits that I'm aware of, I expect that there will be, at some point.
Bottomline, a scam = a dishonest scheme to make money off others, and that's exactly what launching a memecoin that you definitely plan on rugging on the idea of "community" or whatsoever as an influencial figure is.
There's going to be slip ups at some point, especially in the marketing and continued subtle promotion of these coins.
They may not be securities or investment contracts fundamentally, but depending on what each memecoin represents and who is behind it's launch, it can be perceived as a scheme to rob others.
There's an expectation of profit off the labors of others(essentially the team behind the launch) from buyers. That's really all anyone looks to buying any of this shit.
But certainly, legally, at least right now, all what's been said above may not hold any weight, but it's still an embarrassment that this is all happening and it all can't be bulletproof, is all am saying.
Time will tell I guess.
Is Trumpster Fire a term that people use?
I can't argue with the fact that this is embarrassing and unethical behavior (as if Trump could get any more embarrassing or unethical) but what I find more interesting than all that is that many people in crypto seem to not understand what they signed up for.
Everyone signed up for anarchy... and they don't like it. Everyone signed up for no rules and an infinite number of self-regulating digital communities. Something goes wrong and they tuck tail and demand the "authority" handle it. There is no authority. We are entering a new paradigm where people need to take responsibility and figure their own shit out.
Oh, you got scammed? Ah well... fuck you. Own up to your own fuckup and learn from it. Stop trying to put someone else in charge to fix your problem. It's not going to fly in this lawless jungle we've built. And yes that's harsh and will be a hard lesson for many but it's better than what we had going before.
It looks like Trump is bringing true anarchy to crypto, at least for a short time... which is pretty insane I would actually not have guessed it. The real question is what people are going to do with this freedom. A lot of people are going to scam but at least one person will build something truly legitimate that totally would not have been allowed under the last administration. Will it be worth it? I mean it already has been worth it because the SEC hasn't protected a single person or gotten anyone's money back. Crypto enforcement has been less than worthless since the beginning.
Oh yes, was going to point this out but didn't want my reply longer than it already was or seem like I was touching on too many things at once.
Right after publishing this post, all I could think of was how Trump has literally given a greenlight to the ecosystem to do all sort of crazy stuff because the system will have to persecute the President first before anyone else.
Interestingly, it's quite hilarious actually, people are so stupid it's unimaginable and all that is happening just shows why the current system has had us trapped for centuries, we essentially run back to them — "our abusive daddies and moms" — when shit we do elsewhere pricks us.
All whilst claiming we don't need them. The delusion is laughable, almost like they can't fully grasp that "decentralized governance" is essentially a new sort-of legal system and anything it cannot influence, well, we can't do anything about.
Maybe someday, they will have their moment of realization, but for now, judging by the known nature of people and their enslaved mind, they are definitely going to be attempts at lawsuits, maybe more when Trump is out, but there will be.
And something tells me that how all of those plays out will have a great impact on how this ecosystem evolves in the next decade.
Yep sounds like a good theory.
All that's left to do is pay attention and reflect back on this.