Pump.fun & Memecoins - AKA: shitcoin maker for retards and rugpullers, powered by who else? Solana...

[neger psykolog]

Probably not a scam, but very, very shady at least. The amount of money that Trump and his entourage is making is just ridiculous. And something like 80% of all the coins are locked for a couple of months, held by a handful of people. Once they are free to trade it, it will likely crash the price. He is using his voter base, many of them not knowing who bitcoin is (what even is a Solana??). Yeah, it's obviously not only old people, but I bet you many have put in some money, that they will lose, once it crashes.
There also is the very obvious conflict of interest of a sitting president running his own coin. I really like no restrictions on crypto, but I am not trusting him not to just create his crypto legislation with his shitcoin in mind. Are we really going to act as if he will push coins like Monero that makes it nearly impossible for the government to track you?

Honestly, him doing that, in combination with the lying and extremely childish behavior that Elon has been displaying recently makes me not very optimistic for the next four years.

Another thing to add to this is that basically all US presidents (and their political parties) have been career, lifelong scammers. Congress plays the fucking stock market openly. No one can argue at this point that there is basically zero accountability besides the media trotting out its "approval rating" half way through the president's term that means fuck all and does nothing.

They all promise the world and then once elected mostly do fuck all. Trump has promised a huge amount of day 1 shit in the form of sweeping changes and executive orders.

For the first time there is a major stock/financial instrument/token that will arguably be tied to Donald Trump's performance as president. If he does well then technically "number goes up" and if he does poorly "number goes down" (trannies and ultra left wing people are vehemently anti-crypto/NFT to begin with so they won't do anything to impact the price).

So it's actually going to be way more interesting than I think people realize. Several memecoins related to him (that are all unofficial) see significant price activity whenever something notable happens with him.

This is almost basically futarchy: https://en.wikipedia.org/wiki/Futarchy (basically where the price is used to determine policy decisions)

What I personally like about it: If Donald Trump tries to get involved in some pointless war (he seems against them anyway) then the price would hopefully reduce significantly and make him personally feel the pain. But on the other hand it does make for a super huge conflict of interest as you've stated - but given congress is allowed to trade stocks and paid lobbying/corruption is basically completely done in the open in the US I'm not sure why there's any specific outrage about this happening.

Where can I buy the trump coin?

I'm kind of on the fence about answering this because crypto is insanely risky but people can buy it from their website using a bank card: https://gettrumpmemes.com/ there's some app you can install on a smartphone that allows you to buy the shit.

(to be clear: this kind of shit is super highly risky and you will possibly lose all your money if trump dumps the token or if ww3 happens or if the Solana blockchain has technical issues - do your own research and make sure you take account security seriously)

 

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(to be clear: this kind of shit is super highly risky and you will possibly lose all your money if trump dumps the token or if ww3 happens or if the Solana blockchain has technical issues - do your own research and make sure you take account security seriously)

Trump -- or whomever he licensed his name out to -- performing a pump and dump at the start of his second term would be the kind of thing they'd study in history books for the next 100 years.

Fuck it, we're in clown world, that'd be the maximum funny outcome, lets go.

 

[neger psykolog]

Trump -- or whomever he licensed his name out to -- performing a pump and dump at the start of his second term would be the kind of thing they'd study in history books for the next 100 years.

Fuck it, we're in clown world, that'd be the maximum funny outcome, lets go.

I used to use the whole "study in history books" thing a lot but I've come to realize that history books as a concept are now outdated. We live in the "now" and all of this shit keeps happening in a flash. I don't think history books or classes about this kind of thing will exist as we know them today.

 

[liam dees]

I used to use the whole "study in history books" thing a lot but I've come to realize that history books as a concept are now outdated. We live in the "now" and all of this shit keeps happening in a flash. I don't think history books or classes about this kind of thing will exist as we know them today.

You're right, future history "classes" will be like that scene from A Clockwork Orange where you are strapped down and forced to watch 40 mandatory hours of white leftist "man" video essays throughout the term or semester.

 

[neger psykolog]

You're right, future history "classes" will be like that scene from A Clockwork Orange where you are strapped down and forced to watch 40 mandatory hours of white leftist "man" video essays throughout the term or semester.

I mean history classes and history teachers have already been supplanted by whatever online personalities who make video essays anyway. They don't even need to be strapped down because paying attention to current events + politics is way more interesting (and relevant) than learning about some battle that happened in the year 1874 when people didn't even have modern sanitation, planes, cars or mobile phones.

 

[liam dees]

I mean history classes and history teachers have already been supplanted by whatever online personalities who make video essays anyway. They don't even need to be strapped down because paying attention to current events + politics is way more interesting (and relevant) than learning about some battle that happened in the year 1874 when people didn't even have modern sanitation, planes, cars or mobile phones.

I mean sure but there is so much misinfo, disinfo and psyops everywhere it's mentally taxing.

 

[A Cat in a Minefield]

What I personally like about it: If Donald Trump tries to get involved in some pointless war (he seems against them anyway) then the price would hopefully reduce significantly and make him personally feel the pain. But on the other hand it does make for a super huge conflict of interest as you've stated - but given congress is allowed to trade stocks and paid lobbying/corruption is basically completely done in the open in the US I'm not sure why there's any specific outrage about this happening.

Yes congress is doing that. It is fucked up and should not happen. They should retroactively be punished for ever having done so. This doesn't justify him pulling something similar though. He is the "drain the swamp" guy, the billionaire who doesn't do the usual politician stuff. That's what he has sold himself as. That's why people are outraged. This and the long history of pump and dumps that is just inherently tied to shitcoins.
We'll see how it goes.

 

[Ordovický]

I have bought small amout of that Trump memecoin. Last time i had great fun with dogecoin.

 

[neger psykolog]

Yes congress is doing that. It is fucked up and should not happen. They should retroactively be punished for ever having done so. This doesn't justify him pulling something similar though. He is the "drain the swamp" guy, the billionaire who doesn't do the usual politician stuff. That's what he has sold himself as. That's why people are outraged. This and the long history of pump and dumps that is just inherently tied to shitcoins.
We'll see how it goes.

Nothing ever changes until it does very suddenly. Somehow it was ok for decades for congress to act like faggots (besides the fact they're all so old it that it seriously calls into question their mental aptitude and decision making abilities).
I am certain we're going to see American and global politicians start to delve into making memecoins following $TRUMP's success and I'm curious to see how that will work with fundraising laws (if they use them for campaign fundraising). IMHO a token for campaign fundraising makes way more sense and is way more visible than a bunch of faggoty "Super PACs" that try to hide what they are (besides all the lobbying money and shit that is involved).

@cybertoaster I recommend to rename/reposition this thread to encompass all memecoins - pump.fun is just one memecoin place

btw I opened a talk to staff request to move this thread into the community watch subforum + also asked them to rename the title to be pump.fun + memecoins. I think there's enough appeal and the OP is already good enough for that to happen.

 

[somevan]

IMHO a token for campaign fundraising makes way more sense and is way more visible than a bunch of faggoty "Super PACs" that try to hide what they are (besides all the lobbying money and shit that is involved).

Some of the discussions I've been reading have concerned foreign investment. (Of course, many politicians have sold out and are corrupt, receiving money from domestic companies to create/enforce laws/regulations that benefit the company and foreign governments "donating" money for the same reasons.) Anonymous token purchases from foreign groups or governments that can't be tracked/traced to an exact owner open a new avenue for corruption.

For example, Elon Musk's $250m donation to Trump's campaign is publicly known, but if $250m worth of $TRUMP is bought from the creator's wallet by an anonymous wallet with no known owner, no one can honestly know who did it or why. It might be some rich crypto bro, some hedge fund investors, or a Saudi prince trying to make another few million.

Since Trump and his group hold 80% of the supply in this case, once the unlocking schedule hits and tokens start being sold to the public, it wouldn't be difficult for any person or group to buy millions of dollars worth of tokens that directly pay Trump and his group. Every transaction, in general, provides a small tax (I don't know what the exact amount is or the exact term) as well as every transaction from the owner's wallet to another will directly pay "Creators & CIC Digital."

Hopefully this is just speculation and doesn't come to pass, though.

Edit:
@TheCuntler

One thing I don't get though is why it is a good thing that a hand full of people hold an extremely large amount of the coin. Sure, it is locked, but nothing stops them from dumping it, once their share gets unlocked. Apparently some coins do that when they are creating a bigger platform, and they use that big amount for years of funding, But there isn't a reason in Trumps case. It's a memecoin that serves no purpose.

Just like you said, there is no practical reason for the owner of the coin to hold 80% of the supply in this case. Every purchase from the owner's wallet pays out the owner. Waiting a few months before they start selling more to the public gives time for the price to increase and gives the illusion of safety: "They can't dump all their tokens immediately after launch and can't dump them all at once." True, but if they did, the price would crash to nothing and the scam would be obvious. Selling slowly over time allows the price to semi-stabilize. Also, their plan is to have 50% of the total supply unlocked within 12 months and 90% in 24. To me, that means this coin will be abandoned and forgotten about within 24 months. Also, what can even be done with $TRUMP?

Say I buy $100 worth of $TRUMP today. Some of that money goes to Creators & CIC Digital as a form of "tax." If I buy from another public wallet, then I am paying someone else. If I wait three months for the next unlock and buy from the creator wallet, then I'm giving the money directly to whoever owns $TRUMP. I wait and the price doubles, so I sell. Some amount goes to the creators as a tax and someone else now holds the coin. But what else is there to do? The only use for the coin is to trade it. The end results will be the creators make a lot of money, some outside group of traders also profit some amount, but the vast majority of holders lose money.

Keep in mind, as far as what is publicly available, the public doesn't know who is included in the "Creators and CIC Digital" group. We know the big DJT is, but who else? I don't think there is an inner circle of people who currently own the coin after buying from the 20% initial supply, because the inner group holds the other 80% right now.

 

[neger psykolog]

Anonymous token purchases from foreign groups or governments that can't be tracked/traced to an exact owner open a new avenue for corruption.

Minor nitpick but unless the funds originate from places like monero or come from money that was stolen in the first place then they are pseudonymous. It is still totally possible to unmask who owns certain accounts, especially when they use onramps/offramps (convert fiat money to crypto or vice versa).

People often thing cryptocurrency is anonymous but it really isn't (besides monero and some other anonymous coins). It's a giant public ledger that people do look into - that isn't to say that every buyer/seller is going to get turbo dox'd but it does mean that if someone identifies that North Korean government hackers have put $20 million USD into $TRUMP then it's going to cause a giant fucking headache (and that is a totally viable and almost probably scenario because North Korean hackers steal tons of fucking money and get identified all the time) - cybercriminals will even buy/sell into popular cryptocurrencies just like $TRUMP to help launder the money they've stolen.

I can almost guarantee with near certainty that a decent amount of buys/sells of $TRUMP have been from either stolen funds or using money from the proceeds of illegal crimes that people are trying to launder/muddy.

 

[The Punished Mitch]

Got in at around 28 earlier today, sold half the bag at 60 so we're playing with house money baby.

 

[neger psykolog]

Obviously for people that got in super early, this kind of shit can really legitimately be life changing money but this experience is rare and atypical.

 

[Dai-ichi Kangyo Bank LTD.]

That's always the funny part with crypto projects. The U.S. has relatively strict regulations so non-Americans end up getting pretty involved in the market. I wish there was a breakdown of country of origin for wallets, but I don't believe that exists.

For some reason, Istanbul Airport in Turkey had a shit ton of Crypto ads when I was there for a layover. In 2021, a Turkish exchange called Thodex did a $2 BILLION exit scam and its founder went on the run. When the feds found him they sentenced him to 11,000 years in prison. Considering the inflation of their lira over that time period, a lot of these investors are probably from inflation-ridden shitholes whose fiat money is arguably more of a scam than SkibidiCoin.

 

[Breadbassket]

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Obviously for people that got in super early, this kind of shit can really legitimately be life changing money but this experience is rare and atypical.

That's the siren call of cryptocurrency, if it works out you can profit a lot at the ground floor but if it is a scam from the outset you are doomed from the very beginning you invested money into it.

 

[neger psykolog]

That's the siren call of cryptocurrency, if it works out you can profit a lot at the ground floor but if it is a scam from the outset you are doomed from the very beginning you invested money into it.

That really depends - not everyone sitting at the table is just buying/selling on the market, maxing out credit cards and betting their kids college fund or alimony payments like some people here might expect.
Even if something is an outright scam or stupid people can still make money by doing things like providing liquidity or market making and other shit. It's risky and complex and requires a great understanding of shit, but there are companies and individuals that just do that kind of shit.

I guess another way to put it is there are total amateurs playing this game who put in their $5 or $5000 and risk it all to try and make 500x and often times lose it all but there are also always people who are happy to make no more than a few percent in gains over a few weeks by doing liquidity/market making shit.

For anyone that isn't aware, outside of the people playing the casino game there's an entire industry of influencers (they're called KOLs or "key opinion leaders"), market makers, liquidity providers, aggregators and all sorts that will list and promote projects so that people know about them in the first place. The biggest money makers are usually exchanges who generally charge money to list projects in the first place and set requirements for how much volume and shit the project has to have.

 

[Breadbassket]

That really depends - not everyone sitting at the table is just buying/selling on the market like some people here might expect.
Even if something is an outright scam or stupid people can still make money by doing things like providing liquidity or market making and other shit. It's risky and complex and requires a great understanding of shit, but there are companies and individuals that just do that kind of shit.

I guess another way to put it is there are total amateurs playing this game who put in their $5 or $5000 and risk it all to try and make 500x and often times lose it all but there are also always people who are happy to make no more than a few percent in gains over a few weeks by doing liquidity/market making shit.

For anyone that isn't aware, outside of the people playing the casino game there's an entire industry of influencers (they're called KOLs or "key opinion leaders"), market makers, liquidity providers, aggregators and all sorts that will list and promote projects so that people know about them in the first place. The biggest money makers are usually exchanges who generally charge money to list projects in the first place and set requirements for how much volume and shit the project has to have.

It can't be denied there is good money to be made in being what is basically the stock exchange ecosystem but for cryptocurrency. As the past few years have shown us though that can come with its own share of risks.

 

[neger psykolog]

It can't be denied there is good money to be made in being what is basically the stock exchange ecosystem but for cryptocurrency. As the past few years have shown us though that can come with its own share of risks.

It can't be said enough but you can make way more money by running a legitimate operation as a service or infrastructure provider in the ecosystem instead of launching scam projects - you're still going to make a cut of the money that flows in and out of scams (and legit projects) if people have to use your service somehow.

There's even "influencers" who have massive followings on Telegram and Twitter who make fake PnL (profit/loss) screenshots and dupe people into buying whatever new memecoin they get paid to promote (or they've bought into it and just sell under their followers who buy it).

You need some reputation to launch a project in the first place and a lot of people burn their reputations by scamming their followers. But sadly, even career scammers in crypto and memecoins who have launched proven scams repeatedly still manage to launch new projects that people fall for all the time - its honestly disturbing just how many stupid people there are who will happily dump a hundred thousand dollars into some random ass new memecoin that ends up being a scam. https://x.com/zachxbt is one of the best and funniest accounts to follow because he often times replies to people and points out that they're scammers and provides the receipts

https://x.com/zachxbt/status/1878093684207395027

 

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https://x.com/hradzka/status/1881157404274151459

Normies not realizing that crypto transactions are public information will never not be funny.

 

[somevan]

Following her husband's footsteps, Melania Trump has now advertised the $MELANIA coin on the solana network. It's current price is ~$9.4 and sits at over $1.15 $1.22 billion trade volume in a 24-hour trading period, along with an over $9.7 $ 8.97 $9.4 billion market cap (changes quickly).

Tweet / Archive


The website is https://melaniameme.com/
Archive


Coinmarket link


Personal notes:

The token distribution breakdown isn't as clear to me as $TRUMP's was. I don't know the exact amount of tokens currently in circulation. With $TRUMP it was easy to see 80% locked up but here, I'm not certain what it is. I also don't know what is meant by "community" or "treasury." I understand "Team Vesting" to be equivalent to $TRUMP's "Creators & CIC Digital" though.

The wording "This vesting schedule ensures long-term commitment from the team while gradually increasing circulating supply" is used, but to me, 13 months doesn't seem like a long-term commitment, even when compared to $TRUMP's 36 months.