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

[AlfaMale]

Stacc is such a legend. I really wish there were more people like him nowadays

 

[neger psykolog]

Someone did a school shooting and people immediately made multiple memecoins: https://kiwifarms.st/threads/shooting-at-wisconsin-christian-school.207069/post-20097773 / https://kiwifarms.st/threads/shooting-at-wisconsin-christian-school.207069/post-20098029

(Note: to be very clear none of the memecoins seem to have any relation to the actual shooting. People just create them when anything topical happens)

 

[neger psykolog]

Why do you say this?

You're right I guess - I don't know that for sure and don't follow her enough to make such a claim.

In any case the hawk tuah woman has basically disappeared for the past 10 days which is pretty funny.

 

[my penis is on fire]

I have a pet-tinfoil-hat-theory that the reason CBDC isn't being pushed anymore is because almost everyone deeply involved with crypto is pants-shittingly retarded, leading the Powers That Be to decide nothing worthwhile can be done with it. Centralized crypto that's scaled up enough to run the financial systems of entire countries was a dream that died with FTX, and in the meantime all blockchain devs have been focused on is maximizing crypto's use as a gambling tool. Sure it can be used for ponzi scheming, but what good is it if you can't run a bog standard financial institution with it?
Upon realizing that the pinnacle of crypto innovation was just a way to sell pictures of colorful monkeys, whichever Elder of Zion was responsible for the Digital Mark Of The Beast™ probably decided to pull the plug on the project.

 

[cybertoaster]

I have a pet-tinfoil-hat-theory that the reason CBDC isn't being pushed anymore is because almost everyone deeply involved with crypto is pants-shittingly retarded, leading the Powers That Be to decide nothing worthwhile can be done with it. Centralized crypto that's scaled up enough to run the financial systems of entire countries was a dream that died with FTX, and in the meantime all blockchain devs have been focused on is maximizing crypto's use as a gambling tool. Sure it can be used for ponzi scheming, but what good is it if you can't run a bog standard financial institution with it?
Upon realizing that the pinnacle of crypto innovation was just a way to sell pictures of colorful monkeys, whichever Elder of Zion was responsible for the Digital Mark Of The Beast™ probably decided to pull the plug on the project.

CBDC wasn't going to be like crypto or even decentralized unless you consider only the Fed, IRS, and select few banks running it on their systems to be decentralized.

To understand CBDC you need to read about the worgl experiment and the concept of demurrage currency. But CBDC adds something those austrian paper notes couldn't do in 1930 which is not just have an expiry date which forces you to spend your money so numbers go up and the overclass is happy that there's no deflation because the plebs want to keep their money. CBDC also controls how you spend that money, what you can buy with it. Want to buy a gas car? nope you can't, you have to buy an EV even if its more expensive because politicians want all ICE vehicles gone in 5 years. Want to move to a nicer neighbourhood? uhh jeez we don't want any white flight! so nope. Want to back an anti-establishment candidate? a "problematic" organization? now you can't because your money becomes "locked" when you send it to the wrong people and they can't do anything with it, in fact any funds the individuals themselves in that organization have can be locked on a whim by TPTB.

While crypto is literally the tulips again, an asset that its only worth anything because people think its worth something yet its backed by nothing and will seem like a good investment until the instant the music stops and nobody wants it anymore, crypto its still something you can use however you like........as long as you don't mind the sometimes onerous fees, the delays to transfer and the complete lack of any safety net. But there's nobody saying what you can or can't do with crypto, but CBDC its literally programable money.

 

[neger psykolog]

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

Donald Trump has launched an official memecoin: https://decrypt.co/301691/donald-trump-drops-solana-meme-coin
The marketcap in the article is $7.1 billion USD but it has already shot up to $23 billion USD

edit: The diluted marketcap is currently ~$6 billion USD with a FDV (fully diluted value) of $29 billion USD

 

[Osama Bin Laden]

Donald Trump has launched an official memecoin: https://decrypt.co/301691/donald-trump-drops-solana-meme-coin

so is this a scam or no

 

[neger psykolog]

so is this a scam or no

Well its an "official" memecoin of Donald Trump in that he is actually associated with it - there's already like 100 "fake" ones and even some that tried to pretend they had an association with Donald or his son (that faggot pharmabro nigger Martin Shkrelierlekrli was associated with that one and got owned hard by everyone calling him out on on being a faggot as well as a nigger)
Whether its a scam or not depends on if the original team/developers sell their distribution early on. I don't know enough about it but it looks like the distribution will gradually release over some period of time according to the tokenomics page on the website.

I would venture to say its not a scam because just by being "real" and associated with an actual sitting US president (Donald Trump no less) they can make tons of fucking money by just playing their cards straight.


(full distribution happens over 3 years: https://gettrumpmemes.com/)

 

[somevan712]

so is this a scam or no

This coin will get rug pulled and the price will fall to practically nothing, the same fate as thousands of other "memecoins." To me, that is a scam. To others, it's an opportunity to make money off people who believe they will be the lucky ones. The coin has no practical use since it won't be an acceptable form of currency in online transactions and it's a guarantee the project will be abandoned within a few months.

See the token Trump previously endorsed, the one he received tokens/money for tweeting about:

(Previous graph removed due to being incorrect. Thank you neger psykolog for the correction.)

(The very recent increase in price is due to the release of $TRUMP)

Trump is CIC Digital LLC's Manager, President, Secretary, and Treasurer, as seen by his 14 April 2023 filings. He and his LLC own up to 80% of the "Trump Cards" (Fight Fight Fight LLC is also mentioned and no exact breakdown of allocation between the two is stated) and receive money from transactions.

Whether its a scam or not depends on if the original team/developers sell their distribution early on. I don't know enough about it but it looks like the distribution will gradually release over some period of time according to the tokenomics page on the website.

Starting three months after launch, Creators & CIC Digital will begin selling their held tokens to the public, inflating the market and dropping the price, and the sellers will profit. Within 12 months, 50% of the 1 billion tokens will be circulated publicly. Within 24 months, almost 90% will. The 3-year unlocking schedule may be misleading at first glance.


Trading before the 3-month mark may be the best way for anyone wanting to profit. During this time, only the public will be trading. After that, the token owners will be able to dump their tokens.

(Please correct me if anything I said is incorrect, though)

It would be funny if Null started accepting $TRUMP as a way to support the Kiwi Farms, though.

 

[neger psykolog]

See the token Trump previously endorsed, the one he received tokens/money for tweeting about:

I believe World Liberty was primarily going to be a platform and not a memecoin and that one you linked has nothing to do with the project Donald Trump and his retard son were talking about. The website for it doesn't even load and the screenshot you shared has a warning banner saying it has nothing to do with Trump.
This is a common scam in crypto, where people launch things with similar names to "real" shit to try and get in on the action.

The "real" WLFI website is here: https://www.worldlibertyfinancial.com/intl/token-sale and it looksl ike the token hasn't even launched yet: https://etherscan.io/token/0xda5e1988097297dcdc1f90d4dfe7909e847cbef6

The token involved with the "real" WLFI involves governance and shit so it is a utility coin and by definition not a memecoin.

Starting three months after launch, Creators & CIC Digital will begin selling their held tokens to the public, inflating the market and dropping the price, and the sellers will profit. Within 12 months, 50% of the 1 billion tokens will be circulated publicly. Within 24 months, almost 90% will. The 3-year unlocking schedule may be misleading at first glance.

Yeah the 3 month cliff period is a "good" sign for anyone not aware.

Whether or not the token dumps is anyone's guess because Trump is not only the largest celebrity by fucking miles to launch a memecoin but he's also a sitting US president and the 3 year long vesting period aligns almost with the time that he will be acting president. The market performance of it could be tied to how people favor Trump.

It should be noted: Many, many people who will be buying this memecoin won't even be Americans because America has severe restrictions on crypto shit.

edit: the current 24h trading volume is $9.2 Billion USD which is fucking insane

 

[somevan712]

hat one you linked has nothing to do with the project Donald Trump and his retard son were talking about.

Thanks for the correction. I edited my post accordingly.

The token involved with the "real" WLFI involves governance and shit so it is a utility coin and by definition not a memecoin.

That's fair, though the actual utility of it is questionable. I do wonder if it will ever "release."

The market performance of it could be tied to how people favor Trump.

I think this will be part of it for sure. There will still be a large group that buys/holds regardless of Trump's performance and public perception, but there may be price fluctuations related to his time in office.

It should be noted: Many, many people who will be buying this memecoin won't even be Americans because America has severe restrictions on crypto shit.

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.


$9.47B 24h trade volume now. + $~200m since your screenshot. Crazy.

 

[neger psykolog]

That's fair, though the actual utility of it is questionable. I do wonder if it will ever "release."

I can't be fucked to read into it but they do have a section on governance: https://www.worldlibertyfinancial.com/intl/governance
TLDR if you own the token you can vote on shit that it does (such as spending money to invest in shit or other decisions, their bylaws are written here: https://www.worldlibertyfinancial.com/intl/bylaws)

On top of that the tokens are hard-locked at launch unless governance votes to unlock that functionality (ergo you cannot buy/sell them or transfer them to other people unless you give them your wallet password which doesn't really work in terms of trust). This is likely done to sidestep regulatory concerns (ironic since Donald Trump is now going to be president and can fuck off this kind of bullshit regulatory shit in the first place):

Non-Transferable. All $WLFI will be non-transferable and locked indefinitely in a wallet or smart contract. You should think of your purchase of Tokens like other non-refundable purchases of goods and services and accept the risk that once you've paid the purchase price, your interest in the Token may decline and you have no expectation of resale of the Token. Any purported transfer in violations of transfer restrictions will be null and void by the Company, and the Company reserves the right to take action against any purported transfers. If transferability of $WLFI is sought to be unlocked in the future through protocol governance procedures, such unlock would only be permitted if determined not to contravene applicable law, which in any case would be more than 12 months after completion of the Token Sale. You should assume that the Tokens are non-transferable indefinitely. As the Tokens are non-transferable, the Company has not taken any action to, and has no plans to, create a secondary market for the Tokens.

I believe it will "release" when the pre-sale ends but it hasn't sold very much so far:

https://www.worldlibertyfinancial.com/intl/bylaws

It may release before then. I'd have to read more to understand it but I'm too lazy to (You can probably gather from the way I'm writing here that I read a lot of this type of stuff so it isn't really laziness more just mental exhaustion)

TLDR: it is not an absolute get rich quick scheme nor scam. It (WLFI) may have genuine use and be an interesting project that generates money and legitimate use. On top of that they have made their team public and it doesn't have indications that it involves scammers (whether or not you consider Trump and/or his sons to be scammers is up to you I guess). I didn't do a deep dive on any of the team members though.

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.

This is effectively impossible to do but its possible to kind of tell where inflows (i.e. money) come from. Many exchanges don't allow US customers so you can at least tell that much. Outside of that you'd have to dox wallet owners which is hard/impossible and unreliable. Besides all of that Americans use VPNs and pay for verified exchange accounts anyway so they can use these exchanges.

Donald Trump is supposedly going to fuck off all the gay regulatory rules that have stopped Americans from being able to get involved and Gary Gensler (the previous head of the SEC under the Biden admin) has already announced his retirement. He has been a notable faggot and total nigger when it comes to regulations so it is very likely Americans are going to start getting way more involved in cryptocurrency as a whole.

 

[No. 7 cat]

Scrolled through the site and saw some link to a Telegram channel dedicated to outing scammers on the platform.

View attachment 6715797

The link might be incorrect or that page is 404, dunno.

 

[neger psykolog]

Trump's memecoin peaked at a FDV valuation of fucking 78 billion USD in the last few hours. It's now back down to 65 billion USD.
It is now the 14th largest cryptocurrency by marketcap (by undiluted value)



The trading volume is fucking insane. This is all insane.

For some khantext, peak NFT hype had a volume across all NFTs of $57 billion USD. Just Trump's memecoin has a 24h trading volume of $15 billion USD.

https://www.theblock.co/post/334700/nft-trading-volume-2024

edit: I'm reading shit on tweeter and people are mad because the amount of interest in the trump memecoin is so high that the price of other cryptocurrencies has dropped as a result of it.

edit:
It's now the number 12 cryptocurrency:

 

[A Cat in a Minefield]

I don't understand how can trump coin be a scam. It was public for severely says, if you bought one yesterday, you can sell it today with significant profit.
There is no inner circle knowledge afaik which made it profitable only to them

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.

 

[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.

The tokens release gradually on a vesting schedule. There's a 3 month cliff period where I believe they get some smallish amount but there's no massive dump of tokens that is going to be released suddenly. And when they are released people can see what is done with them.

Given the amount of money flowing into it, it's basically impossible or a severe moot point to have some super secret inside circle. They'll make more money by doing things honestly and not pissing off the market.

As to whether a sitting US president should have a memecoin and conflicts of interest it's a very interesting question

 

[ForTheHoard]

FARTCOIN is no slouch today, either.

 

[A Cat in a Minefield]

The tokens release gradually on a vesting schedule. There's a 3 month cliff period where I believe they get some smallish amount but there's no massive dump of tokens that is going to be released suddenly. And when they are released people can see what is done with them.

Well, time will tell. I hope you are right for all the people who bought it. But him launching a shitcoin did not increase my confidence that he or any other of his circle would just dump it.
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.

 

[liam dees]

FARTCOIN is no slouch today, either.
View attachment 6875566

This crypto market needs a hero!

 

[High-Fructose Corn Syrup]

Where can I buy the trump coin?