Meme coin madness

[Old Crank]

The Trump meme coin, is it useable, caused other ecoins to lose value. SAme with Melania's which helped Trump's coin drop also. This is pure gambling. The rubes will take it on the chin. He has held back 80% of the number, inflating theri supposed value.

https://www.msn.com/en-us/money/markets/bitcoin-ethereum-dogecoin-plunge-as-official-trump-memecoin-loses-way-analyst-says-great-times-are-ahead-for-these-coins-as-dollar-index-weakens/ar-AA1xusPA?ocid=AMZN

[Old Crank]

1. Another article as a follow up

Melania took money from Trump's coins.

https://www.theguardian.com/technology/2025/jan/20/donald-trump-meme-coin-price-melania-token

[rampartd]

2. what value can they have above the willingness of a rube to buy it?

i don't understand any of this other than unregulated securities scams.

[Stalney]

4. Please don't call people like me rubes.

[rampartd]

5. how any trump coins did you buy?

[Bernardo de La Paz]

6. Rubes buy meme digital coins and Franklin Mint "coins" too. Do you also own Franklin Mint "coins"?

[KS Toronado]

7. Welcome to DU

[JoseBalow]

9. "Rubes" is being generous

If you don't like that, it's all downhill from there

[EarthFirst]

3. All it takes is one large liquidity exit; which is the plan with these meme coins...

…and it will send a cascade of sell orders; i.e. -you better be first; and these will be worthless with lots of bag holders under water…

ProTip: you won’t be first to exit

[Initech]

8. It's literally getting rich off selling nothing.

Selling meme stocks and coins is basically a form of legalized gambling. Someone is getting rich - it's not you. And just like gambling, never, ever bet against the house. The house always wins.

[Polybius]

10. I wonder if anyone here bought it and quickly sold it

Could have made a ton if you bought it several days ago and sold it this morning. Apparently, many did just that. It peaked last night and is way down today. I doubt Trumpers would sell.

[LeftInTX]

11. How would you even cash in?

[Polybius]

12. Very easily

You buy $500 worth at $20 each last week on Coinbase or a similar Crypto currency broker. You wait till last night, and sell when it's $60. Boom, you get $1,500 back. Well, a little less with the fees, but still. After that, you transfer to your bank account for another small fee.

[Johnny2X2X]

13. The entire US treasury now exists to enrich Trump

Might consider buying in as I think he’s going to use the presidency to boost his coin and his media company.