That is correctNobody, once on the blockchain I believe they are irreversible. However, I will defer to Chris on the final word.
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
Here’s one of the better pick and shovel platforms out there.
Wow... so these contracts are irreversible!!! I guess that can be good and bad. Well hope it works out for everyone. Clearly not for me.
BTW... how can one be certain that there is a smart contract connected to the meme coin? Can someone say that there is a smart contract for the meme coin, but not actually have anything in place?
They can say it, but if it’s not published on chain it will quickly come out. Once published, the entire structure of the launch/coin is there for review by analysts
If by chance folks are thinking there are readable terms in a smart contract guess again - there is no legal language or actual agreement. It’s just a bunch of code that executes upon certain conditions. In some cases I think the smart contracts can be terminated or modified. Regardless, good luck to anyone that wants to understand the $TRUMP smart contract (or any others for that matter).
Everything on the blockchain is public (for memes that would likely be SOL or ETH), including white papers and movement of coins.
Sounds like someone is going to end up losing a lot of money and left holding the bag.
Just keep in mind that as far as I can tell Glint Analytics is a company based in Dubai with one employee.
Perhaps… but my point with a lot of this stuff is how can you rely on anything posted on social media? Glint has 84 connections on LinkedIn. It could post just about anything and who is fact checking or validating accuracy?
I don’t follow them, it was the first one I found that a good summary as an example. There’s a dozen of places that have posted about their smart contract, I didn’t need to verify it myself to buy it. No time for all of that in the memecoin world. Not for everyone’s risk tolerance, I know
So it’s like trading Pokémon cards with the understanding that the person who made the cards won’t destroy the scarcity value by flooding the market and pulling the rug. The “understanding” is based on some code which not many people understand and can’t verify, but it exists because we trust the blockchain network. Of course there is no regulations with these tokens, so no legal recourse if things go wrong. Sorry, but someone who is a general skeptic of things, this is too much of a leap of faith. I am sure I am wrong, but maybe in time I will become a fan.
For the most part, you hit the nail on the head. I know folks on this thread don’t believe in meme coins and it’s just largely entertainment with a potential money making twist. But there is a serious problem with our country and society when the POTUS is scheduling a meme coin launch two days before his inauguration followed by the First Lady’s coin, both of which were valued in the billions. For every Portnoy story where he made $1M-$200K=$800K there are people (morons) that lost their life savings. Just doesn’t feel right to me. I love making money and my investments have treated me well, but this **** is crazy.
I don’t think you’re wrong at all, pretty fair assessment for the most part
We are already talking about this on day 1 of 1461… can’t wait for what the future holds. I am buying DJT hands over fist… at least there is some transparency and regulations.
Baron Trump looks like he is somewhat autistic... Do you think he really came up with the ideas that he is credited for?
Seems like he definitely advised/connected on what podcasts Trump went on. Not sure what else beyond that. The crypto related memes have been entertaining though
Majority is interest on their reserve holdings. Some fees on redemptions and general crypto investments make up the rest.
So they have $100b+ in reserve holdings?
Dont they also pay out to tether holders?
$157.6B in total assets. They dont pay out tether holders, they just back tether 1:1 with treasuries and other holdings, allegedly.
so what’s everyone think about this cycle? Is the top in or still hoping for another surge in 2025? Tons of rotation through Dinos, memes, AI, but basically everything is comfortably off the highs besides bitcoin. Haven’t seen that alt season where everything goes nuts.
I don't even know what "this cycle" means anymore. We essentially have the President, his family, Treasury Sec, Commerce Sec, SEC Chair, Crypto Czar, etc. all pumping the market for the next 4 years. And they all have skin in the game. We have never experienced something like this before.
Agree with T2K, not sure how this cycle plays out with all of these new narratives. There’s always a narrative- defi, nft’s, etc so it’s really nothing new. To me the ETF is the thing that I’m most interested to see how it impacts things. Despite alt’s being down their usual 60-80%, we haven’t seen much of the common volatility from Bitcoin.
In many ways we are still very much on track:
Barron likes the web and has become a celeb there - he can be quite celeb himself.
Kai Trump has 3 million followers on TikTok and 1 million on Youtube.
I didn't know her but watched a YT of her hanging with Elon crew for a launch - very nice girl.
Elon has a blast with them
I think the must recent run up was buying the rumor of Trump winning and the US gov't buying large amounts of BTC.
This consolidation imo is the market waiting for the Gov't to actually do that buying.
But if the Gov't does start buying in large quantities I figure the price has to go up. If other gov'ts get in on the action(and I think they will follow our lead) then even moreso.
If it doesn't happen, then I think BTC will tank. Back to $60K maybe.
There are a lot of other Trump/gov catalysts besides buying BTC. Yes, the strategic BTC reserve is probably the biggest, but updating regs and giving the green light to banks will also be huge.
Big talk about SUI's integration into Phantom. Current risk level for SUI at $3 is very low. Hope everyone is buying.
So how does one make money on the trade? Basically a dollar trade?
Or is bought for utility purposes?
Consumer Financial Protect Bureau is gutted and iced.
It was renegade and heavy into spying on bank accounts and finances
It was renegade and heavy into spying on bank accounts and finances
No way to make money on it. Tether and circle’s usdc are the ways you on ramp to crypto. Bank account to usdt/usdc and now your dollars are digital and ready to convert to whatever you like.
I wouldn’t see this as much of a catalyst. Phantom is just a wallet, it’s what it plugs into in terms of apps that makes it.Big talk about SUI's integration into Phantom. Current risk level for SUI at $3 is very low. Hope everyone is buying.
Eta- Polygon has been on phantom for about a year as an example
Skip to chapter 4. Crypto czar and Solana seed investor David Sacks lays out the road map. He’s a big first principles person. Regulatory framework and stablecoin rails are the first steps which he sees happening within 6 months.