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OT - please explain it of me like I'm 5

greenbean.sixpack

greenbean.sixpack

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Oct 6, 2012
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What is a meme coin and why would anyone buy it? Is it like the NFT scam from a few years back?

Are folks buying it just because they want to support DJT?

Do people think they'll make money on it (other than the folks who issue it)?
 
GloryDawg

GloryDawg

Heisman
Mar 3, 2005
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It's just a coin with his likeness. Yes, many have been produced with different things. Some take off in value and some don't. It's worth a gamble because they start off real cheap. Some buy for collecting and some buy for speculative. You hope a lot of people buy for collecting. I have never bought any. I would probably lose them. I have bought Lego's Sailing Ships and keeping them. Once Lego retired the set the price of them go way up. The first one made back in the 80's is worth 3 to 4 thousand dollars. In fact it might be worth looking at you kids old Lego's. Some of those things are worth some bucks.
 
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WilCoDawg

WilCoDawg

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Sep 6, 2012
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This crap is weird to buy and I don’t understand any of it. It’s an odd thing to worship a politician the way some do. But don’t be ignorant and think he started this crap. You weren’t paying attention when Obama was president if you do. I imagine JFK had his own fanboys that was at an odd level back in the day.
 
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greenbean.sixpack

greenbean.sixpack

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Oct 6, 2012
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GloryDawg said:
It's just a coin with his likeness. Yes, many have been produced with different things. Some take off in value and some don't. It's worth a gamble because they start off real cheap. Some buy for collecting and some buy for speculative. You hope a lot of people buy for collecting. I have never bought any. I would probably lose them. I have bought Lego's Sailing Ships and keeping them. Once Lego retired the set the price of them go way up. The first one made back in the 80's is worth 3 to 4 thousand dollars. In fact it might be worth looking at you kids old Lego's. Some of those things are worth some bucks.
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So, it is a physical asset? Like a challenge or commanders coin in the military?
 
FormerBully

FormerBully

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Sep 2, 2022
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greenbean.sixpack said:
What is a meme coin and why would anyone buy it? Is it like the NFT scam from a few years back?

Are folks buying it just because they want to support DJT?

Do people think they'll make money on it (other than the folks who issue it)?
Click to expand...
It is a digital currency. The issue is only 10% is available to public. It is a classic pump and dumb scam. I recommend following coffeezilla and watch his video.
 
G

garddog

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Dec 10, 2008
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It is digital currency. The block chains are used to host other programs, games, etc. So they generate income from that. They also act as a worldwide currency exchange. If a company in the US buys materials from another company in Malaysia. They can transfer the funds through different coins in under a second. It speeds up transactions and gets things moving faster.

Stick with the established coins and if you buy meme, just be aware they are not stable.
 
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Maroon13

Maroon13

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How is this commemorative coin any different that any other commemorative coin that was hawked over tv over the years? Those weren't free.

I can remember a Ronald Reagan coin. Obama coin. Etc etc.
 
horshack.sixpack

horshack.sixpack

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Oct 30, 2012
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Correct. My grandfather bought a watergate bug that is still worth the one ounce of silver it was minted with. Opportunistic money making is not new.

1737233375546.jpeg
 
Dawgbite

Dawgbite

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Nov 1, 2011
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Do you remember buying a ticket to get on an airplane and the next person bumped you up and you made money until you worked your way all the way to captain? It’s kinda like that but with computers.
 
FormerBully

FormerBully

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Maroon13 said:
How is this commemorative coin any different that any other commemorative coin that was hawked over tv over the years? Those weren't free.

I can remember a Ronald Reagan coin. Obama coin. Etc etc.
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This is similar but very different. Trumps team/someone owns 80%, they only have 10% for the public. People are buying shares over $1,000 to $50,000 thinking they are going to make good money, but the 80% will soon sell and the value goes to pennies. Pump and dump. So nothing like that. People, mostly maga group, will loses millions.
 
mstateglfr

mstateglfr

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Feb 24, 2008
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Maroon13 said:
How is this commemorative coin any different that any other commemorative coin that was hawked over tv over the years? Those weren't free.

I can remember a Ronald Reagan coin. Obama coin. Etc etc.
Click to expand...
If those older coins were made from a valuable metal, then the coins were worth at least whatever the metal is worth.

Digital meme coins though? I mean they literally have 'meme' in the term. There is no value beyond the speculative value based on how much interest they can generate.


Those scenarios seem very different.
 
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Maroon13

Maroon13

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mstateglfr said:
If those older coins were made from a valuable metal, then the coins were worth at least whatever the metal is worth.

Digital meme coins though? I mean they literally have 'meme' in the term. There is no value beyond the speculative value based on how much interest they can generate.


Those scenarios seem very different.
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....and anyone with any sense knows a meme coin is worthless.

Monday and the next 4 years are going to be very difficult for some people. Ha.
 
mstateglfr

mstateglfr

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Maroon13 said:
....and anyone with any sense knows a meme coin is worthless.

Monday and the next 4 years are going to be very difficult for some people. Ha.
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You asked how a meme coin is any different from commemorative Presidential precious metals coins of yesteryear.
I answered.


If the latest meme coin is worthless, as you say, that is a lot of worthlessness.
 
greenbean.sixpack

greenbean.sixpack

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Oct 6, 2012
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FormerBully said:
This is similar but very different. Trumps team/someone owns 80%, they only have 10% for the public. People are buying shares over $1,000 to $50,000 thinking they are going to make good money, but the 80% will soon sell and the value goes to pennies. Pump and dump. So nothing like that. People, mostly maga group, will loses millions.
Click to expand...
Anyone who loses money on this, or any other such tomfoolery, deserves no pity.
 
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FormerBully

FormerBully

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Sep 2, 2022
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My dad has said it best, Trump just needs to stay off social and focus on being president. All this other stuff is just make him come off as a snake oil salesman. My favorite story so far is that the Greenland people wearing MAGA gear where homeless people that they have a meal too. Ha
 
A

anon1758050382

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Oct 6, 2022
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The best explanation for why a guy like Trump would launch a meme coin (and why someone would buy it):



I linked to the specific 4-minute segment.

"He has billions of dollars, but he’s ******* miserable because he needs 100 billion to look in the mirror and not want to kill himself."

It's interesting because this aired on the radio in 2011 (before Trump was a serious presidential candidate and meme coins existed), but it is still relevant 14 years later, during his second inauguration.
 
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NukeDogg

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Mar 15, 2022
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Is this also the same thing that everyone got mad at the Hawk Tuah girl for doing? Some kind of crypto coin?
 
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