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> Hey, I bought $1,000,000,000 $TRUMP coin, can you ease up on $RegulationImpactingMe?
> Regulations are official actions, so sure I can take a look-see.
Interesting... are you able to expand on this? My understanding is that the $TRUMP coin runs on Solana, which similar to Bitcoin runs on a public ledger and therefore offers limited anonymization (basically none).
Anyone is free to make an "investment," there is no disclosure requirement, and an accusation of bribery (even if one could be made legally against a sitting president, which SCOTUS tells us it cannot) would require a provable quid-pro-quo.
and when transferred in a way that would otherwise require a disclosure to a politician or campaign, the crypto asset and transaction would also require a disclosure
if there are other benefits that the crypto world is superior at, then thanks for describing a use case and value proposition relevant on a geopolitical scale to the largest nations on the planet. a lot of people here cant imagine any because they arent the target audience
Not in a legal sense. In the US, donations to politicians and campaigns are tightly regulated. Foreign entities aren't allowed to donate. Donations have to be reported, are subject to limitations, etc.
In crypto, none of that applies. Anyone, anywhere in the world, can invest essentially unlimited funds into a memecoin. It's not technically a donation because you're buying something, and it's not technically going to Trump, because you're buying from some pseudonymous entity on the blockchain. Nevertheless, the money goes to Trump. It's an ideal venue for laundering bribes.
In contrast, any foreign party can purchase $TRUMP.
Sure, good luck enforcing that. Although crypto isn't anonymous, it is pseudonymous. In any case, you aren't subject to the same taxes as a traditional gift about $20000 and you aren't subject to the same regulation as campaign contributions.
> and when transferred in a way that would otherwise require a disclosure to a politician or campaign, the crypto asset and transaction would also require a disclosure
That's the beauty of the grift. "Investing in $TRUMP" isn't a transfer to a politician or a campaign: it's a purchase of a memecoin on a public blockchain. It's a way to give money to Trump without meeting the legal definition of "giving money to Trump."
> if there are other benefits that the crypto world is superior at, then thanks for describing a use case and value proposition relevant on a geopolitical scale to the largest nations on the planet. a lot of people here cant imagine any because they arent the target audience
I don't know what you're trying to say here. I think I just explained a pretty use case for crypto as a means to buy political favor. Other benefits of crypto include: (a) purchasing illegal goods, (b) defrauding naive consumers.
and the $DJT stock is already doing this as well
What you’re pointing out is just not a unique aspect of crypto or that interesting in the Trump portfolio of “things vulnerable to being used as kickbacks in a currently legal way”
Sure, but it's a matter of scale. It's difficult to rent a billion dollars worth of hotel rooms.
> and the $DJT stock is already doing this as well
Yep, that's another scam.
> What you’re pointing out is just not a unique aspect of crypto
Yes and no. Crypto offers a uniquely unregulated and perhaps unregulatable means for malfeasance. NASDAQ tickers are tame in comparison.
Fwiw, the moral of the story is not "all crypto is evil" but rather "crypto should be regulated like any other instrument in order to prevent fraud" and perhaps as a corollary "sitting presidents shouldn't be issuing their own meme coin."
Sure they are, but they should explain why they changed their minds. In the case of meme coins like $TRUMP, it's hard to defend crypto as an investment or as a currency, which leaves the obvious reason: it's a scam.
In the case of Trump, I'm sure he was all for crypto as soon as he realized that he personally could make money from it. Same goes for his NFT grift.