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Trump rolls our crypto World Liberty Financial

Akita Suggagaki

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Paulos23

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Akita Suggagaki

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What would I be investing in here? Is there anything tangible this represents? Will it ever be as useful as the money in my wallet?
Of course not.
 
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bèlla

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Trump is the spokesperson for cryptocurrency adoption. Most notably for boomers.

IMG_0750.jpeg
 
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Paulos23

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Well, other companies have dropped bitcoin. Steam accepted it in 2016. They stopped a year and a half later due to high volatility, high transaction fees, and large amounts of fraud. None of those problems have gotten better.

If crypto wants to be accepted, they need to work on making it more usable for the average person.
According to the OP article, TrumpCoin (or whatever it's called) will be a stable coin, meaning that it's pegged to something like USD. So it's not good for speculating; it's mainly, I suppose, good for acting as an intermediary when exchanging between other forms of crypto. Apparently, if you want to trade Coin A for Coin B, it can be somewhat clunky to cash out of A in dollars and then use dollars to buy B, but a stable coin can provide the same lack of volatility as dollars, while removing some of the hassle of trading coins for dollars.

My assumption is that Trump is on board, because he's being handed a bunch of free ones in order to license his name to the venture.
 
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Paulos23

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According to the OP article, TrumpCoin (or whatever it's called) will be a stable coin, meaning that it's pegged to something like USD. So it's not good for speculating; it's mainly, I suppose, good for acting as an intermediary when exchanging between other forms of crypto. Apparently, if you want to trade Coin A for Coin B, it can be somewhat clunky to cash out of A in dollars and then use dollars to buy B, but a stable coin can provide the same lack of volatility as dollars, while removing some of the hassle of trading coins for dollars.

My assumption is that Trump is on board, because he's being handed a bunch of free ones in order to license his name to the venture.
Ah, so it is just another version of the dollar. Without some sort of processing fee, I can't see how would work. It is worse than the dollar.

Sometimes we don't need to reinvent the wheel.
 
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bèlla

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Well, other companies have dropped bitcoin. Steam accepted it in 2016. They stopped a year and a half later due to high volatility, high transaction fees, and large amounts of fraud. None of those problems have gotten better.

If crypto wants to be accepted, they need to work on making it more usable for the average person.

Trump is demonstrating ease and if I can do it you can too. They don't want a stampede at this juncture. They're priming the pump and warming the audience. When they finally address the issue you mentioned the price will be higher.

~bella
 
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