{"id":86800,"date":"2024-11-06T00:14:36","date_gmt":"2024-11-06T00:14:36","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2024\/11\/06\/trumps-coin-is-about-as-revolutionary-as-onecoin\/"},"modified":"2024-11-06T00:14:36","modified_gmt":"2024-11-06T00:14:36","slug":"trumps-coin-is-about-as-revolutionary-as-onecoin","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2024\/11\/06\/trumps-coin-is-about-as-revolutionary-as-onecoin\/","title":{"rendered":"Trump\u2019s Coin Is About As Revolutionary As OneCoin"},"content":{"rendered":"


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Follow Aaron on <\/em>Nostr<\/a> or <\/em>X<\/a>.<\/em><\/figcaption><\/figure>\n

After these classy\u00a0gold sneakers<\/a> and his\u00a0God Bless the USA Bible<\/a>, Donald Trump\u2019s cryptocurrency World Liberty Financial (WLFI) immediately appeared to me like yet another way to squeeze some more money out of his fanbase. But when YouTuber Coffeezilla analyzed the project in more detail, what he found was even more ridiculous than what I was expecting.<\/p>\n

For starters (though unsurprisingly), WLFI is completely pre-mined. 20 billion coins, which represent 35% of the total supply, are being sold for $0.015 each. The other 65% of coins is allocated to protocol development and insiders.<\/p>\n

This means they value the WLFI project around $900 million, immediately bringing it into the same ballpark as something like Bitcoin SV (perhaps fittingly). In reality, however, less than 1 billion coins have been sold so far, making it closer to a $14 million market cap coin, more similar to projects like Pikaboss or Boba Oppa\u2014 I\u2019d never heard of them either.<\/p>\n

It\u2019s equally unsurprising that WLFI doesn\u2019t accomplish anything new or interesting (lending and borrowing on the existing Aave protocol), or that it’s not decentralized in any meaningful way, or that one of the project\u2019s cofounders has a dodgy history<\/a> in this space already.<\/p>\n

But what even I didn\u2019t expect, is that WLFI is indefinitely non-transferable. That\u2019s right, for the time being, at least, you can\u2019t send these coins to anyone. You can just buy them, and, I guess, sell them back later? Maybe? This sounds more like\u00a0OneCoin<\/a> \u2014 the notorious fraud that was a cryptocurrency in name only \u2014 than any serious altcoin I\u2019ve ever heard of.<\/p>\n

While\u00a0Nikolaus<\/a> and\u00a0Calli<\/a> believe the former president truly embraced Bitcoin, I don\u2019t think he actually changed his mind on cryptocurrency much at all since\u00a0three years ago<\/a>\u2026 I think he just wants in on the scam.<\/p>\n

Watch the full Coffeezilla episode here:<\/em><\/p>\n

This article is a <\/em>Take<\/a><\/em>. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Follow Aaron on Nostr or X. After these classy\u00a0gold sneakers and his\u00a0God Bless the USA Bible, Donald Trump\u2019s cryptocurrency World Liberty Financial (WLFI) immediately appeared<\/p>\n","protected":false},"author":1,"featured_media":86801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[151],"tags":[],"class_list":["post-86800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/86800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/comments?post=86800"}],"version-history":[{"count":0,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/86800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media\/86801"}],"wp:attachment":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media?parent=86800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/categories?post=86800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/tags?post=86800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}