Topic: Trump selling his own token, is it a joke? (Read 515 times)

I think they mean “Rugpull-paper” instead of “Gold-paper.” 

I read about the WLFI token a few days ago when an influencer was promoting it, and I actually read the document you shared.

I didn’t give the Trump project any importance after the part about the 75% that will be distributed to his family. Additionally, what was mentioned in the next screenshot about the expected amounts of tokens being subject to change, along with all the tokens being locked and non-transferable, means that anyone who holds unlocked tokens can sell everything he has.



The document contains legal disclaimers and information about the risks. Anyone buying these tokens doesn’t know much about cryptocurrencies and deserves what happens to him. How can this man be a friend of cryptocurrencies and launch a project like this that may deceive his supporters and crypto enthusiasts with such reckless and ridiculous behavior?

Trump is already a convicted criminal and he will go to prison if he doesn't win.

And he knows that if he wins, there will be no more court cases against him or his family, ever.

We have more info about this and i am guessing no one is surprised how much of a scam it is.

https://static.worldlibertyfinancial.com/docs/us/gold-paper.pdf

This is stupid on so many level that i can't even... I have seen obvious scam icos that are more credible then this.

Trump family makes 75% of the revenue and apparently they are claiming that they have no liability on this. (or that's what they are trying to pull off). I would like to see them trying if that holds up in court when they finally pull the rug, because they are the primary beneficiary in this. Maybe they have ordered new layer from Temu, as this is just weak.

If Kamala's family would do something like this, it would give material for maga-hats for years to come, on how much of a scam this is. And how they are trying to destroy the credibility of crypto. But i guess he know that his base is the most gullible people who could fall for this.

You can't make this up:



How is this scam good for crypto again?

Correct, Trump is not authentic when comes to supporting Bitcoin and cryptocurrencies in general, he has just found some way to continue to make money off the people who support him politically. He is aware this is the moment of his life when he has the highest level of public attention and it is very likely he won't be able to grift his supporters further after the election because he will be very busy being the president or he will be ousted ad the de facto leader of the Republican party for losing the election.
One must wonder how much of this token he actually has in his possession and whether he would be willing to dump his stake in this project and take the money invested by his supporters. It is not the kind of play I would expect from an alledged billionaire to take, but it is what it is...

I am going to ignore this project in terms of investing in it and only follow it to see how much time it takes Trump to screw his followers over .

Notice that the project is  mainly championed by the majority who are members of his family including Trump himself who's the chief advocate of the project and his sons serving as both the web 3 ambassador and Defi visionary. It shows that it's a family idea that's all for raising funds that would be used during and after the election and this also is another means of getting those in the crypto ecosystem all hucked into assuming he's positive on Bitcoin which can go a long way in getting voters from this niche.

His name and the range of time this project has come up has successfully given the token the needed hype. But then, this is why it's just an alt. When certainly Pump as long as the hype last which obviously wouldn't last longer past the election depending on the outcome of the election and his interest in the project afterwards. The idea of buying should just be a way of supporting trump if you're one that believes in his vision but anything more than that would be risking it all.

As I saw on AltcoinTalk, this token cannot be sold at the moment, being a governance token of sorts, so I am pretty skeptical about this whole ordeal of his.
Source: Post on reddit about this.

He's businessman for some reason and with those actions he do then we can say that he take advantage on everything especially his possible adaption with bitcoin since it gather a lot of noise for him.

That's why he provably see that there's huge opportunity that he could able to earn money thru the hype he created this season. I will be more careful dealing with this coin knowing that we don't know if there's something good to happen with them. I'm afraid that they would just manipulate the market of that token and earn lots of money from this project. Yes its obvious publicity stunt since he provably want to give an idea to people that he has a token created so for sure they can trust their votes especially he say that he want to make USA bitcoin friendly which is beneficial to all crypto users. But its seems everything is hard to believe on those matters since its people are still skeptical if their intention to this coin is pure.

Trump is striking it while the iron is hot; this is by far the biggest news on Trump supporting Bitcoin and cryptocurrency; they are looking to raise $300 million, and if successful, it will reflect the community's support for Trump's cause.
Many will look at this as another publicity stunt to gain votes from the cryptocurrency community all over the world, but what else is new on Trump, who is proven to be one of the best salesman. He is selling himself to the voters, and he will do everything that will gain him mileage over his opponent, and I think he is doing great.

Trump has been indicted on over 150 criminal counts and has been convicted on dozens of them--and winning the presidency will make it so he never sees the inside of a prison cell. What does that tell you? That he isn't going to be hindered by fear of.. "lawsuits" . By electing a convicted criminal, Americans will be formally stating that presidents in the US exist above the law, and can do anything they want.

Also, Trump will have absolute control of Congress if he wins (most likely, based on the numbers going his way), which means that he can even do a lot within the confines of the legal structure since he can basically pass whatever law he wants.

Of course all of this will require a lot of clever doings by somebody in Trump's orbit, which, even with $trillions in potential payoff may be too complicated for them to pull off. But if somebody in Trump's orbit figures this out, then Trump could easily be the world's first trillionaire based on this alone.

So Trump and his coin doesn't need care what "half of the country thinks" because with the proper intervention by the US government it won't matter what they think--they will be forced to accept what the government gives them.

"Experienced crypto players" will need to listen to experienced... students of world history. If a dictator takes over the country, you bet on that dictator's personal economic interests to thrive as long as said dictator is in power...

You make a strong case to buy at least some asap. As far as competing with Bitcoin - not so certain there. Many people, even in the US, either do not like Trump and/or they know he is "just a businessman." His influence, can allow them to operate without too much fear of the SEC, but it doesn't instantly make experienced crypto players see long-term value. Also, in that scenario the door is wide open for other projects to flourish too. If he plays the favorite too much, Trump will end up with even more pending court cases against his Orange Empire.

Trump Is a business man and for any business man, whatever can bring in the cash flow is always a welcome development a d token creation is quite a good way to generate money, and not give anything other than speculation to investors and still be fine, this is why there have been several scam on the altcoin market lately, anyone can just wake up and create their own coin without any tangible utility for the token.

I don't also think Donald Trump have any direct link with this token, because it he should he could have push further to see at least some level of success before selling off as mentioned in the ops.

If he loses, then the project will be worthless and Trump himself will be in prison.

If he wins, his token could easily surpass Bitcoin in worth since it will have the defacto full backing of the US federal government. As I've said before, Trump winning will be as if the CPC created a Bitcoin competitor--except that the US is 100x more influential than China is in this regard (viz. most major Bitcoin holders are American, etc.).

Sounds like an arbitrage opportunity to me . I mean, if you can buy some before the election, it could be a 1:1000 bet for a 50/50 chance at the desired outcome.

This is the classic pvp that currently goes on in majority of the chains at the moment especially now that memecoins are all the rage. They say it's a fair launch and an open economy but it's technically just a pvp environment where people try to outbid each other in order to get in an a much better price and then there's always a race to sell when the price reaches certain price level.

It's exactly what Trump is building — a memecoin project under the disguise of it being an open DeFi project.

The project will have many concerns about US investors if Trump loses the election. As a winner, he will be in a great spot to make certain the US is more tolerant of DeFi and new tokens.

HE didn't deploy anything. Only think he and his family has to do with this is that they "Support" it. Meaning that they are trying to pump it with trump brand and getting paid for it. They are in this for pure profit, and i am assuming that's mosly to cover his legal bills.

Let's unpack this shall we:

Well that's just a lie. He did enrich himself and his family for it though.

You can't lump ex-presidents together "because they all lie". There's a difference between sneezing once and having a flu.

Nope. Born in rich family and got $413M from his dad. How is that self made? That's DEI millionaire.
¨
We have very different standards for a good man. Maybe read what he is convicted for.

Yes, and that reason is grifting. Also you must do realize that this has as much to do with trump as his nfts, which is just using his name to grift money from uneducated people who want to be rich. So ironically it's his own base they are grifting and i am all for it.

This is like an grifting 101 episode of community, but instead of suitcases, there are crypto tokens and main grifter lacks charisma.

Bitcoin is generally authorized and legalized in the United States, you do know that? Donald Trump was the ex president for the United States of America, his regime was smoothly and strictly structured for the development of his country, although he does possess his flaws, all current and ex presidents exhibits that feature. Trump is already self-made, he's successful and consider to be on the lists for world most powerful people, we all know the kind of man he is, very aggressive when it comes to his rules been breaches, he doesn't hesitates to punish offenders. Although he's a good man, apart from his roughly harsh comments on Twitter often, Trump has his own reasons for creating his own native coin in the crypto space. He has purpose for actually indulging in crypto activities, but one thing is for sure, whatever reason he has, it already linked to the upcoming US 2024 presidential election.

While there could be some real impact for the POTUS if ever he's elected but we've seen that when he was in the seat. The matter has changed a lot and depending on the global action and his decisions to stop all of these wars and befriend with all of those involved to the root cause of why things have increased in prices. So, going with the relation of his presidency, we just can't be sure if he'd surely win there because looks like there's also a bump with Kamala Harris' race too.

I don't mind whether Trump sell all of his shitcoins or BTCs, I think that article makers are just trying to make some way for these incidents to relate it to the market. While the sole focus of this guy is his race as well, we'll just see what we have to see and react when the time has come of his reign again if ever he'll win because many are believing that he's not going to win and it's Kamala. As for me, I don't mind whoever wins between the two but I just remembered I've placed a bet for Trump but that's just a small buck so I don't mind if he wins or lose.

to be fair he also deployed a defi in the blockchain, i guess he will fully take advantage of the crypto hype as well, seeing from the example coming from VC making some random token that's worth billion in short time.
so since he has already getting into crypto, might as well shoot two bird with one stone.
but I wonder the legal implication with this, so far I've rarely seen a token sale from the U.S , we all know how strict they are with this kind of thing so most of project just avoid them.
even metamask and base blockchain don't release token because of this exact reason.

This was the part what insults? Not the crimes and being a new poster mascot for crypto?

There was never any question in my mind if he cared about anything but enriching himself and occasional praise he gets from crypto bros.
Everyone saw just from his actions and speech that he doesn't understand even basics of cryptocurrencies. Nfts weren't his project, he was just a mascot for them. He hasn't paid anything with bitcoin either, unlike those made up headlines said.

I am actually glad this happens in such humiliating way, as nothing triggers bitcoiners more then shitcoins that are obvious cash grab and scam. Now everyone can see the emperor's new clothes and no one can close their eyes from this. This is even worse idea than NFTs if possible, because at least NFTs you can understand jokingly. This is just a scam that doesn't bring anything new to crypto.

He is not creating a token, this is just a project that names him on their supporters basically. I tried to find where he helped them or supported them, I am sure coindesk isn't lying about it, of course if they say he did support them, but looking everywhere, I couldn't find a place where he did, probably tweeted something once upon a time?

I mean he is on campaign so I can't find when and how he supported this project. But at the end, he doesn't sell his own token, there are other people working on this, who probably paid him a good chunk of money to tweet about their project and that's how they got his approval. The project has 150k followers on twitter, which is very little for a trump supported project, feels a little off.

Several people have mentioned "businessman", family interests, and "making money." I didn't notice anyone yet pointing out the obvious fact Trump needs a Ton of Money to pay his legal bills and fines.

Just like you already laid out the question, was it really necessary for him to create his own token, no it wasn't, but what is the reason why he created the token? As a US President, I doubt if the reason why he created that token was to defraud people of their money just like so many altcoins will do. I strongly believe that he has his own reasons why the token was designed. I was wondering if it's to enrich himself or actually identify those that are fully into crypto, after which they will be identified and the amount of Bitcoin they own.

To be honest if he really support crypto he doesn't need to create any token since creating a law towards its adaption is enough.

By creating this token its like he's taking advantage on the hype he created and maybe they projected to earn millions of dollars that's why they push to have those pre sale phase. I don't know what will happen after it so hopefully we don't see any bad effect brought up by the token he created.

Will not buy this token but want to follow the updates on their project.

Trump thinks of his ass first and if there is an opportunity to exploit and cash in on the current popularity, he will certainly do it. If he had any intention to really do something useful, he would have joined a development program and not another shit token.
The paradox is that there are still a large number of those who see him positively in the crypto ecosystem.

And check this out.

Very strong choice of people running the show.

I guess it is not exactly necessary especially he does not seem to be credible enough to release a token but just like anyone else he can create his own token and release it. It is up to us investors to ask the question to ourselves. Will it be necessary to buy his token? I guess if you want to earn then you can even though I doubt it will have any real-world use case at all. I don't know if he will integrate this token in the government if he wins. To me this just seems like a publicity stunt and a cash grab.
It would seem contradicting, honestly. Why not just use bitcoin if he believes in it so much? I hope the time where he endorses his token to be the better cryptocurrency compared to bitcoin never comes.

This is one of the best times to sell the token, considering that he will be using his popularity as an added advantage. Donald Trump is a business man that understands times and seasons, so asking if it's necessary for him to create his own token is like saying a business man shouldn't invest when sees an opportunity to.  Of course if he wins the Presidential race, both his token and Bitcoin will experience positive impact. Donald Trump is a politician that knows his onion, he knows what his audience wants to hear, so let's be mindful how we help propagate some of this his ideas, it's election season so we shouldn't be surprised to read some of this information on newsflash.

It seems to me that this token has nothing to do with Trump.

From the last report I read on this news, Donald Trump has sons that intend to launch their own coin, hence why he is a big supporter of cryptocurrency, am not particularly sure if his interest in cryptocurrency involves a major stake in owning BTC, but if his sons were to launch their own coins and Trump is in support of BTC and crypto currency in general, then it is not a joke that he is selling his crypto currency just to show that he has some and that he is a big supporter of cryptocurrency.

Not really no. Pretty sure back then a few years back he even made his own NFTs when it was peak NFT season-ish? Pretty sure it was on the news but nothing really came about it. Just news about it lol. I'd reckon the same would happen here.

And honestly, regardless of the stance Trump or Harris have, I am pretty sure Bitcoin would still continue on its own pace. Pretty sure in the first place Trump is just fishing for votes with his so-called support for Bitcoin. After the election it's just going to go whoosh. And to be fair, if he really was pro-Bitcoin he wouldn't make his own shitcoin.

That sounds more like a support for the scam market where scammers create completely useless tokens and sell it to any "gamblers" who would buy that junk hoping its price would rise and make them a tiny bit richer

No, it's not a joke, and I never consider anything relates to money is a joke. Your money is real, and you can spend it to get more from profit, or spend it for bad investment and lose most or all of it.

If this attempt helps Trump to collect more money for his Presidential campaign, it's real success for him, not a joke. It's not joke at start and at the end too.

This thinking can be true or not true, but even Trump as a President can bring positive effects to Bitcoin market, it is only short term, only four years for him to do this. Bitcoin adoption is like a Snowball that can not be stopped because after 15 years since 2009, now it is strong enough for name calling it as a Snowball.

After a next Presidency with either Trump or Harris as a President, Bitcoin will continue its growth.

Bitcoin is not dead and will not die next four years.
Will Kamala Harris or Donald Trump succeed to kill Bitcoin market?
They won't.
https://99bitcoins.com/bitcoin-obituaries/
https://buybitcoinworldwide.com/bitcoin-is-dead/
https://www.bitcoindeaths.com/

This is an insult to the intelligence of the Bitcoin community. It turns out his concern and interest in Bitcoin weren’t genuine. If he truly cared, he would’ve done thorough research and understood how the community feels about the president pushing a shitcoin. Wrong timing. He thought he was making a smart move, but it’ll only disappoint Bitcoin investors.

Trump should know: “Ain’t no coin like a Bitcoin party.” 

https://www.forbes.com/sites/maryroeloffs/2024/08/27/trump-selling-more-nft-trading-cards-as-he-courts-crypto-voters/

I don't see a correlation between Trump selling his shit tokens and the Bitcoin community. He has ever done it in the past by selling his crappy NFT that was made by a 10-year-old designer. Yet, he's at it again. He's selling a lousy token to raise $300 million. He hopes to make his WLFI worth $1.5 billion.

And i was wondering who's gonna buy this shit token. I think this can be one of the biggest rug pull token by him. But, this belongs to the altcoin section considering it has nothing to do with BTC.

Don't fall into this.

And I'm totally sure even without looking that your country would lose by any 100 indicators when compared to the US, be it education, GDP, poverty, or access to anything. Am I right?


Trump's stance on Bitcoin is that he can get votes by faking he is interested in it, in reality, all that he cares about is power and money, and since he can't make money easily with Bitcoin he does what every single summer or pump and dumpers did since 2013 and that's creating his own token and selling it to gullible fools that think they will become rich from it!

People should aware that the real WLFI is this one https://www.worldlibertyfinancial.com/

Not https://wlfi.club/ or https://worldlibertycto.vip/ because this two projects are listed on Coinmarketcap.

If Trump created his own token instead of adopting Bitcoin, he's not really a Bitcoiner. Yeah he not have to be a Bitcoin maximalist, but creating own token for the sake of money seems not like a genuine person who want to support the countries, instead it's for personal beneift.

Yes, that is correct: if Trump wins in November than the US president will be competing directly with Bitcoin in the marketplace.

Trump will have absolute control over the US government if he wins, as the Congress will (presumably) have a Republican majority, and Trump has demonstrated absolute control over the Republican party in the last four years to the point where he has kicked every single Republican who voted to impeach him out of the party. In other words, people should not imagine Trump will be constrained by Congress (and all you have to do is flip over to the P&S forum here to see that his supporters absolutely don't want him to be).

As such, Bitcoin operating in the US will be akin to western products operating in China that compete with those owned by the CPC: the government will have a vested interest Bitcoin's denigration in order to prop up the preferred product, in this case Trump's coin.

Indeed, if Trump wins, the most astute thing the Bitcoin community could do would be to simply give Trump (himself, personally) perhaps 25% of Bitcoin so he won't have a vested interest in killing it. If they do that, then Trump could well do the opposite and make every other crypto illegal and only allow Bitcoin. Short of something like that, however, I suspect Trump's currency will surpass Bitcoin and all of the others in value if he wins. With the full power of the US government behind it, there would be no stopping Trump's coin.

The token in question and its idea are entirely not Trump. I believe those are just some developments and suggestions from those who are close to him as a means of raising funds for his campaign, and as a public figure that he is, he is not even supposed to go into such a project that will lead to launching a coin because his influence on those that blindly follow him can push them to invest heavily in the coin, and the outcome might not end positively.
 
And why do they schedule the token sales to be before the election? I can only think of two reasons: if he doesn't win the election, there won't be more people interested in buying the token again, and if, on the other hand, he wins the election, the token will skyrocket to the top, giving them a chance to dump a significant amount of the token at a good price.

Donald Trump promised that if he became President again he wouldn't sell any Bitcoin that the US government owns. He made mention of making of buying more Bitcoin for the government and making the US the crypto capital of the world. By the the announcement of this public sale of this token we are gradually seeing what he means by making the US the crypto hub.
 
I guess that the Trump family sees the crypto industry as a means of making more money. If he becomes president, more shitcoin projects will be developed and his family and friends will spearhead them and make enormous profits. Bitcoin is the leader of the crypto industry, so his positive view of the industry might also have a positive effect on Bitcoin. But we should make it clear that Trump doesn't have a genuine love for Bitcoin but for what he would gain through it.  

https://www.coindesk.com/business/2024/10/11/trump-supported-world-liberty-financial-will-start-public-token-sale-next-week/

Creating his token is not a new news and has nothing to do with Bitcoin.

https://www.certik.com/resources/blog/3SMOuGMCSttY4pQW6I49W2-dough-finance-incident-analysis

These are the spearheaders of the project.
Well I know individuals that invest in this Scam are going to loss their money
Maybe it would make Bitcoin become more attractive in their eyes.

Personally Trump or Harris?
I just pity the US.

Maybe he is thinking to go all-in on Bitcoin and disposed all shitcoins?

We all knew from the start that everything is just a political ploy to boost his reputation among crypto user. Crypto community is know for easy to hype due to FOMO which is why it’s the easiest target if you want to make some noise due to the social media power for promotion nowadays.

Trump is a double edge sword for Bitcoin. I don’t have any problem with him if he will not oppose to Bitcoin adaptation in the US if he won. Idc if he is not a holder since Bitcoin should be decentralized and not focused to few individual.

Right from when I first read the news about Trump being the first US president to use Bitcoin to pay for something I just knew that it was all a political stunt. Did you watch the video? He didn’t even do shit - no offense but all he wants is the support of the bitcoin community and even if he wants to work or do anything in the crypto space he won’t do it through bitcoin directly he’ll definitely creates his own token to do it.

Trump is a businessman and so it shouldn’t surprise us to see something like this - even his son Trump Jr is seen promoting memes token on X (formerly known as Twitter) so this shouldn’t be any different from that. It’s just a businessman trying to do business.

The token name is WLFI, which is open to everyone who qualifies through a whitelist. I know some are optimistic about Trump because of his positive stance on Bitcoin, but is it really necessary for him to create his own token? This discussion isn’t specifically about his token but more about the potential impact on the Bitcoin community. Many trust that if Trump wins, it could bring a positive effect to the Bitcoin space. What are your thoughts on this?

The news ----
https://www.coindesk.com/business/2024/10/11/trump-supported-world-liberty-financial-will-start-public-token-sale-next-week/