ndeet on Nostr: $TRUMP shows again why crypto bros and NFT scammers are the worst. They don't care ...
$TRUMP shows again why crypto bros and NFT scammers are the worst. They don't care about freedom money or decentralization. It's just about gains and power.
Prime example is David Bailey, he may be a Bitcon OG with lots of corn but I have the impression he does not care about Bitcoin beyond number go up and power. He peddles NFT scams and invests in companies actively undermining Bitcoin as a monetary network. He (imho) became Trump advisor only for the hope of raising to new power circles.
Even if we assume his goal was primarily for Bitcoin adoption, he has weak principles. He obviously was not able to communicate a clear distinction between Bitcoin and crypto. Other, more crypto focused lobbyists won and he can just pray that Trump won't also add shitcoins to the strategic reserve
So his Bitcoin strategy lobbying backfired badly if the new president can't distinguish scams from the best money ever existed. It's even worse, he now issues memecoins on centralized shitcoins. The distinction between Bitcoin and crypto will get even more blurry over the coming years. Memecoins are even worse than all those ICO and IEO scams which at least put in some work to create a whitepaper and creatively think about complex ways to hide their scam in blindsight. Memcoins on centralized shitcoins are as fiat and scammy as it can get. Disgusting and it is offcially endorsed now. Let the scam waves rug millions of noobs.
You could argue that this is the free market and the market will fix it. I agree and it will but it will take many years. Maybe without it we would be better off and Trump still would not care about crypto.
Point is, his lobbying may just put more fuel into the fire. Did he open the channels to Trump (and let the shitcoiners in) or did shitcoiners already have connections before him? No idea.
Even if he was key part in making the Bitcoin reserve a reality - I would have hoped this to happen much later and many more plebs be able to front run the big money. The window is closing fast anyway but SBR would accelerate that.
If you think "Trump shitcoining is way better than Democrats and Chokepoint 2.0" - I tend to agree but on the other hand it would also force us to use Bitcoin in the way it was intended to and built an even more decentraliced parallel system to the current one.
To finish with some positive thoughts:
- maybe without him only shitcoiners would influence Trump and it would be even worse
- in the long run Bitcoin will still win, just takes a few years more for people get rekt by shitcoins over and over and over
- greed of people to make massive gains quickly will likely never and and therefore shitcoinery will never end so it was inevitable anyway
Let's keep working on the Bitcoin ecosystem we want to see and use ourselves.
Prime example is David Bailey, he may be a Bitcon OG with lots of corn but I have the impression he does not care about Bitcoin beyond number go up and power. He peddles NFT scams and invests in companies actively undermining Bitcoin as a monetary network. He (imho) became Trump advisor only for the hope of raising to new power circles.
Even if we assume his goal was primarily for Bitcoin adoption, he has weak principles. He obviously was not able to communicate a clear distinction between Bitcoin and crypto. Other, more crypto focused lobbyists won and he can just pray that Trump won't also add shitcoins to the strategic reserve
So his Bitcoin strategy lobbying backfired badly if the new president can't distinguish scams from the best money ever existed. It's even worse, he now issues memecoins on centralized shitcoins. The distinction between Bitcoin and crypto will get even more blurry over the coming years. Memecoins are even worse than all those ICO and IEO scams which at least put in some work to create a whitepaper and creatively think about complex ways to hide their scam in blindsight. Memcoins on centralized shitcoins are as fiat and scammy as it can get. Disgusting and it is offcially endorsed now. Let the scam waves rug millions of noobs.
You could argue that this is the free market and the market will fix it. I agree and it will but it will take many years. Maybe without it we would be better off and Trump still would not care about crypto.
Point is, his lobbying may just put more fuel into the fire. Did he open the channels to Trump (and let the shitcoiners in) or did shitcoiners already have connections before him? No idea.
Even if he was key part in making the Bitcoin reserve a reality - I would have hoped this to happen much later and many more plebs be able to front run the big money. The window is closing fast anyway but SBR would accelerate that.
If you think "Trump shitcoining is way better than Democrats and Chokepoint 2.0" - I tend to agree but on the other hand it would also force us to use Bitcoin in the way it was intended to and built an even more decentraliced parallel system to the current one.
To finish with some positive thoughts:
- maybe without him only shitcoiners would influence Trump and it would be even worse
- in the long run Bitcoin will still win, just takes a few years more for people get rekt by shitcoins over and over and over
- greed of people to make massive gains quickly will likely never and and therefore shitcoinery will never end so it was inevitable anyway
Let's keep working on the Bitcoin ecosystem we want to see and use ourselves.