How do the newly created $TRUMP and $MELANIA meme coins work? How much was invested in creating them? What can they be used for? Can I buy one and sell half of it?
This could be AI slop but gives you the rough idea of what is involved<p><a href="https://shamlatech.com/start-your-own-meme-coin/" rel="nofollow">https://shamlatech.com/start-your-own-meme-coin/</a><p>The Bitcoin system is, ultimately, a secure database which says that "so and so owns 0.431 BTC" and lets you transfer BTC to someone else's ledger. In the case of BTC the system enforces a limit on how many BTC can exist.<p>Memecoins run on programmable blockchains like ETH, but again, somebody just programmed it to make a database that has entries like "so-and-so owns 1.51 units of $MELANIA".<p>It has value insofar as someone believes they can trade "X units of $TRUMP" for a Subway Footlong or a "Y units of $MELANAIA" for an ounce of Gold. No belief = no value. The same is true for BTC, but BTC is singular and rather constrained whereas anybody can create a memecoin. Note that BTC is denominated in this unit<p><a href="https://en.bitcoin.it/wiki/Satoshi_(unit)" rel="nofollow">https://en.bitcoin.it/wiki/Satoshi_(unit)</a><p>so you can buy a fraction of a BTC, memecoins can be denominated the same way. This is different from an NFT which is also a a ledger entry but there are only a certain number of them, each one has a unique identity, and you can't split one in half.
A meme coin is a pump and dump scam propagated on social media —- ideally (for the creators) going viral.<p>They cost virtually nothing to create and can’t be used to buy anything other than cash from someone even more credulous and later to the party than the current holder.<p>Thats basically it.
I find it extremely ironic how the main selling point of cryptocurrency is that it's mathematically inflation-proof...but the crypto landscape is dominated by people just spinning up new currencies as vehicles for financial speculation that don't even pretend to have any nexus to economic value. It's like betting on which mobster can run the most profitable casino.
Trump spent almost nothing to print up a fixed bunch of collectible "Official I Wuv Trump 2025" cards, and sold a fifth of them now, while holding on to the other 4/5ths for later.<p>Buying those other 80% from him using cash will be how companies and foreign governments <i>bribe him</i> for presidential favors or to hurt their competition, while pretending that they just wanted the cards. You might also be able to get minor favors by showing-off your existing collection, just to prove you're a fan.<p>Having a way to "use" the coin for real-world results actually makes it slightly less-silly than most... Alas, it happens to based on evil crimes that will hurt the vast majority of Americans.
Their website is pretty clear. <a href="https://gettrumpmemes.com/" rel="nofollow">https://gettrumpmemes.com/</a><p>Their disclaimer:<p>> Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol "$TRUMP" and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency. CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Cards, subject to a 3-year unlocking schedule. CIC Digital LLC and Celebration Cards LLC, the owners of Fight Fight Fight LLC, will receive trading revenue derived from trading activities of Trump Meme Cards.
>Can someone explain a meme coin like I'm a 3-year old?<p>It can't be done.<p>Some things are too technical for a 3-year old no matter how you put it.<p>This isn't one of them.<p>It's simply defined as a shitcoin, because it's not worth shit, and you're not supposed to say that to a 3-year old.<p>Simple as can be but you're also supposed to grow up a bit before you get to handle real money anyway.