"The Trump family's World Liberty crypto venture is being sued by one of its billionaire backers over allegations of extortion. Justin Sun has accused World Liberty of an 'illegal scheme' to seize his WLFI tokens, a cryptocurrency issued by the company. Sun alleges the firm, co-founded by U.S. President Donald Trump and his son Eric Trump, has 'frozen' all of his tokens and stripped him of his right to vote on governance issues. "
It's amazing how stupid people are. The abuse of words astounds me.
So you might be able to claim this is some kind of "digital currency", but it's NOT a cryptocurrency. A cryptocurrency does the opposite of what these people claim. If Trump or some arbitrary person or entity controls the crypto it's clearly not a cryptocurrency. Cryptocurrencies are things that exist which are based around decentralization and can be freely exchanged independent of any government or entity.
There may be a fraud going on here, but the masses are too stupid to realize it's not crypto that's the problem. It's government entanglement and stupid people gambling. Whether it's a romance scam involving crypto that ends up coming attached with inheritance or something else all these things fall into the same general playbook. The participants are usually in some way greedy pieces of shit who at some level are themselves to blame. It's not just senile old farts being misled, but a combination of greed, stupidity, and so forth. From the law enforcement agents drumming up business for themselves to the prosecutors to the scammers to the little old ladies.
There is nothing wrong with taking risks to the degree your willing to accept the consequences, but when a society refuses to accept the risks it's doomed to economic collapse.
It's amazing how stupid people are. The abuse of words astounds me.
So you might be able to claim this is some kind of "digital currency", but it's NOT a cryptocurrency. A cryptocurrency does the opposite of what these people claim. If Trump or some arbitrary person or entity controls the crypto it's clearly not a cryptocurrency. Cryptocurrencies are things that exist which are based around decentralization and can be freely exchanged independent of any government or entity.
There may be a fraud going on here, but the masses are too stupid to realize it's not crypto that's the problem. It's government entanglement and stupid people gambling. Whether it's a romance scam involving crypto that ends up coming attached with inheritance or something else all these things fall into the same general playbook. The participants are usually in some way greedy pieces of shit who at some level are themselves to blame. It's not just senile old farts being misled, but a combination of greed, stupidity, and so forth. From the law enforcement agents drumming up business for themselves to the prosecutors to the scammers to the little old ladies.
There is nothing wrong with taking risks to the degree your willing to accept the consequences, but when a society refuses to accept the risks it's doomed to economic collapse.