Trump’s Coin Is About As Revolutionary As OneCoin

By Investor Empires On Nov 5, 2024

Yet this is classy Golden sneakers And to him God bless the Bible for the United States of AmericaDonald Trump’s cryptocurrency World Liberty Financial (WLFI) immediately struck me as another way to get more money from his fan base. But when YouTuber Coffeezilla analyzed the project in more detail, what he found was even more ridiculous than I expected.

For starters (although not surprisingly), WLFI is completely pre-mined. 20 billion coins, representing 35% of the total supply, are being sold for $0.015 each. The other 65% of coins are allocated to protocol development and insiders.

This means they value the WLFI project at around $900 million, which immediately puts it at the same level as Bitcoin SV (perhaps appropriately). However, in reality, less than a billion coins have been sold so far, making it closer to a coin with a market cap of $14 million, more similar to projects like Pikaboss or Boba Oppa – and I’ve never heard of them.

Equally unsurprising is that WLFI doesn’t accomplish anything new or interesting (lending and borrowing on the existing Aave protocol), that it’s not decentralized in any meaningful way, or that one of the project’s founders has… Elusive history In this space already.

But what I didn’t expect is that WLFI is not transferable indefinitely. That’s right, for now, at least, you can’t send these coins to anyone. Can you just buy them and, I guess, sell them again later? maybe? This looks more like it One Coin – The infamous scam that was cryptocurrency in name only – more dangerous than any altcoin you’ve ever heard of.

While Nicholas and Callie believe the former president truly embraced Bitcoin, I don’t think he’s actually changed his mind about the cryptocurrency much at all since then. Three years ago…I think he just wants to participate in the scam.

Watch the full Coffeezilla episode here:

This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.