thewayne: (Default)
Seems they're going to open a crypto currency financial platform. I'd say it's pretty much on-brand as he's already done NFTs and he's been talking about using crypto to eliminate the national debt, as if that would work. He's just throwing buzzwords out to try to get crypto bros supporting his sinking ship.

They've created a new Telegram channel called The DeFiant Ones, DeFi being a buzzword for this garbage. The platform hasn't launched yet.

This is going to be interesting to watch, as in a slow-moving train wreck, break out the popcorn. His family has zero experience in banking. Yes, they've sold NFTs. Yes, they accept cryptocurrency donations. And his latest financial disclosure forms shows he holds at least a million dollars in crypto. But starting a crypto platform takes a huge amount of money, much like opening a bank. And he doesn't have it. After stealing from his charity, and his extensive history of not paying contractors, why would anyone invest in something that he's most likely going to be skimming from?

I can't wait to see him follow Sam Bankman-Fried into prison, I only hope his two idiot sons are right there in orange jumpsuits right next to him.

https://www.cnbc.com/2024/08/22/trump-crypto-defi-protocol-launch.html

https://slashdot.org/story/24/08/22/2254242/trump-promotes-familys-new-crypto-platform-the-defiant-ones
thewayne: (Default)
This is interesting. Crypto currency, in general, is a Ponzi scheme. Bitcoin's biggest uses are criminal, which tells you a lot about it. And overall it's incredibly energy-intensive to generate crypto. I put that caveat there as Etherium did a modification to their code that greatly reduces power consumption. But overall, the point stands.

There's a crypto operation in New York State that bought an old coal-fired power plant for the sole purpose of powering crypto mining rigs!!! And it's hard to regulate its pollution because it is technically no longer a power plant in that it is not generating power for the grid. It was shut down because it was too expensive to remediate its emissions. China made crypto mining and transacting completely illegal, lots of those rigs ended up in Texas and other states in the USA that have inexpensive power.

The tax would be phased in by 10% jumps annually over the next three years.

https://www.engadget.com/white-house-proposes-30-percent-tax-on-electricity-used-for-crypto-mining-090342986.html

https://hardware.slashdot.org/story/23/05/05/2237206/white-house-proposes-30-tax-on-electricity-used-for-crypto-mining

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