Trump’s Coin Is About As Revolutionary As OneCoin

Credit : bitcoinmagazine.com

After this trendy gold sports shoes and his God bless the American BibleDonald Trump’s cryptocurrency World Liberty Monetary (WLFI) instantly appeared to me like one more solution to squeeze some more cash out of his fan base. However when YouTuber Coffeezilla analyzed the venture in additional element, what he found was much more ridiculous than I anticipated.

For starters (though not surprisingly), WLFI is totally pre-mined. 20 billion cash, representing 35% of the full provide, can be offered for $0.015 every. The remaining 65% of the cash are allotted to protocol improvement and insiders.

This implies they worth the WLFI venture at round $900 million, which instantly places it in the identical ballpark as one thing like Bitcoin SV (maybe becoming). In actuality, nonetheless, lower than 1 billion cash have been offered up to now, placing it nearer to a $14 million market cap coin, extra akin to initiatives like Pikaboss or Boba Oppa – I would by no means heard of them both.

Neither is it stunning that WLFI does not accomplish something new or fascinating (lending and borrowing through the prevailing Aave protocol), or that it is not decentralized in any significant means, or that one of many venture’s co-founders is a unreliable history already on this room.

However what even I did not anticipate is that WLFI is indefinitely non-transferable. That is proper, not less than for now you’ll be able to’t ship these cash to anybody. You may simply purchase them and promote them again later, I assume? Perhaps? This sounds extra like One coin – the notorious fraud that was a cryptocurrency in title solely – than any critical altcoin I’ve ever heard of.

Whereas Nikolaus and Calli consider the previous president actually embraced Bitcoin, I do not suppose he has actually modified his thoughts about cryptocurrency since then. three years ago…I feel he simply desires in on the rip-off.

Watch the total Coffeezilla episode right here:

This text is a To take. The opinions expressed are solely these of the writer and don’t essentially mirror these of BTC Inc or Bitcoin Journal.