Bitcoin Bros betrayed by Trump's new crypto platform
www.dailydot.com
They think he'll launch his own coin next.
  • Voroxpete
    6·
    6 hours ago

    Basically, they’re mad that the platform has been set up (somewhat) in compliance with US law, which says you have to know who you’re dealing with when you’re making financial transactions, in order to avoid being a participant in various financial crimes, or being a way to funnel money to terrorist groups and organized crime.

    This is a requirement on every company that handles the moving and exchanging of money, but the crypto world holds onto the obsessive belief that they are exempt fun this, basically just because they really want to be.

    Trump, meanwhile, is basically saying “Just vote for me and I’ll make all those laws go away and you can have all the unregulated wildcat banking you want.”

    • Rentlar@lemmy.ca
      2·
      3 hours ago

      Limiting it to individuals with 100k USD income or greater is kinda smart since these are the people that would be able to recover somewhat if they blow all their savings and investments on a stupid Trumpy rugpull scheme.

      • Voroxpete
        1·
        2 hours ago

        I don’t think the 100k thing is a legal limit. More likely it’s the platform keeping their costs down by only doing KYC on people that have decent amounts of money to invest. Either that or there’s something I’m just not aware of here, which I guess is more likely.

  • Grandwolf319
    2·
    5 hours ago

    I mean… yeah. Crypto is a pyramid scheme in many ways and you can’t make money by starting at the bottom late, you got to start at the top from the get go.

    People get into crypto to make money… did crypto bros truly think musky and the orange has altruistic motives?

  • Sanctus@lemmy.worldEnglish
    29·
    18 hours ago

    “He knows this stuff inside and out”

    Translation: Barron read one article about it and told Trump in passing.

    • ZeroCool@slrpnk.netEnglish
      21·
      17 hours ago

      “I have a son. He’s 10 years old. He has computers. He is so good with these computers, it’s unbelievable. The security aspect of cyber is very, very tough. And maybe it’s hardly do-able. But I will say, we are not doing the job we should be doing.”