Buttcoin

Cross-posted from "I guess I want to believe this is false" by @RNAi@hexbear.net in !slop@hexbear.net

📊 Chainalysis put out some data claiming that at least half of all TRUMP and MELANIA #memecoin “investors” never bought a token on Solana before and most of them hold less than $200 worth while 50 "whales" have made profits of more than $10 million each, strongly suggesting that the biggest suckers in the #TrumpCoin grift are the #MAGA voter base. Feels like #JustinSun made a deal with Trump to let him fleece the MAGA base and drain money back to #China.

Here’s the Chainalysis thread with the charts: x.com/chainalysis/status/18822

I have some issues with #Chainalysis and suspect the data is actually even more damning than they’re saying… but I don’t have access to the data and what they’re saying is already extremely damning. (Kind of expect them to be forced to retract it by the company ownership because of the bad PR).

part 1: https://www.youtube.com/watch?v=8zjBj194el8

part 2: https://www.youtube.com/watch?v=7EbV7kyiKZA

archive: https://archive.is/H9H1I

why the fuck would anyone want a raisin catalog

archive: https://archive.is/5aTxJ

Money corrupts; bitcoin corrupts absolutely. Disregarding all of bitcoin's shortcomings, a financial instrument that brings out the worst in people—greed—won't change the world for the better.

• news accompanied by another crypto scam
• price faked via >"$10b" of dubious stablecoin pseudodollars created out of thin air
• no liquidity, trading super thin (even more pumpable)
• public still not buying in
• (yet)
• lol

nothing has changed in my last few posts on the subject https://davidgerard.co.uk/blockchain/

Those top players represent a mere 0.01% of all bitcoin holders and yet they control 27% of the digital currency, the Wall Street Journal reported. That compares to the old-fashion dollar, where the top 1% controlled 30% of total U.S. household wealth, according to Federal Reserve data.

Cross-posted from "US hacker sentenced to five years in the slammer for laundering the proceeds of nearly 120,000 stolen bitcoin worth $10,800,000,000 at today's prices" by @BrikoX@lemmy.zip in !legalnews@lemmy.zip

No, less. No wait, more. No, it's less again.

This seems to have been overshadowed by election news. For context, this area is in the downtown business core and is perpetually busy with foot traffic.

bonus HN thread https://news.ycombinator.com/item?id=42014013 :

archive: https://archive.ph/osPSg