The podcast announced the creation of WLFT, a non transferable governance token.
How do you actually make a token "non transferable?"
Ultimately, the cryptographic key decides who owns the token. So even if the token isn't directly transferable, you can still package the key within a vault, and transfer the vault. Sadly this is an area I haven't really kept up on in detail over the past 5 years. Can someone explain if there is a way to make something that can't be encapsulated into a different instrument?
What exactly are your purchasing when buying this governance token?
Influence? voting rights? OK. But if you can't transfer the token, and you become disillusioned with the direction your peers are taking the organization, is there no exit strategy at all? How exactly does this work? You and your progeny are stuck with this forever?
Why does the team need 20% for incentive?
If it's a non transferable token for governance only, how exactly does withholding 20% of these for team compensation help? In order for this to make sense, the tokens must have a financial value. What is the financial value for these things? It seems this is just to make sure that insiders have significant control of the board of this organization. This is probably the most disappointing aspect of the announcement. Similarly, what is the 17% for "incentives"? How does a non transferable governance token incentivize people? I don't think I want people "incentivized" to control me or platforms that I use. The customers should be the ones ultimately dictating direction.
The general talk around this platform is they are going to be lending "stable coins" to the public. Sadly, there is exactly zero information so far about how they intend to administer or audit these stable coins, or even what the products are going to be.
Trump really failed spectacularly on this one. If he was hoping to energize the crypto community in his favor, this was a massive bust. And it doesn't give me any confidence he's going to do a good job reshaping the US economy as we move forward through this crisis if this is the best he can do at sharing his vision. I understand this is his company and not the government (yet), but people have patterns. And this pattern is disturbing to say the least.
I myself haven't listened to the podcast yet, but there is one pattern I must point out that we have noticed a few times.
Trump announces something that promises to be juicy and high energy.
Trump has a misfortune that barely misses him
The announced juicy event turns out to be nothingburger.
One explanation to this is that the promise of disclosure elicits moves by the Cabal, and is the real intention of the event in the first place.
This makes sense when you consider that by its very nature, important disclosures only makes sense at the precipice and hence any promises of disclosures merely railroad the enemy into taking us closer to that point.
Very good observation.
Trump is a master at baiting his enemies into doing foolish things
Case in point, the media in 2016
EXACTLY
He just baited the cabal into wasting another MKUltra asset
Seems very likely, actually.
Change "Seems VERY LIKELY" to "More THAN LIKELY"....THIS type of baiting is what is used in AMBUSHES...set a trap that the enemy either follows or holds and then LET ALL HELL BREAK LOOSE....WOOOOOOOWZA!!!!!!
AND PDJT is a "MASTER OF MILITARY HISTORY" I do believe so!!!!!!!
Great Comment RandomNumber...Question: Which one are you on today?????
😂😂😂😂😂😂😂😂😂😂😂😂😂
Crypto of any sort no thank you.
Yeah I listened to it and thought it was a nothing burger!
Worse than being a nothing burger, it is raising serious questions in my mind about who is influencing him, and what that implies for how he's going to re-engineer the US financial system.
I agree.
I love Trump. But sometimes i question the whole plan because of stuff like this.
Trump is a marketing and promotion genius. That worries me sometimes!
That he oversells things because of hype. Marketing people always hype things to sell it.
What else is he just hyping up to market and sell it.
I'm sorry I just don't understand and crypto. All I see is the ability to take away our money by controlling how we spend it. We are able to see that THEY already try to contolmeverything that is on the constitution. Why do we think somebody, somewhere will try to control us via money.not to mention all this needs energy and our infrastructure is unreliable. In my mind its just the latest shiny to chase.
I posted an article yesterday that said it could be unlocked by a crypto-friendly Trump appointment:
https://popular.info/p/trump-teams-up-with-pickup-artist
Another complicating factor is that, currently, the Securities and Exchange Commission treats most new crypto tokens as securities, particularly when marketed as investment opportunities. This means that absent complying with the SEC's regulations on issuing securities, World Liberty Financial's governance token could be illegal.
The company appears to be getting around this problem by making its governance tokens non-transferable at the outset. According to the white paper, the tokens will be "locked indefinitely in a wallet or smart contract until such time, if ever, [the tokens] are unlocked through protocol governance procedures in a manner that does not contravene applicable law." In other words, a future Trump administration could unlock the value of World Liberty Financial's tokens by appointing an SEC chair who is friendly to the crypto industry.
I think the whole point of last night’s announcement and World Liberty Financial (WLF) in general is to introduce crypto to to the MAGA crowd first and encourage them to participate in crypto to support growing the infrastructure for a crypto marketplace. Eric Trump said it best when he compared his hospitality business experience and that he wants to bring more hospitality to crypto in the form of making it user friendly. This is an operation to jumpstart crypto in the USA. Who do you want occupying the crypto space? The Fed with FedCoin or something backed and built by the Trump brand? I’m guessing the Trump kids want to do with crypto what Papi Trump did with New York and other major city skylines. Trump is throwing his name in as an endorsement but this is his kid’s project. It seems the want to grow WLF into a mainstream crypto market. The stable coin is going to be the entry level product. This is what I took away from tonight
Honestly? All that is necessary is a completely decentralized, public, Proof of Work blockchain like Bitcoin. That was always the whole point of the blockchain technology. A system that required no trust, and no governance structure. It gives me great pause when people start trying to get government involved in things that should be nothing more than personal choice.
I don’t see how government is involved other than a former president offering an endorsement to his son’s private business venture. That sounds kinda effed up after typing it.
The way I took the WLF announcement was the Trump kids trying build a competitor to CoinBase or something. Crypto is going to be HUGE it’s understandable they want to establish a foothold in that space. Here’s the question, will the Trumps help that industry or scam what they can out of it? I don’t know enough about it to have an opinion. I don’t know jack shit about crypto. This is just what a novice like me sees between the lines.
Trumps have been honorable so far. With them offering a top quality product, crypto market, at the most competitive pricing perhaps they force others in the space to be more honorable (edit: or more competitive) as well.
Who knows? I’m a metals guy so I don’t really care but I have been waiting to drop a grand or two on some kind of crypto just to diversify and not be left out of the party and I can tell you I feel better throwing my currency at a Trump backed business that jackwads that do crooked shit like shut down there storefront to keep people from selling or lock people out of buying certain products.
Edit: I will most likely buy BTC just not through CoinBase or Binance. Is River any good? I have no idea what I’m talking about prolly…lol
Link to the podcast?
https://x.com/farokh/status/1835829888743608468
you poor doomer.. RIP