Why does Trump keep pushing $TRUMP
(truthsocial.com)
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lol that's probably why he's active to turn people off of crypto. I don't know much about crypto except I'm not going to get involved in it. Isn't crypto all about getting people to buy a coin and then the value goes up, and people cash in their coins and pull out? Is there anything of value backing up the currency other than trustmebro? Isn't that a ponzi scheme?
It's the same Trustmebro system that fiat currency has.
That question is never answered.
I know, I didn't really expect any answer here either lol.
Because google exists, AI is free, and these basic questions have been answered a billion times over. At this point, you are so far behind the curve that most people are simply not going to engage with you, when you can't or wont even do basic research yourself. AI makes it so easy now that no one has an excuse other than laziness, stupidity, or a mix of both.
Imagine someone saying "I don't know much about math, except I'm not going to learn. But 1+1 should equal 11, right? Because you are putting two number 1's next to each other? Why would it equal 2?" That's basically what you sound like.
Meme coins are crypto, but not all cryptos are meme coins. You are conflating the two.
Meme coins are essentially collectibles. They serve no purpose other than that. They just happen to have a monetary value attached to them that tends to fluctuate wildly because some people manipulate markets. You don't go to Vegas and put your lifesavings on Red because you think it's a good investment, you do it because you are gambling recklessly with your money. Maybe you lose it all, or maybe you hit. Meme coins, same idea. Maybe you're an idiot that buys it while its high and gets left holding the bag when it dumps. Or maybe you catch it at the right time before it pumps and you sell it all when it finally does and make a killing.
Either way, meme coins are a joke. That's why they are called meme coins. It's in the damn name.
So i did google, crypto like bitcoin is backed by nothing but supply and demand, no goods, or services
The difference between bitcoin and meme coin is the number of people putting their money into nothing, and the length of time they've been around. In other words trust
Bitcoin, unlike traditional fiat currencies, is not backed by a physical commodity like gold or silver, nor by the promise of a government or central bank. Bitcoin’s value comes from the widespread trust in its security, scarcity, and predictability. Similar to gold, Bitcoin is sound money and does not require backing because inherent properties that allow it to be a good store of value, medium of exchange, and unit
So it is trust, lol.