“If Trump was putting his name behind it, it must be a legitimate investment,” one woman told the news organization.

“This is a woman who spoke to Reuters,” Bash said. “She put $2,000 of her savings into the $TRUMP meme at the end of May. Her $TRUMP holding was worth less than $120, she now thinks it was just a pump-and-dump scheme. The second investor, Matt, a 45-year-old machinist in Indiana, put $40,000 into $TRUMP family tokens … Matt’s shares have dropped 79% in value since he bought them for a loss of about $32,700. He does not blame the Trump family.”

  • bagsy@lemmy.world
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    3 months ago

    I’ve been in a lot of cults. You make more money as a leader, but you have more fun as a follower.

  • Captain_Patchy@lemmy.world
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    3 months ago

    Anyone stupid enough to buy this memecoin thinking that anyone but trump would make money on it is suffering from the real trump derangement syndrome.

    • ChickenLadyLovesLife@lemmy.world
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      3 months ago

      Many of my coworkers are trumpers and they love to talk about “trump derangement syndrome”. Whenever they bring it up I agree with them and say “yes, trump is highly deranged” and they get all apoplectic. “That’s not what it means!”

      • BarneyPiccolo@lemmy.today
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        3 months ago

        I always tell them that the people with Trump Derangement Syndrome are the MAGAs. His disapproval ratings are around 65-75%, those aren’t the deranged ones. The deranged ones are those who are still following him after EVERYONE else in the entire world has fully accepted that he is a Traitor, Racist, Pedophile, Mysoginist, Virtuosically Incompetent,band mind-bogglingly Corrupt. None of that is speculation or propaganda, it is simple American History.

  • Wispy2891@lemmy.world
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    3 months ago

    If Trump was putting his name behind it, it must be a legitimate investment

    😂 😂 😂 😂 😂

  • kreskin@lemmy.world
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    3 months ago

    I love that he pump and dumped his own supporters. He screwed them on the trump phones too. I think they should keep giving trump their money so they can become penniless and experience Trumps attack on social services and food aid. Chefs kiss.

    • ChickenLadyLovesLife@lemmy.world
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      3 months ago

      I had a friend in college back in the '80s who was a born-again Christian and a big Jim and Tammy Faye Baker supporter. After their scams and shenanigans had been publicly exposed. And it wasn’t even that he didn’t believe the news about them – he did believe they were scammers and kept sending them most of what little money he had. If you want me to explain that mindset, I absolutely can’t. It’s something along the lines of “God works through disreputable people sometimes”.

      For me, what’s so mysterious is not that people like this can be cheated out of their money. It’s that people like this have any money to begin with.

      • BarneyPiccolo@lemmy.today
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        3 months ago

        In his mind, he wasn’t giving his money to the scammers, he was giving it to GOD, they were just the conduit.

        It sounds like he might have some OCD, or other mental issue, and was locked into this pattern, where his brain felt good when he gave money to God. He has to break that pattern somehow, or substitute a different behavior that has a positive outcome, like exercise.

        Unfortunately, whatever he substitutes will probably also become unhealthy, until he deals with whatever is causing this behavior, but at least he won’t be giving away all his money to criminals.

      • aramis87@fedia.io
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        3 months ago

        Iirc, most classes were prohibited from selling for two years after it debuted, giving the protected classes plenty of time to fleece the sheep.

      • FiniteBanjo@feddit.online
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        3 months ago

        When I find that asshole who jinxed it when they unironically said “he can’t keep getting away with these things” I am going to brutalize them.

    • spinnetrouble@sh.itjust.works
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      3 months ago

      He probably knew what to expect, but thought he had a better “system” that would let him be part of the pump and dump profiteers by getting in and getting out faster than the other schmucks who were being taken for a ride. (If he’d read the terms that locked him into holding it for years before being allowed to sell, he might’ve figured out that he was about to become a schmuck who’d be taken for a ride.)

      Anyway, it’s not gambling if you win every time!

    • Phantaloons@piefed.zip
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      3 months ago

      -in the context of mocking God, here’s the full passage, NIV:

      7-8
      Do not be deceived: God cannot be mocked. A man reaps what he sows.

      8-8
      Whoever sows to please their flesh, from the flesh will reap destruction; whoever sows to please the Spirit, from the Spirit will reap eternal life.

      8-8 ain’t bad, tho.

    • ZpbkPEcaHhIveqdR@lemmy.world
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      3 months ago

      It could be that it saves face, admitting they were wrong means admitting a lot of what they believe is also wrong and it can be very difficult to admit to that

      • Rhynoplaz@lemmy.world
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        3 months ago

        “you may feel a slight sting. That’s pride fucking with you. Fuck pride. Pride only hurts, it never helps. You fight through that shit.”