A new currency — TrumpCoin — dedicated to supporting Donald Trump’s presidency is currently seeking investments as a political action committee (PAC).
Support Trump ‘Without Giving Away All Your Money’
“Let’s make crypto great again,” the closing slogan of the video drones. It describes Trumpcoin as “a way you could support the Trump campaign without giving away all your money.”
The website states TrumpCoin is unaffiliated with Trump and has no official connections to anything surrounding his official presidential campaign. Users are referred to the coin’s Bitcointalk thread for in-depth information.
The setup behind the coin appears familiar enough. A total of 6 million TrumpCoins are available for purchase, with 200,000 of these set aside in a so-called “Trump Fund,” which will be donated to Trump’s campaign in USD “once it reaches a substantial value,” the video explains.
TrumpCoins’ value overall is stated to increase from heightened demand through marketing, allowing alleged profits to be dished out to investors and forwarded to Trump as donations.
Hillary’s Scam, Not Ours
The language employed throughout the official site and video is tellingly basic in order to interest, one Reddit user suggests, a maximum cross-section of non-technical investors.
“The best part is that unlike a donation where you never see your money again, when you buy TrumpCoins you now own those TrumpCoins,” the latter continues. The screen depicts a cash donation to the Clinton Foundation, which is marked as a “scam.”
A browse through the TrumpCoin Bitcointalk thread however produces a feeling of foreboding. Navigating away from the page chosen as the linking destination from the TrumpCoin website, one quickly encounters infighting developers and disarray, which are grimly familiar to those of countless other niche altcoins.
“Just as I suspected [developer] Signal7 isnt prepared to send the coins in to Escrow,” a post by a developer Chris Cowie reads.
That mans sole objective when he sneaked his way in to this project was to sell of his coins totalling more than 2 million which he mined using the computers in the data centre he works at. Everything he has done has been about that, nothing more.
Cowie also accuses Signal7 of “wanting to steal” the Trump Fund.
More than that, however, the thread is in fact locked. The last message is from Cowie, who states that as of July he has “no choice but to lock this thread for good.”
“As time goes on the fud will just become more and more,” he concludes.
While TrumpCoin is already the subject of predictable debate, and listed at around $0.05 on CoinMarketCap, investors lured by the latest website will quickly unearth the kind of activity from Bitcointalk alone that points to a less-than-solid operation in which to invest personal funds.
Would you buy TrumpCoin to support Donald Trump’s campaign? Let us know in the comments section below!
Images courtesy of vocativ.com, imgur.com, businessinsider.com