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Author: Balaji Srinivasan, former Coinbase CTO, source: author Twitter @balajis; compiled by: Baishui, bitchain vision
Overnight, most of the net worth of the next U.S. president ($59 billion) is now held in the form of cryptocurrency.This is true even if it drops by 90%.
what does that mean?
1) First, President Trump’s cryptocurrency has increased from 1% to over 90% of his net worth.Many early Bitcoin, Ethereum, and Solana holders experienced the same thing.
2) Second, with the demise of fiat currencies, this phenomenon—all non-cryptocurrency assets will be experienced by billions of people around the world in our lifetimes.
3) Thirdly, every politician, influential person and celebrity around the world is watching this phenomenon in a daze.They will wait to see how it will develop politically and economically, if memecoin shows endurance – if!——They may be their own.
4) Second, if we really get a large market with thousands of individual memecoin, then this might actually be fine, because every buyer knows what they are buying: the potential future brand value of meme.
5) It depends largely on the value of Trump’s assets, if any.Other celebrity meme coins were quickly reset to zero, butTrump is Trump, who possesses the following unique qualities: (a) more than 100 million fans, (b) daily uninterrupted coverage, (c) presidential immunity, and (d) unprecedented control over the administration.
6) So whatever form of political counterattack Trump has encountered, he now has a strong motivation to legalize cryptocurrencies in the most radical way.
7) Of course, this will be considered a conflict of interest.But Biden took 10% for the big guys, Pelosi traded her stock, Hillary monetized her speech, Podesta owned $300 billion in climate secret fund, and Obama received a Netflix deal.They all became millionaires through various deniable forms of Democratic bribery.
8) So, Trump’s rebuttal may be that he is just doing everything in public.He may have claimed that the disclosure resolved the conflict of interest.
9) This may be true, but it doesn’t completely solve the *alignment* issue.As background: The CEO of a company is usually one of the largest shareholders, but he is consistent with all employees because they hold the same stake.Ideally, all holders rise and fall together.
10) Similarly, ideally, you would want the president to be consistent with his citizens so that they all hold (say) U.S. tokens that share some dividends from U.S. profits.A bit like the Alaska Permanent Fund.
11) Therefore, one way to solve the consistency problem is to have Trump drop some TRUMP coins to every American citizen.However, it might be easier for him to send an email to every Trump supporter in his personal capacity to provide them with some free TRUMP coins.
12) Specifically: He can notify 72 hours in advance, and various Democrats will also register for his personal email list just to get airdrops.
13) Is this legal?Well, it is certainly legal for politicians to email *request* funds.But as far as I know, no politician has ever tried personal airdrops before, giving away money – of course not that large scale.
14) According to the current valuation,Trump can provide $100 lock-in TRUMP to all 77 million Trump voters by airdrop, and that “only” would cost him $7.7 billion, and the asset was zero two days ago.He can give everyone $500 and he can have more than $20 billion left.
15) Yes, Trump will lose some of his assets if he does so.But if you need to join his email list to get the tokens, and if the airdrop can be done without any capital gains, it will “recover the cost” by turning his base into a more avid supporter.
16) It could even provide him with the political support needed to completely destroy the Democratic sponsorship machine.Basically, by joining Trump’s email list and supporting his encryption policy, you’ll get a kind of UBI.
17)If 77 million Americans also benefit from TRUMP, allegations of conflict of interest will disappear.This will be a new type of social contract, a personal relationship between the president and the citizen.
Worth thinking about.
