The meme-coins of Trump, Melania .. and Corona
Even the most fervent crypto-skeptics have probably heard of the cryptocurrencies launched by President Trump and his lady wife, Trump$ and Melania$, shortly after his inauguration on January 20.
But only the most attentive followers of Italy’s home-grown financial affairs will have followed the launch of the $Corona cryptocurrency by that esteemed finance expert Fabrizio Corona, alas better known to the general public for minor activities such as photographing celebrities and flirting with glamorous showgirls (he once ran a paparazzi photo agency and is a fixture of Italian gossip news).
Setting aside considerations of propriety and style in the case of the new residents of the White House, as well as Consob’s (Italy’s financial markets watchdog) intervention to block the initiative of our home-grown gossip-column star (and why block such an initiative? if someone wants to entrust their money to Corona’s illustrious financial genius, they should be free to do so, so why stop them?), one wonders whether creating a cryptocurrency is really that simple.
The answer is yes, it’s that simple, and you’ll understand why by the end of the post.
Or rather, it’s that simple to create a particular type of cryptocurrency, a simplified one with no real use other than squeezing a bit of money out of naive unfortunates who certainly don’t deserve to be protected from themselves.
These cryptocurrencies are called meme-coins because the first ones, created a few years ago, featured a meme image of dogs or other animals.
Why are they so easy to create? Because meme-coins don’t have their own blockchain like Bitcoin, Ether, Solana, Ada and a few others, but rely on an existing blockchain, to which, of course, they pay a fee.
However, while technically creating a crypto of this kind is simple, quick and cheap, making it tradable is a very different matter, that is, making it possible for some naive unfortunate to hand over a monetary offering to secure a few tokens.
Yes, because it’s one thing to create a software object (because in the end that’s what we’re talking about) anonymously lost among the countless exabytes of the internet, and quite another to raise it from oblivion and get it a spot on the list of tradable currencies of some Exchange somewhere on the planet. Then, of course, it’s one thing to be traded, that is, available to buy, on an unknown Exchange in Bangladesh, and another to be traded on Binance or Coinbase, but this is exactly where the fame and credibility of the promoters come into play. Whether they’re called Donald Trump, Melania Trump or … Fabrizio Corona makes quite a difference. Not least because, once listed, a bit of extra visibility doesn’t hurt to stand out from the list of over 10k cryptos traded here and there on the planet.
Just to be clear, although the differences are profound, it’s a bit like saying that it’s one thing to set up a joint-stock company and quite another to take the same company and list it on the NYSE. The levels of reasoning and action are substantially different.
Oh, and in the time it took you to finish reading this post, we created a meme-coin, $GCUBE, symbol $GCB, max supply 10,000 tokens, on the Solana blockchain. All in a few seconds, at a cost of a few tens of euros, using one of the many sites that offer this service, in our case Orion Tools.
As we said before, it’s one thing to technically create the meme-coin, and another to make sure that someone among the 9 billion people on our planet hears about it and perhaps even feels like putting some money into it. In our case we’ve only taken the first step, creating $GCUBE, while we haven’t (yet) listed it on any Exchange. So, outside the lucky circle of MetaBlog readers, nobody has heard of this admirable initiative. And even among our readers, should anyone feel a strong desire to own some $GCUBE tokens, the only option would be to contact us by email and make a deposit (for which they would first of all earn our esteem and affection) to the Solana address below:
3NeDexaZvRowV2A2oc3n3eg3xBzG1GMdE1sRfSb54fu6
Obviously, should we list $GCUBE on a major Exchange, we would announce it immediately on our site.
