Mark Cuban mulls memecoin to pay US debt \ stacker news ~econ

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Mark Cuban mulls memecoin to pay US debt cointelegraph.com/news/mark-cuban-memecoin-us-national-debt

457 sats \ 16 comments \ @siggy47 22 Jan econ

Are we having fun yet?

81 sats \ 7 replies \ @SimpleStacker 22 Jan

I mean, it's not a new idea. States run lotteries to raise public money. Why not the feds? It's just a stealth regressive tax. I guess I wouldn't mind it in terms of effects, but I don't like the idea aesthetically

31 sats \ 1 reply \ @kepford 22 Jan

Oh man... the lotteries scam.

0 sats \ 0 replies \ @SimpleStacker 22 Jan

Yeah, very regressive form of taxation. But given where we are, if they used lottery money to pay off public debts, I think I'd support that. Because that would constitute a shrinking of the footprint of the government.

(Not that this would ever happen, but it's a nice little thought experiment)

30 sats \ 4 replies \ @Undisciplined 22 Jan

Just give the bond holders some $TRUMP or Doge and call it a day.

38 sats \ 3 replies \ @SimpleStacker 22 Jan

Ok, so hear me out. We can't give bond holders $TRUMP coz that would constitute a default.

But if they sell memecoins to pay off debt, wouldn't that constitute taking dollars out of circulation? Degens give the feds dollars, the feds use the dollars to retire debt. Degens get memecoins, but their value will quickly fall to zero and they will stop circulating.

So doesn't Cuban's plan result in money being taken out of circulation?

30 sats \ 2 replies \ @Undisciplined 22 Jan

We can give them $TRUMP once it's been made legal tender.

Yes, it would be deflationary, but it would only matter if there were trillions of dollars of demand for the meme coins. There are only so many fools and most of them have already been parted from their money.

28 sats \ 1 reply \ @SimpleStacker 22 Jan

There are only so many fools

This seems like a hold my beer moment

30 sats \ 0 replies \ @Undisciplined 22 Jan

All I mean is that they are technically finite. The second part of that sentence was the more important part.

But, yes, I'm sure something spectacularly stupid will happen in the near future. I have been telling people for years that we aren't on The Darkest Timeline, we're on The Dumbest Timeline.

71 sats \ 1 reply \ @grayruby 22 Jan

No worse than the minting of a trillion dollar coin idea.

41 sats \ 0 replies \ @Undisciplined 22 Jan

My first thought, too

42 sats \ 0 replies \ @guts 22 Jan

Cuban is a grifter

42 sats \ 0 replies \ @Riberet 22 Jan

I don't know whether to laugh or cry.

42 sats \ 0 replies \ @kepford 22 Jan

What a clown. Bitcoin exposes people. Over and over again.

41 sats \ 0 replies \ @000w2 23 Jan

Mark Cuban is a retard.

Why do we need to know his opinion on anything?

41 sats \ 0 replies \ @gmd 22 Jan

whatever happened to miami coin lol

(n/m looks like it's just gonzo)

41 sats \ 0 replies \ @Satosora 22 Jan

I wonder if that was from his conversation with barron trump?