Political Meme Coin: Monetizing Presidential Influence and Corruption on-chain

Recently, Dmitry Kofinas expressed a negative view on political meme coins in Grant Williams' podcast, while Arthur Hayes took a relatively positive stance in his article "Zero Knowledge Proofs." This has sparked deeper contemplation on political meme coins.

Cofinas believes that the president's launch of a meme coin is absurd. He pointed out that the presidential position used to be one of the most prestigious in the world, an opportunity to bring about change. However, it is disturbing that someone would launch a meme coin right at the beginning of their term. Meme coins are seen as the most useless and foolish part of the cryptocurrency ecosystem, which itself has become notorious for scams.

Cofinas believes that this phenomenon is the result of decades of poor policies and corruption. He mentioned that when people question the actions of certain politicians, there are always those who use the misconduct of other politicians as a defense.

Williams agrees with this viewpoint and points out that events such as the lies about Iraq's weapons of mass destruction in 2002 and the global financial crisis in 2008 led to a massive loss of public trust in the political system, which made certain political actions possible.

Williams further discussed how this loss of trust leads to a loss of moral values. He believes that everything is now about greed and making money in speculative bubbles. He has developed a broader cynicism towards Western values.

Cofinas also expressed a negative view on cryptocurrency. He believes that while Blockchain and other distributed ledger technologies may have certain applications in the financial sector, the amount of capital and wealth generated so far is insufficient to justify their legitimacy.

However, Hayes has a more positive view of certain political meme coins. He believes that meme coins are bringing us into a more competitive and dynamic political era, where emerging political leaders can use the issuance of meme coins for campaign fundraising. He also believes that meme coins actually improve political corruption, allowing politicians to profit from public office in a more transparent manner.

Hayes pointed out that the simplest solution is to distribute 100% of the tokens at the time of issuance, and politicians must enter the market at the same price as everyone else if they want to believe in themselves.

Regarding the price of meme coins, Hayes believes it reflects people's expectations of politicians' future popularity. However, there are also those who hold a more traditional view, believing it is just a foolish speculative game.

It is worth noting that in the future, a new generation of politicians may emerge who use "no meme coin" as a selling point, claiming that their candidacy is to help the people rather than to get rich.

In addition to meme coins, certain political figures also plan to launch Bitcoin-related ETFs, which again provides opportunities for potential corruption.

Overall, while some believe that making corruption more public and transparent can bring about positive change, others are skeptical and think that these cryptocurrency-related plans may become obstacles rather than aids. How things will develop in the future will be answered by time.