What happens if crypto currency collapses?

[Kendodd]

I've heard Trump has launched his own crypto (and made billions already). How will this affect the economy when you have the president setting up his own currency as an alternative to the US dollar?
What happens if crypto collapses will this affect the world economy?
Any clever people who can figure this out and explain it to me?

I have been hidden. I shared a link to an article in todays Times which I read earlier and thought was a good explainer and relevant to OPs question

I was going to reply @Kendodd but then I saw the amount of deletions. What's happening, your thread being spammed or something?

Haha, I seem to be hidden too! I really didn't say much of use but suggested some points to research if the OP wants to. I assume I used some naughty keywords!

This reply has been hidden until the MNHQ team can have a look at it.

All memes fall, it's pump and run. Trump has already taken 11 billion profit....many others who were brave enough to stick money in early doors and then selling when the market cap hit the billions are now millionaires.

I purchased some crypto a few years back and sold it early last year ....an initial buy of a 1000 pounds paid out over 20,000. It's pure chance and pure gambling but it's fun.

Crypto will replace cash eventually, it's digital and it scares people but Blockchain assets are growing in credibility with ETFs now and major institutions using. Everything from your life history, your identity to everything you own is being digitally stored.... crypto is simply an extension of that....

@NotAnotherBirthday 🤣🤣🤣 your comment made me chuckle

Quite honestly, OP, Mumsnet is probably not the best place for it, much as I usually like it here!

Past threads about, ahem, similar interests have shown that there is a lot of misunderstanding of the subject, and not much useful discussion.

Okay I have a question and I will give it a try for not being deleted

has Trump produced ennn efff tees? I know people did that in the hope that they would gain value but do many people really invest?

the value of those can't matter that much in the whole arena?

The issue, in the US at least, is that if "this type of currency" starts to fall, Trump is going to use the US Treasury to shore it up. He doesn't want to lose anything...

Which Trump coin are you looking at? I think you might have the wrong one.

And the 'billions' refers to market cap, not the price per coin.

I’m not sure why my earlier comment has been hidden so I’ll give you these scam warnings instead and hope you can see them. Be careful what you Google as there’s lots of ‘brokers/investment companies’ out there who just want to scam you out of your money. Don’t rely on anyone else buying it / trading it on your behalf. Expect to lose all your money. If it’s too good to be true, that’s because it is.

Ah @Acc0untant is probably right. I was trying to explain its a meme coin and pointing out other daft ones like goat coin

Possibly.

I suspect it's a means of corruption. Get loads of money in. Currency crashes, someone's got loads of money. Like when a company gets loads of investment but somehow declares bankruptcy like Philip Green. Or Bialistock and Bloom in The Profucers.

In this case it's President Trump.

It will be key words, I was hidden recently for mentioning a type of standard multi v1tamin that isn't a tablet form!

My comment wasn't reinstated 😆

I'm pleased to see multiple posts that were previously hidden can now be read. This potentially could be an interesting discussion.

Often the drop in value in this particular market leads to collapse. The assets rarely regain the value of the initial investment.

Many are well suss and I can see how they could be used for corruption.

MNHQ reinstated a bunch of posts! Hopefully the thread is more readable now. Just an FYI for those who perhaps abandoned the thread after all the hidden posts.

There are so many cryptocurrencies. Nothing really happens if they crash. No different to pokemons cards or what ever fads there are that people pay money for. There is nothing but fashion supporting the value

How?
US government buying up loads of it?

You don't think Trump would do that to help his investment?