Summary
Argentine President Javier Milei faces impeachment calls and fraud accusations after promoting the $LIBRA cryptocurrency on social media.
His endorsement caused a price surge, but after he deleted the post, the coin crashed, wiping out investor funds.
Critics accuse him of a “rug pull” scheme, while the government denies wrongdoing and announced an anti-corruption probe.
Argentina’s main opposition coalition calls the incident an “unprecedented scandal” and preparing to seek his impeachment.
Libertarian subreddit mods will be working overtime to correct the narrative
I still don’t understand how so many people can vote for obvious con men like this.
A religious belief in capitalism
Seeing as capitalism evolved from religion (specifically Calvinism) that only makes sense.
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Coffeezilla is doing an investigation right now, I’m looking forward to the conclusions.
Came here to post the interview. Good stuff. Incriminating stuff.
Ah, the sweet symphony of a crypto grift hitting the fan. Milei’s $LIBRA pump-and-dump scheme is just state-sanctioned Ponzi theater, proving even anarcho-capitalist messiahs can’t resist the siren song of digital snake oil. A president shilling shitcoins on Twitter? Peak late-stage capitalism.
The opposition’s faux outrage is equally laughable. Kirchner’s crew clutching pearls over crypto scams? Pot calling the kettle corrupt. This isn’t governance—it’s a circus where clowns pass legislation between meme posts.
The real tragedy? Citizens getting fleeced while the political class plays rug pull bingo. Democracy as a spectator sport, where voters choose between a dumpster fire and a tire fire. Milei’s “investigation” will vanish faster than that deleted tweet.
Crypto was supposed to be the revolution. Instead, it’s just another brick in the pyramid scheme of modernity.
It wasn’t supposed to be the revolution, it was sold like it was.
As a revolution, it relies on infinite applicability of Moore’s law to storage medium. In other words, it relies on infinite growth. It never left the square one.
Storage medium? What are you on about? You can prune blockchains and do things like demurrage to reduce bloat.
But either way it’s a weird critique. Bitcoin getting bigger makes it harder to sync clients but it’s not gonna consume all the worlds storage that doesn’t make sense.
Sold like it was? Crypto wasn’t hawked on late-night infomercials; it emerged from cypherpunk manifestos and whitepapers. It was the revolution—at least until greed and human nature dragged it into the mud. Dismissing it as a sales pitch is reductive and lazy.
Moore’s law? Storage medium? You’re just throwing tech buzzwords into a blender. Crypto’s scalability issues aren’t about transistor density or storage capacity—they’re about consensus mechanisms, energy efficiency, and adoption. Infinite growth isn’t intrinsic to crypto; it’s intrinsic to capitalism, which crypto ironically sought to escape.
And “never left square one”? That’s just willful ignorance. From smart contracts to decentralized finance, crypto has evolved. The problem isn’t stagnation—it’s co-optation. Your critique is as hollow as the systems you claim to deride.
Yeah, I’ll throw my voice into the downvote chain and say you’re absolutely right. Saying crypto is tied to Moore’s law is hot garbage. I really, really don’t want to defend crypto here since 98% of its use now is for scamming people, but there are a lot of clever consensus algorithms now that escape scalability issues. Computational waste is still a problem across the board, but that trend is shrinking in some of the newer coins, not growing.
Like I said, I wouldn’t touch crypto with a ten-foot pole, but everything you said here is completely correct, right down to the co-optation of what started as a set of impressive enthusiast projects.
Appreciate your input, honestly. The downvotes are hilarious, though—like some kind of reflexive mob reaction. It’s wild how people can’t handle nuance without reaching for the pitchforks. Keep speaking your mind; it’s refreshing in a sea of parrots.
Sonic the Hedgehog impersonator, Javier Milei, crashed Argentina’s rings (read coins) and is a robuttnick spy…
This particular pic makes me think it’s an ad for a new BBC Jane Austen or other classic period piece production. No, it’s current events.
