>>25549796
>well, any money is a financial asset that promotes economic activity by serving as a measure unit, store of value, and means of exchange
But does not itself create any new activity. And even then, why should I value my car in XRP over USD, EUR, Tulips or Shiny Charizards? The US Dollar is stable, it's institutions trusted, which is the foundation of any economic activity. Trump cannot mindlessly print a trillion new USDs overnight, and won't. USD value doesn't fluctuate much, and the amount of USDs traded yearly is about the same. Whereas, with memecoins a single whale can change the entire market and suddenly make my car worthless by dumping product (aka, XRP) for sale.
This is not acceptable as a means of stable trade. The average person just needs a stable store of value, not funny money that rapidly changes in price every three months. More importantly, USDs are formally backed by the FDIC, Crypto Securities are not, and therefore if the bank goes bust USD holders will get at least $250,000 of their money back per account whereas XRP holders get nothing.
Trump should not be promoting memecoins because of this, because every retard in this country will dump their life savings into it, and then whales (including Trump) will cash out stealing it all.