fp.

The last time I played with NFTs it was about $50 USD just in processing fees to mint the token; not sure if that has changed since then. So it's not necessarily the case that the author is making a bunch of money off of this project; they might actually be just passing along costs.

charcircuit•1h ago

It would be easier to make a smart contract that minted bUSD by giving it USDT to burn.

yangl1996•1h ago

But then Tether would be holding the collateral, which would continue participating in the nation's (or the world's) economy?

commandersaki•1h ago

TL;DR: (Crypto) grift posing as art.

throwmeaway222•1h ago

It's a lot less insane than jumping out of an airplane and letting it crash for virality- but it's still in the same vein of vanity. Look at me, I'm doing something crazy.

ocdtrekkie•52m ago

There may have not really been much prosecution for this historically but... also rarely is a crime so carefully and meticulously documented, and we happen to have an executive branch currently obsessed with patriotic symbology and aggressive responses to petty crime... this may been a uniquely bad time to do this.

its-summertime•40m ago

a not-small portion of his followers believes that the USD is going to be retired and replaced with a cryptocurrency, so its probably safe to do this.

Esophagus4•43m ago

Well this is fun.

I like this sort of performance art where someone becomes the thing they’re satirizing to point out its absurdities. It reminds me of when Stephen Colbert setup a super PAC to expose how corrupt it could be.

OutOfHere•15m ago

Issuing stablecoin legally requires collateral reserves to be held. When there is a bank run on the issued stablecoin, that's when this matters. Without the collateral, the value of the stablecoin risks dipping to zero. Faith alone isn't always sufficient.