Money

Introducing TrumpCoin, The Currency For Fans Of Donald Trump

One Scottish Trump fan created a cryptocurrency honoring the presidential candidate

Money
(Photo Illustration: R. A. Di Ieso)
Apr 06, 2016 at 4:26 PM ET

Donald Trump supporters who have resisted using Bitcoin because it wasn’t stamped with their preferred presidential candidate no longer have an excuse.

TrumpCoin is here.

It’s the latest in a never-ending stream of alternate cryptocurrencies, or altcoins, which function similarly to Bitcoin: They work in theory like a currency, are “mined” by computers working on an algorithm and are stored on user accounts called wallets. Hundreds of altcoins compete for users’ attention at any given time, and while the user experience is similar for each, it’s not uncommon for an altcoin to adopt a familiar face. Dogecoin, named for the “doge” meme, is still widely traded. The ill-fated Coinye West, on the other hand, shut down after being sued by Kanye West. Trump, as it happens, holds a certain appeal for believers in a radically free market economy.

TrumpCoin’s founder identifies himself only by the username Chicken65—like a much of the cryptocurrency world, he’s reluctant to use his real name—but told Vocativ in a Skype interview that he’s a Scottish music producer, bald and around 40 years old. Like many in the cryptocurrency world, he’s a longtime fan of free markets and opponent of government regulation of the financial world, and feels Donald Trump is the highest profile representation of those ideas in the world today.

“In my ideal world there would be no such thing as governments, banks, welfare states, institutionalized education, nationalized heathcare and so on,” Chicken65 said. “I don’t agree with all [Trump] says,” he wrote, “but I couldn’t call the coin ‘The Free Society Logic Reason Truth and Philosophical coin.’” He notes that has come with its own set of problems. “[T]he coin has been under attack from day one” from people trying to knock it offline with DDoS attacks, he says—”some people seem to like attacking anything Trump.”

Like all but a handful of altcoins, an individual TrumpCoin is practically worthless at the moment, with market watch site Coinmarketcap listing one TrumpCoin as worth about $0.005. But it’s only two months old, and Chicken65 has big plans for TrumpCoin—he plans to soon upgrade it to Version 2, which comes with a host of new features. But even if it never takes off, it’s not just as much about the money, he says—it’s also about reminding people that economic freedom can mean freedom from government-sponsored currency.

“I believe we don’t need any form of government … generally all state institutions practice violence against their populations. Taxation is a form of violence,” Chicken65 said. “I simply don’t understand why people love government—they are terrorists. They have killed the vast majority of people in human history. They are our enemy.”