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Bitcoin it’s nothing else than the way the west it’s fighting against the Chinese economy, it’s just making money anonymously where there is no money. Better than using the classic central bank method.
This is somewhat of a conspiracy theory but I’m surprised it’s not a more popular conspiracy theory. I’ve always had the suspicion that crypto is an op by cia/nsa or like japan or somebody.
What’s better to sustain a fake economy than a mechanism to make money from nowhere anonymously? I mean isn’t like someone will push a button and do it, it’s more like the bigger owners of bitcoin are a handful of people/corps and they can easily coordinate their actions to manipulate the value. WO mention it trading on the stock market…
Once again Trump proves himself to be a mere opportunist and grifter without principles or convictions. While in office Steven Mnuchin tried to kill crypto at the behest of the banking industry and Trump was vocal against Bitcoin. Once he left the White House he peddled his own NFTs.
without principles or convictions
He has 34 convictions
We all know politicians have no morals. The reason he changed his stance is very simply because the crypto industry very well could get him elected. Crypto is a growing concern for a lot of people and he has to see that.
Crypto is a growing concern for a lot of people
What do you mean?
More and more people have used it or would use it or are interested in using it.
But they’re almost all using it STUPIDLY, aren’t they?
How many people who purport to have Bitcoin actually hold their own private key?
How is that relevant? He’s looking for votes, not to change what currencies people use.
Now you make a very fair point there. If you hold Bitcoin on an exchange or an ETF or somebody else holds it for you, you don’t own Bitcoin. That’s for sure. In those cases, you hold an IOU for Bitcoin. And that’s worth just about as much as it sounds. In other words, shit.
How many people hold a key to their bank’s vault or deposit box?
Safe deposit box?
Everyone who has one, I hope.
It’s called a Bitcoin “wallet”, too. If someone else is holding yours, it’s not your money.
Make me some money!!
Its trump. He bankrupted THREE casinos. And you trust THIS GUY to make you money???
he couldn’t even hide an affair.
If they buy crypto like his bumper stickers I will make money. It’s not like the stock market and crypto aren’t already played out by rich people playing games. It’s just another corrupt rise on the chart it will all always crash. (Not an endorsement… I already have crypto.)
This post reminded me that I also still had Bitcoin that I wanted to swap for Monero. Think I’m gonna wait a bit for the Trump supporters to buy in, they’ll just do whatever he says without a second thought.
We do not control USD.
Taking pointers from Elon’s playbook with Doge, I see.
Bitcoin doesn’t move like the stock market. There’s no hedge funds to call to naked short a nonexistent Bitcoin Inc in to the dirt. This means nothing.
That said I’d live bitcoin to go to a penny. I’d buy and hodl. I’d buy and hodl hard.
That said, fuck Trump. But not literally because his lineage should be pruned.
Monero is what Bitcoiners thought they bought. It’s completely fungible and private just as cash is supposed to be.
Monero is great. Only crypto currency I actually use. Transactions are also waaay cheaper and faster than with Bitcoin.
It’s really the only one worth using.
It’s also the one being targeted by governments, who are trying harder and harder to track consumer spending.
Even if you don’t like crypto generally, consider using Monero as a middle finger to governments. Don’t hold any long term, just make a few purchases here and there.
I think it’s worth using long-term. If they are targeting it so hard, that must mean that it actually works. Because otherwise, why would they be going after it so damn hard?
Exactly. I don’t think they can track transactions, so the next best thing is to make it illegal. If more people use it for regular transactions, it’s even harder for them to ban.
Problem is, is that they can’t even really truly make it illegal. As long as any cryptocurrency is legal, no matter what it is, you can always buy Monero, either with it or by exchanging it for Bitcoin or Litecoin and then exchanging that for Monero. Also, the decentralized exchange, Haveno launched a month ago today and there is no way to shut it down. It’s a peer to peer decentralized exchange all done over the tor network. Good luck without killing the internet entirely.
It’s also completely unsustainable like bitcoin. There’s no long term future in proof-of-work.
Monero uses RandomX which must be done only on CPU which limits power consumption drastically and promotes decentralization rather than mining farms like bitcoin. Both of those combined will make it much easier for utilities to handle it. Since one utility won’t be getting hit with extreme load from mining farms all in one single area, such as Texas. You’ve also got to consider how much electricity does the banking industry as a whole use for building their buildings, bringing employees to work, shuttling money around in armored trucks, all that stuff. There’s probably tons I’m not even thinking of. Proof of work is better than proof of stake simply because a governmyth can’t print more of their crap fiat currency and buy up more stake in order to hurt the network. If a government wants to attack Ethereum, they just print more fiat currency and buy Ethereum. If they want to attack Bitcoin or Monero, they have to buy the equipment to do so and then plug it in and use power. They would have to sacrifice something real in order to do that.
Bitcoin has been moving like the stock market since 2020. Big investors got involved, small investors lost trust in stocks. I don’t fully expect the current halving to cause the rally like all the other times it halved. That is assuming it doesn’t keep bombing shortly after breaking $69,420, what I suspect is a meme sell limit price.
Tin-foil hat time but I’d be willing to bet they have mechanisms to do something resembling naked shorting with crypto. I have no idea what that voodoo might be, but they conjure shares out of thin air for shorting stocks, and they’ve managed to package crypto into ETFs some-fucking-how so why not. I feel like I’m increasingly noticing that nothing really seems to crash anymore.
“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday.
lol, no shot he wrote this.
He did just have a fund raiser in SF with some billionaire crypto bros…so he may not have
He probably can’t even read it. “Man. Woman. Camera. CBDC.”
This is the best summary I could come up with:
Last month, his campaign began accepting crypto donations, calling the decentralized currency a reflection of Trump’s commitment to “freedom over socialistic government control.”
“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday.
The former President met with the country’s largest Bitcoin mining companies on Tuesday night, according to The New York Times and several photos posted by crypto executives.
Trump may be hard-pressed for cash these days given his recent conviction, ongoing legal cases, and, oh yeah, the upcoming 2024 Presidential Election that’s less than five months away.
The crypto community, which is searching for allies in D.C. to create friendlier policies, could offer a meaningful source of funding to Trump in this critical final stretch.
Tech venture capitalists David Sacks and Chamath Palihapitiya also just threw a fundraiser for Trump last week, which drew high-profile Bay Area executives and big donations.
The original article contains 435 words, the summary contains 157 words. Saved 64%. I’m a bot and I’m open source!
So…which government got his claws in him this time? Taking all bets.
He must have had some girl pee on him in El Salvador.
Phew, can finally cross this off my short list of things he hasn’t been completely hypocritical about.
Oh yeah. I remember this episode of Mr. Robot
“Don’t use Bitcoins! They are EVIL! Give them to me, I’ll take care of them!”
Oh. Donald must have bought some Bitcoins so it is time to pump for a dump.
But what if the bitcoin is made on an electric boat that is being attacked by sharks?
its a flexible valuation he can manipulate with words and far less regulation. makes sense for a public con artist
Almost like he learned from Musk and his manipulation of Dogecoin or whatever
This is it. He had a taste of pump and dump securities fraud with the SPAC. He has spotted a new scam.
