one of the things we are going to regret most about the last decade is not making cryptocurrency flat illegal. i think you should think hard about what it means to have much of the president's inner circle heavily invested in an asset class which depends on the collapse of the American economy.
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There is no FDiC for cryptocurrency
If they replaced the dollar with crypto, the entire financial system would instantaneously collapse. Crypto cannot ever cope with transaction volumes of the world economy
You buy it with a layer 2, i.e., VISA/Mastercard
Same with Bitcoin.
Bitcoin can be traded onchain (layer 1) or offchain on Lightning (layer 2).
Dollar being traded on a credit layer like VISA is akin to Lightning network.
One of the most confusing parts is that Bitcoin is both an asset and a network protocol.
What you don't use is SWIFT or ACH networks to transfer those dollar bills.
All Crypto has become is just another stock to try to buy low and hold as it grows in value
I'm positive you can infer which asset/currency to which I am referring form the information available to you.
AFAIU it's not visa or amex to be drowning in evangelical tears.
The point where it can be realistically fettered is where it links with the financial system.
You all are as equally uneducated on Bitcoin, and too dumb to realise it.
Bitcoins, on the other hand, follow a fixed supply schedule. It cannot increase production if price spikes.
OTOH the Rev could still be right that Musk & other dipshits *think* a Depression will make their Bitcoin go up
Anyways, Trump's threats to unwind financial oversight and disestablish FDIC are much greater dangers to the economy.
Right?
It's not great!
Reality and Mike Pondsmith: you crash the US economy and destroy the USD, then everyone will use eddies/euros.
Crypto bailout or, god forbid, crypto integration into all parts of society, is more of the same
‘14 trump on fox:“You know what solves it, when the economy crashes, when the country goes to total hell, everything’s a disaster, then you’ll have riots to go back to where we used to be when we were great.”
it is an ideological project. the ideology is feudal.
Nowadays the only significant project that uses the "show how much energy you can waste" method of choosing a random participant is Bitcoin, because like Mastodon they built a primitive religion around their design flaws
In 2009, when the market crashed, the government bailed them out.
Ultimately, they want to destroy the state. If a lot of people starve to death in that process, I think from their perspective it’s all the better.
fiat currency means it only has value if it's backed by the government, and they want to destroy the government, so the idea is if we're all running on crypto when they do that then their piles of wealth will still have value afterward
they hate the idea that all their power and wealth only has value and meaning because others say it does; they're suckers for the fantasy of money that simply "is"
Oh you don't need crypto for that. Capitalism does that all on its own given how wealth, property, and power accumulation works-- a natural byproduct. Sure, maybe crypto is a new tool to use but it was happening already
Again, you don't crypto to make that happen. Just need to let the system operate as designed. And boy is it ever working.
Seems strange that a coin that goes wherever the internet goes, which is to say every country, would depend on a single country’s economy.
There are billions of people living in working in those countries, and many use bitcoin for their own reasons.
They will argue about it being noncentralized but that doesn't change the fact that you bought it with the dollar.
I think the collapse of the us economy means the crypto collapses too.
You can’t buy bread with cyrpto coins.
not that i doubt that they want to crash the economy - but i think thats more for labor/capital relationship reasons
https://www.bbc.com/news/articles/c70ezyrep1go
American people and ingenuity make the economy, even if the fat cats what you to think it's the debt that does that.
Your conclusion that it is stupid is absolutely correct however.
It’s anonymous…. to a point. Identifying the owner of one wallet leaks a lot of information about the identities of the people holding wallets that they’ve done transactions with.
Whole lotta US criminals got burned this way
Oh my gosh, that's really a thing! 🤣
Magic and hand waving.
If buying or selling BTC for USD required meeting a greasy guy in an alley because no regulated financial entity will touch it, the value would plummet.
You guys are so opposed to bitcoin I guess because you *think* it’s for criminals (it’s not) that you’re advocating *actual* criminal (unconstitutional) actions against it.
Make it make sense.
this doesn't keep you from offering them a 300 foot pole but it has successfully eviscerated the network
you should consider that you sound like a crazy person
Anyhoo my comments were directed at the convo at large not you specifically, sorry for the attack
With enough mining power, you can trash the chain's transaction reliability.
Are you saying your suggestion doesn’t violate the constitution, or that it does but you don’t care?