This was the end goal of crypto aligning behind Trump - the crypto economy has very few actual dollars in it and relies on finding new people to hold the bag to get their dollars. The US government is the ultimate bag holder and they’re going to use your tax dollars to bail out crypto owners. - ThreadSky

cooperlund.online • 1 day ago

This was the end goal of crypto aligning behind Trump - the crypto economy has very few actual dollars in it and relies on finding new people to hold the bag to get their dollars. The US government is the ultimate bag holder and they’re going to use your tax dollars to bail out crypto owners.

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stephentracey.bsky.social•1 day ago

I love that he added Solana to his crypto wallet, I mean the national crypto reserve. Solana uses the part of the blockchain where Trump’s meme coins are hosted. It is not a valuable asset to most others. The grift is right before our eyes and so many are willing to ignore it.

leaferi.bsky.social•1 day ago

Must stop

brightmark.bsky.social•1 day ago

https://bsky.app/profile/maddogmazz.bsky.social/post/3ljgiocqce22n

brightmark.bsky.social•1 day ago

The Network State seems to point to the end game. If legit, a large coalition of citizens would be against it… if they knew about it.

https://www.vcinfodocs.com/day-one-of-venture-capital-takeover

brightmark.bsky.social•1 day ago

“Right-wing venture capitalists in the tech industry now seeks to compromise the US government, to assume a new level of power and wealth, and attain forms of legal, economic and regulatory sovereignty, where they can operate outside of any other nation-state power.”
https://youtu.be/5RpPTRcz1no

giamonroe.bsky.social•1 day ago

Here’s the real ponzi scheme #ElonMusk

lordmcpee.bsky.social•1 day ago

Centralizing the decentralized crypto market. Brilliant.

thecolinlucas.bsky.social•1 day ago

Someone had to have written that for him though, right? It's not in all caps and he got all of the coin names correct.

joyouspanther.bsky.social•1 day ago

tuberville.sucks•1 day ago

The ultimate grandpa scam. The dumbest old person you know is taking your money - not his - and putting it in the bitcoin ATM.

laurascalzo.bsky.social•1 day ago

There’s a Jack/magic beans thing happening here. 🤨

bornonagreenlight.bsky.social•1 day ago

This was PAINFULLY obvious when the Biden admin was mulling regulating crypto, and Silicon Valley went all Business Plot.

lynner1.bsky.social•1 day ago

Invest at your own risk 🙄

thewettanktops.bsky.social•1 day ago

Actual question cause Trump farts out new meaningless EOs every day- Does this do jackshit or do they need Congress to actually make this stupid shit happen.

If the latter… lol, good luck

dangerblond.bsky.social•1 day ago

And he did not write this. Not enough misspellings and errant capitalization.

whetmoser.com•1 day ago

my berserk theory is that they're eventually going to tell the DOE to mine bitcoin

cooperlund.online•1 day ago

Oh god

janusroberts.bsky.social•1 day ago

Should have banned crypto

patriciacampbell.bsky.social•1 day ago

So in other words.....a ponzi scheme.

bam5.bsky.social•1 day ago

This would probably be a bad idea politically, but it would be very funny if the next Democratic dumped all the crypto at once

bsarginger.bsky.social•1 day ago

We're really doing a shittier version of the financial collapse from '08?

tbapple.bsky.social•1 day ago

The only question is when? Over/Under is 3 months.

bsarginger.bsky.social•1 day ago

Feels like we're doing it in reverse. Getting the bailouts going before the real collapse starts happening. Can't say I'm a fan.

dubbaewwteeeff.bsky.social•1 day ago

*astronaut meme* Always have been

jdbatts79.bsky.social•1 day ago

The amount of the economy that is comprised of elaborate schemes to get suckers to hold the bag is honestly pretty staggering - crypto, AI, natural gas - all useless economically as a product but all making people billions by kicking the burden down the line to marks

sfaccountant.bsky.social•1 day ago

"Natural gas" being useless as a product comes as quote a shock to me, as it probably would to many countries that rely on it for export revenue.

jdbatts79.bsky.social•1 day ago

It’s an oversimplification but it’s a loser to scale which is why companies are sitting on wells and driving prices up while actively looking for investors to hold the bag when it blows up. It’s useful on a micro level but has zero future

sfaccountant.bsky.social•1 day ago

I think that's magnitudes different from "useless economically," not an oversimplification.

barb99.bsky.social•1 day ago

This should be examined by the congress

8t3v3n.bsky.social•20 hours ago

The final pump and dump for this grift and like previous scams involving the govt carrying the bag, it will end in disaster for the people in the economy.

cooperlund.online•1 day ago

This is also why the arguments that the Dems should have been nicer to Silicon Valley don’t hold up. They were never going to give them what they want, which is this deal. If anything, they should have made it a point to regulate crypto out of existence.

ulrichw.bsky.social•1 day ago

IMO equating support of crypto with "Silicon Valley" is fallacious. There are plenty of differing opinions on crypto in tech - it just so happens that the current "Tech bros" in power happen to be on the pro-crypto side.

ann-t-social.bsky.social•1 day ago

Yes, they should have.

bigworker.bsky.social•1 day ago

Dems always end up in this awkward middle ground where they're not fully embracing the harmful force in question like Republicans, but not trying to eliminate it either, so it just becomes a permanent member of the right wing coalition.

hellscapenavigator.bsky.social•1 day ago

the very existence of crypto as an industry is a failure of the rule of law. "yeah we want to make a scam that is also good for crime" should have been a resounding and immediate "no, go straight to jail"

cooperlund.online•1 day ago

Anyway, this is the secret big point - cryptocurrency, for those not trying to make an easy buck, is a libertarian ideological project to replace the US dollar and undermine the power of the US government, and it’s absurd that the government would embrace it.

https://bsky.app/profile/freecialis.bsky.social/post/3ljfux6glos26

kalenaaleka.bsky.social•1 day ago

Would the amorphous entity known as Wall Street want this to happen? This shift to crypto-- to the point that Trump & Co would invest more than seized crypto-- but "real" money?

rokey.bsky.social•1 day ago

Um so - Ponzi scheme? Like Musk says our Social Security is?

dubbaewwteeeff.bsky.social•1 day ago

That's all crypto ever has been, almost definitionally.

There is no economic work or value being produced in mining cryptocurrency. It's literally wasting resources to solve equations that have no meaning beyond "if you solve this you get a Bitcoin".

dubbaewwteeeff.bsky.social•1 day ago

Real money doesn't go from being worth $0.10 to $76,000 in 14 years, because there's no actual source of *value* in it other than as a standard medium of exchange.

The only way to liquidate that asset and see the gains is to sell it to someone else, who trades something of real value to get it.

rokey.bsky.social•1 day ago

Like laundering counterfeit money

dubbaewwteeeff.bsky.social•1 day ago

Exactly. Or hyping up a "mystery box" auction into a 6-figure bidding war, and when the buyer opens it there's a couple of Chuck E Cheese ticket prizes inside.

rokey.bsky.social•1 day ago

We're just getting dumber as a nation and it's exhausting to watch

rokey.bsky.social•1 day ago

I've been saying that our next 2008-style economic collapse will be bc of crypto and looks like it's just kicking off

dubbaewwteeeff.bsky.social•1 day ago

Oh absolutely. We're well on our way. It's a speculation bubble, and there's only one way that those can ever go. It's just a question of how bad it'll be when it pops.

rokey.bsky.social•1 day ago

And in the end the ringleaders will prosper and the lemmings will suffer. As ever.

karrbomb.bsky.social•1 day ago

Make America Bag Holders Again - just in time for the market contraction.

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