Hard to overstate what a global financial disaster this will be, with the US holding onto the grenade as they pull the pin. - ThreadSky

histoftech.bsky.social • 25 days ago

Hard to overstate what a global financial disaster this will be, with the US holding onto the grenade as they pull the pin.

Reposted from Katie Phang

“Now, as fears emerge Trump’s administration is ‘dangerously’ undermining the U.S. dollar, Musk has confirmed he wants to put the U.S. Treasury on a blockchain, the technology that underpins bitcoin and other cryptocurrencies—including Musk’s pet project dogecoin.”

www.forbes.com/sites/digita...

Comments

incompletemachine.bsky.social•25 days ago

Blockchain is incredibly easy to spoof and manipulate. its also deflationary and its trustless elements make it essentially a nightmare for any kind of privacy and social cohesion. crypto sucks worse than fiat currency capitalism. and that already sucks a lot.

acefujiwara.bsky.social•25 days ago

interesting take. do you have any facts to back this up? you must know something about this... please share 🙏🕺💯

incompletemachine.bsky.social•25 days ago

Not much I can type out in 300 characters, but there is an excellent documentary on YouTube by Dan Olson aka Folding Ideas that covers it. Here's a link to it: https://youtu.be/YQ_xWvX1n9g?si=EsVx0ZT7WdSvxneo

incompletemachine.bsky.social•25 days ago

It talks about crypto first and then NFTs but they're outgrowths of the same technology essentially, and the flaws are shared. He also discussed crypto currency with an economics podcast but I don't remember the title of the video.

acefujiwara.bsky.social•25 days ago

very interesting and thanks! have a nice week ahead!

baphometta.bsky.social•25 days ago

We've finally reached the biggest possible fool

theotherspeakman.bsky.social•25 days ago

If I was obscenely wealthy I'd be on the phone (the special burner) to the agency of Goons, Hench people, Opportunists, Sycophants, and Thugs, and they'd all be pointed at stabilizing the US dollar with violence towards Elon's groups.

Imagine your wealth evaporating into literal Ethercoin.

justjessicaok.bsky.social•25 days ago

Earlier today i almost posted that next he’ll try to put everything on a blockchain and was like, I’ll just wait a beat... i feel sick.

oldhobbit.bsky.social•25 days ago

US Army Payroll: "We have been instructed to pay you in bitcoin this month.... please form an orderly queue at the armory and ammunition store...." 🤣

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