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HailHailtoMichigan!
LSU Fan
Trabuco Canyon, CA
Member since Mar 2012
53094 posts
 Online 

Trump is shitting on bitcoin/cryptocurrency on twitter
quote:



Donald J. Trump
@realDonaldTrump
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....


....Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...

...and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!
This post was edited on 7/11 at 8:38 pm


DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7344 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Trump doesn’t have a clue about crypto but not surprising that a US President would be anti-bitcoin and anti-libra.

Bitcoin was mentioned by the POTUS and Fed chair on the same day. Not bad for “thin air”


RockyMtnTigerWDE
Auburn Fan
Co-Captain PosiBarners
Member since Oct 2010
76284 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
I’m going to have divest my 27,000 bitcoins. Thanks Wick for the tip early on.


MileHighDraw
Member since May 2018
607 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Nerd. Nobody wants your video game nerd money.


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649
PEPE
Member since Jun 2018
4689 posts
 Online 

re: Trump is shitting on bitcoin/cryptocurrency on twitter
As President it's his job to shore up the dollar so I get where he's coming from.

However he of all people should know how corrupt the Fed is.

Crypto currency probably wouldn't exist if people had faith in how the government manages the money supply.


thelawnwranglers
LSU Fan
Oakland, NJ
Member since Sep 2007
23813 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

Crypto currency probably wouldn't exist if people had faith in how the government manages the money supply. 





I don't follow


SCLibertarian
South Carolina Fan
Conway, South Carolina
Member since Aug 2013
15143 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

It is by far the most dominant currency anywhere in the World, and it will always stay that way. 

And this quote is the real reason the United States is the world's police, not to protect our citizens. Our soldiers are fighting and dying to keep our unsustainable economy from crashing and burning.
This post was edited on 7/11 at 8:51 pm


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1615
SlapahoeTribe
LSU Fan
Tiger Nation
Member since Jul 2012
8565 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

I’m going to have divest my 27,000 bitcoins.


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220
PEPE
Member since Jun 2018
4689 posts
 Online 

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

I don't follow


One of the appealing aspects of crypto currency is that it's not centrally controlled. Nobody can arbitrary adjust the supply/demand of it.

The Fed manipulates the money supply and can easily botch things, both accidentally and on purpose.


junkfunky
LSU Fan
Member since Jan 2011
27121 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

Trump doesn’t have a clue about crypto but not surprising that a US President would be anti-bitcoin and anti-libra.



I think this was the ultimate target. Anyone who buys into it is an idiot.


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DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7344 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

I don't follow

Bitcoin was created in the wake of the recession.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

That’s the quote the founder put in the first block of bitcoin.


junkfunky
LSU Fan
Member since Jan 2011
27121 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

One of the appealing aspects of crypto currency is that it's not centrally controlled. Nobody can arbitrary adjust the supply/demand of it.


Maybe, I wouldn't trust libra, but generally, privacy coins accomplish what's intended.

I've been following McAfee on Twitter and he has taken up temporary residence in Cuba with plans to help their government move to crypto.

No matter what your thoughts on Cuba are (I disagree with him about Cuba on roughly half the issues) this could get them out from under our thumb. However, being free from sanctions will limit the US's ability to influence globally. Might be a good thing or a bad thing, with varying degrees.


Little Trump
Alabama Fan
Member since Nov 2017
1756 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
You get it

Thanks for simplifying


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thelawnwranglers
LSU Fan
Oakland, NJ
Member since Sep 2007
23813 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

One of the appealing aspects of crypto currency is that it's not centrally controlled. Nobody can arbitrary adjust the supply/demand of it. 

The Fed manipulates the money supply and can easily botch things, both accidentally and on purpose.



Always assumed it was more about it being less trackable



thelawnwranglers
LSU Fan
Oakland, NJ
Member since Sep 2007
23813 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

Bitcoin was created in the wake of the recession. 

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 

That’s the quote the founder put in the first block of bitcoin.





Interesting


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Iosh
Texas A&M Fan
Bureau of Interstellar Immigration
Member since Dec 2012
18935 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter


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10
Bunk Moreland
Michigan Fan
Detroit, MI.
Member since Dec 2010
24620 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
So, he's a Fed cuck?


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53
Little Trump
Alabama Fan
Member since Nov 2017
1756 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
I can help with that “divestment” anytime you’re ready!


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01
Brosef Stalin
LSU Fan
Member since Dec 2011
29766 posts
 Online 

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

and based on thin air.

The dollar is based only on the government's word.


buckeye_vol
Ohio State Fan
Member since Jul 2014
31744 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
quote:

Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.
I agree with this, but I think their technologies have some real benefits if they weren’t treated more like equities instead of as a currency. And besides the value of any form of currency (crypto, FIAT, gold, etc.) seems kind of abstract and a bit out of thin air, at least to me.
quote:

Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity
Sure, but the problem isn’t the crypto, just like the problem isn’t the dollars that criminals use either. It’s the crimes themselves. I hate when people make the argument for more government intrusion in everyone’s lives because something happens to used by bad people. The argument should be based on the thing itself.
This post was edited on 7/11 at 9:28 pm


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