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DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7368 posts
 Online 

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

Always assumed it was more about it being less trackable

It was back in the Silk Road days but things have changed a lot. Bitcoin isn’t really anonymous anymore (some others are).


ProbyOne
USA Fan
Louisiana
Member since Dec 2004
1650 posts

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

Trump is shitting on bitcoin/cryptocurrency on twitter


Good. “Mining” is such a waste of energy.... and quantum computing will make it worthless anyway.


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11
DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7368 posts
 Online 

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

I agree with this, but I think their technologies have some real benefits if they weren’t treated more like equities

How are they treated like equities? Taxing under capital gains?


IllegalPete
USA Fan
Front Range
Member since Oct 2017
6732 posts

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

Nobody can arbitrary adjust the supply/demand of it.


In theory yes. However it was manipulated like a mfr in 2017.

A handful of unknown whales increased the demand 1000x and then cashed out in January 2018 tanking the entire industry.

Also, 99% of the coins were nothing more than a snazzy website, a copypasta white paper, and online shills creating demand.

I believe in the concept of crypto but it is a long way from actually achieving the intended purpose. I am not smart enough to know how to get from here to there, but look forward to the progress.
This post was edited on 7/11 at 9:33 pm


14&Counting
Hawaii Fan
Manhattan Beach, CA
Member since Jul 2012
20137 posts

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

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



Which is why Bitcoin is bullshite


BeefDawg
Georgia Fan
Atlanta
Member since Sep 2012
3026 posts

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

I’m going to have divest my 27,000 bitcoins. Thanks Wick for the tip early on.

So you’re worth around $270 MILLION currently?

Sure.

I have 17 bitcoins with an average cost of $3,365 and thought I was doing well on RoR.


Little Trump
Alabama Fan
Member since Nov 2017
1777 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
$310,000,000!!!


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10
sean5340
LSU Fan
Houma
Member since Aug 2011
417 posts
 Online 

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

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



He's obviously not a fan of the fed. Pretty obvious to me.


Sidicous
LSU Fan
Middle of Nowhere
Member since Aug 2015
8294 posts

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

Not bad for “thin air”
The US dollar which is backed by "hot air" specifically, full faith and credit of the US Government.

Now then, it has been demonstrated fully for nearly 3 years running the US Government has tried to overturn the results of the latest Presidential Election. The Democrat Party has attempted by all means to obstruct, and then add in the $20 Trillion debt...tell me more about this faith and credit stuff!

About the only Faith I have in the US Govt. is for the Legislators to act in their own self interests. Credit? Yeah I think the USA has exceeded its credit limit and we really need to take the charge card to run it through a shredder.

TLDR: "thin air" > "hot air"


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01
Little Trump
Alabama Fan
Member since Nov 2017
1777 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
You made a cool $100,000 in a short time!


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DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7368 posts
 Online 

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

He's obviously not a fan of the fed. Pretty obvious to me.

Well he just shite on the Fed’s only competitors


Diamondawg
Mississippi St. Fan
Mississippi
Member since Oct 2006
17804 posts

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

I’m going to have divest my 27,000 bitcoins. Thanks Wick for the tip early on.
Damn - you run with the Epstein crowd?


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20
Little Trump
Alabama Fan
Member since Nov 2017
1777 posts

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

by DallasTiger11
quote:
He's obviously not a fan of the fed. Pretty obvious to me.

Well he just shite on the Fed’s only competitors


I sorta view it as crypto competing with all fiat monies throughout the world!

Venezuela capital has devalued 99.9% in short time. So smart money there went to crypto before they lost all and they’ve done very well

Crypto is worldwide with market cap of approx 1/3 trillion dollars! Too big to fail

It patiently waits for US to pick another incompetent like obama to explode the dollar


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20
Ollieoxenfree99
Texas A&M Fan
Member since Aug 2018
4351 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Does everyone understand that they can ignore the President's tweets? That these are his opinions and he'd rather post there than be misrepresented by a dishonest media?

It's not like he signed an EO outlawing Bitcoin.


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01
buckeye_vol
Ohio State Fan
Member since Jul 2014
31763 posts

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

How are they treated like equities? Taxing under capital gains?
Well I believe they are treated the same way, but I meant people are trading the cryptocurrencies like they are an investment like stock or tangible commodity instead of using them for their purpose (e.g., payments).


TexasTiger89
LSU Fan
Houston, TX
Member since Feb 2005
17862 posts
 Online 

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Wrong. He is shitting on Facebook.


AUsteriskPride
Auburn Fan
Albuquerque, NM
Member since Feb 2011
17019 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Here's some news for you Trump, all fiat currency is based on thin air. It's all only as good as people feel about it.


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40
buckeye_vol
Ohio State Fan
Member since Jul 2014
31763 posts

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

Wrong. He is shitting on Facebook.
How is it wrong? He did single out Facebook, but he specifically started his criticisms with the topic of the thread:
quote:

I am not a fan of Bitcoin and other Cryptocurrencies


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Gr8t8s
Member since Oct 2009
2237 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Trump loves bitcoin. Trump says bitcoin sucks to get the left to talk about how great decentralization is. Left tries to legislate in favor of bitcoin. Trump signs bill.


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21
DallasTiger11
UCLA Fan
Los Angeles
Member since Mar 2004
7368 posts
 Online 

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

Well I believe they are treated the same way, but I meant people are trading the cryptocurrencies like they are an investment like stock or tangible commodity instead of using them for their purpose (e.g., payments).

Gotcha. Yeah unfortunately (fortunately?) they have almost all become investment vehicles because of the potential gains but that will be shifting soon with the tech getting better and stablecoins taking off.


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