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MrCarton
UNO Fan
Paradise Valley, MT
Member since Dec 2009
20146 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


Well, no, it's not bull shite. It represents the world's strongest consensus, and thus, anything recorded on the bitcoin ledger enjoys the benefit of that fact.

Bitcoin is certainly not competing with the dollar for all the reasons that are obvious, but that doesn't make it bull shite.


zatetic
Missouri Fan
Member since Nov 2015
3988 posts

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

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


Crypto will be as corrupt as any currency because the people who have corrupted the other currencies can just buy up the crypto market and do what they want. This is why crypto is more corruptible than a government currency. At least you can theoretically have the government secure the currency. Once an old money whale lands in on a crypto they can alter the market place because they don't need that money.

It is nice though if you are in early on the crypto or before one of the runs.


MrCarton
UNO Fan
Paradise Valley, MT
Member since Dec 2009
20146 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


Well, I think he means that it's total supply will always be constant, while the total available supply will always decrease over time.

quote:

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.


Distributed ledgers as currency are probably not far off, but it won't happen the way it was envisioned originally. Distributed ledgers are truly functional right now, today, as things other than currency. Factom is a good example of this.

Iota is my favorite right now. At minimum it's great idea.


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MrCarton
UNO Fan
Paradise Valley, MT
Member since Dec 2009
20146 posts

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

This is why crypto is more corruptible than a government currency. At least you can theoretically have the government secure the currency


Why can't you theoretically have a government control bitcoin?


zatetic
Missouri Fan
Member since Nov 2015
3988 posts

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

Why can't you theoretically have a government control bitcoin?


Well I suppose you could but I always thought of crypto as being not the government. I feel like at that point it is just electronic dollars akin to just using credit/debit cards


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Bass Tiger
Missouri Fan
Member since Oct 2014
12098 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. Bitcoin was mentioned by the POTUS and Fed chair on the same day. Not bad for “thin air”


Does anybody really believe the Federal Reserve/Global Banking cabal is going to allow crypto currencies to play in their sandbox?

Long term it’s not gonna happen.
This post was edited on 7/11 at 11:41 pm


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

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

Does anybody really believe the Federal Reserve/Global Banking cabal is going to allow crypto currencies to play in their sandbox?

It’s definitely possible we start seeing attempts to ban it but I think it’s too late and too hard to contain. Libra is a different story.

And truly they really won’t have a choice once the global banking system finally destroys the world economy anyway.


Huge Richard
Georgia Fan
Member since Dec 2018
1186 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Trump sold at $3,100?
This post was edited on 7/12 at 12:47 am


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30
Seeing Grey
Member since Sep 2015
282 posts

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

Why can't you theoretically have a government control bitcoin?


Hypothetically, let's say a country bought 75% of Bitcoin for the billions in market price. Then they started to manipulate it against the will of the market. Bitcoin would be forked and the market would move to the better digital correct, thereby insuring that the bad actor lost significantly in the process.


IceTiger
USA Fan
Really hot place
Member since Oct 2007
19524 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Good, maybe libs will flock to bitcoin...


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Huge Richard
Georgia Fan
Member since Dec 2018
1186 posts

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

75% of Bitcoin


Nobody has that much cash laying around lol.
This post was edited on 7/12 at 7:11 am


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GeeOH
LSU Fan
Louisiana
Member since Dec 2013
11755 posts
 Online 

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.


LOL. Mf'er is a genius with money, but surely you know more about a currency
This post was edited on 7/12 at 11:38 am


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03
4quartaBamaball
Alabama Fan
Milky Way Galaxy
Member since Nov 2015
921 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Reading between the lines Trump is both dismissing cryptocurrency as well as Federal Reserve notes.

quote:

which are not money, and whose value is highly volatile and based on thin air.


Similar to Federal Reserve Notes.

quote:

. 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 is a shot across the bow to the Fed, The US Dollar is not the same as a Federal Reserve Note US dollar. The National debt is in Federal Reserve Notes and that debt will never be paid back.


If Trump is the greatest President of all time, by 2024 he will have broken the Federal Reserve and granted money valuation (printing) back to the United States Congress.



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MoarKilometers
Florida Atlantic Fan
Member since Apr 2015
6184 posts

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

Bitcoin isn’t really anonymous anymore

It never was. Blockchain has always been an open public ledger. People may have felt it was anonymous... but they were wrong. First feds to figure out who ran the silk road were in fact the IRS. And if I remember correctly that money was being traded at mt gox, based in Japan.


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10
CapperVin
New Orleans Saints Fan
Member since Apr 2013
9369 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
Haha, wonder who tweeted that for him as we know he didn’t. But I agree with him and think cryptocurrency is trash


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MrCarton
UNO Fan
Paradise Valley, MT
Member since Dec 2009
20146 posts

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

Hypothetically, let's say a country bought 75% of Bitcoin for the billions in market price. Then they started to manipulate it against the will of the market. Bitcoin would be forked and the market would move to the better digital correct, thereby insuring that the bad actor lost significantly in the process.




The state doesn't have to buy up bitcoin to control its use.

Bitcoin is a public record of transactions that can be tracked and analyzed in the most precise detail possible. You target users.


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Sunbeam
South Carolina Fan
Member since Dec 2016
2151 posts

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

Well, no, it's not bull shite. It represents the world's strongest consensus, and thus, anything recorded on the bitcoin ledger enjoys the benefit of that fact.

Bitcoin is certainly not competing with the dollar for all the reasons that are obvious, but that doesn't make it bull shite.



Somebody remind me again. How many Divisions does Bitcoin have?


Jack Prenderville
Alabama Fan
Atlanta
Member since Jul 2019
183 posts

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

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


It's actually backed by our Military and Treasury. Either of those fall and it will be worthless.


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Loserman
LSU Fan
Member since Sep 2007
15443 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
As well as any thinking patriot should

Cryptocurrency if it becomes truly successful will help usher in the borderless one world government with a single currency. It will help destroy the nation state


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stelly1025
LSU Fan
Lafayette
Member since May 2012
3546 posts

re: Trump is shitting on bitcoin/cryptocurrency on twitter
As he should. Crypto is nothing, but a pump and dump scheme.


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