there was a time when conspiracy loons would fearmonger about "digital currency" and "cashless society" and yet here we are...
this post was submitted on 12 Jun 2024
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But what if the bitcoin is made on an electric boat that is being attacked by sharks?
Oh yeah. I remember this episode of Mr. Robot
Trump said in a Truth Social post Tuesday. “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”
Didn't COMMUNIST China ban it mostly because it was putting strain on their grid? Not sure how wasting states worth of electricity to fuel a glorified ponzi scheme is going to help with energy dominance but who am I to question the self-proclaimed genius.
They banned exchanges because people were able to move their wealth out of China
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“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday. “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”
I love using social media, but I sure miss the politics of the pre-social-media era. The craziness levels were considerably lower.
I agree with you, but then I just thought of the political eras that gave us Nazis, Stalin and the gulags, Mao and the Cultural Revolution and thought hmm politics could be crazy before, also.
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We do not control USD.
Scammers gonna scam.
Once again Trump proves himself to be a mere opportunist and grifter without principles or convictions. While in office Steven Mnuchin tried to kill crypto at the behest of the banking industry and Trump was vocal against Bitcoin. Once he left the White House he peddled his own NFTs.
without principles or convictions
He has 34 convictions
We all know politicians have no morals. The reason he changed his stance is very simply because the crypto industry very well could get him elected. Crypto is a growing concern for a lot of people and he has to see that.
So...which government got his claws in him this time? Taking all bets.
He must have had some girl pee on him in El Salvador.
Phew, can finally cross this off my short list of things he hasn't been completely hypocritical about.
Bitcoin doesn't move like the stock market. There's no hedge funds to call to naked short a nonexistent Bitcoin Inc in to the dirt. This means nothing.
That said I'd live bitcoin to go to a penny. I'd buy and hodl. I'd buy and hodl hard.
That said, fuck Trump. But not literally because his lineage should be pruned.
Bitcoin has been moving like the stock market since 2020. Big investors got involved, small investors lost trust in stocks. I don't fully expect the current halving to cause the rally like all the other times it halved. That is assuming it doesn't keep bombing shortly after breaking $69,420, what I suspect is a meme sell limit price.
Tin-foil hat time but I'd be willing to bet they have mechanisms to do something resembling naked shorting with crypto. I have no idea what that voodoo might be, but they conjure shares out of thin air for shorting stocks, and they've managed to package crypto into ETFs some-fucking-how so why not. I feel like I'm increasingly noticing that nothing really seems to crash anymore.
Monero is what Bitcoiners thought they bought. It's completely fungible and private just as cash is supposed to be.
Monero is great. Only crypto currency I actually use. Transactions are also waaay cheaper and faster than with Bitcoin.
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Everybody sell. You know how you can't really tell when a stock is going to tank? Well, this time it's like we're doing economics with training wheels. You won't get hurt, and you can see what's coming. You just gotta sell now before the floor drops out.
I'm quite frankly glad to see this, because that means that the United States will have no ability to ban it, what with the ETFs and everything, and as long as you can buy any kind of crypto at all, you can buy Monero. Also, the launch of decentralized peer-to-peer exchanges is helping to give the middle finger to the government.
Edit: I am getting out of the dollar as fast as I can while there are still fools gullible enough to accept a depreciating currency.
.........I'm so out of the loop here. I want to say I disagree with you, because it sounds insane, but I don't know enough about the subject matter to dispute it. What the hell is Monero?
Monero is cash. You cannot see who sent Monero to who or how much they sent. It's completely private. The government has a half a million dollar bounty out for anybody who can break it and it's been out for years because nobody has been able to do so.
Yet another fake currency for drug dealers.
I don't know. Personally, I haven't dealt any drugs using it. But I have purchased groceries for the last year and a half with it. You have a right to be private with your money. Would you want absolutely everybody knowing everything you spend your money on and when you spent it? Forever? Personally, I don't.
"Fake money for drug dealers" is just a general crypto joke from a meme I saw here on lemmy. It just so happens that the flavor of fake money that you fell in love with actually is for drug dealers.
You've got me curious now though. It's apparently important to you to keep the details of your grocery purchase completely private and that's totally fine if it makes you happy. I don't need to understand it to accept it. What I want to know is how far do you go to protect that privacy? Do you give Instacart your neighbor's address? Do you use a fake name?
I haven't gone that far. It's mainly online privacy I care most about, and financial privacy. I mean... I use lemmy, mastodon, proton, degoogled my devices, run linux, DNS level ad/tracker/malware blockers, use Monero, Signal, SimpleX, have no fb, x, insta, tiktok, etc.
As for the whole fake money thing, anything can be money. It's just what people choose to call money. And since I can use it to buy groceries, and pay my phone bill, and pay my insurance, and buy products I want, it is money. You know the money most used to purchase drugs is the US dollar?
Lol, yes I do know that. I've spent quite a few US dollars on drugs myself.
I really was just joking. I'm not judgemental about privacy, drugs, or most things really. I also realize that ALL money is fake money that only has value because we have agreed that it does. If the topic had been short term rentals instead of crypto, I'd have made an "illegal hotel chain" joke instead.
Also, If I offended you I'm sorry. I hope you have a good night (or day if you live far away from me).
Sorry, I might have come off a bit harsher at the end of that last message than I meant to. I get it so often here because so many people want to just bash crypto without ever thinking about any good sides about it.
There's an easy solution for that.... cash.
Can I send an envelope full of cash to Amazon to buy a product? Cash is great for the physical medium if you are in person face to face and can exchange a physical commodity but when you need to exchange value over the internet then cash isn't a real option
Is that how you buy groceries? Because not me.
I buy groceries with Instacart and have them delivered. It saves me money since I'm not walking through the store and seeing all those items I can just get what I need and so I've done it that way for years
.......are you saying your reason for not going grocery shopping in person is because you'll fall victim to impulse buys, and advertising?
No, but it definitely helps. The primary reason is because I'm blind, and so therefore, if I go into a grocery store, I have to ask for a shoppers' assistant to walk around with me and help me get stuff, which is quite frankly a pain in the ass.
Ah, alright, thats different. That I can understand.
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Bitcoin it's nothing else than the way the west it's fighting against the Chinese economy, it's just making money anonymously where there is no money. Better than using the classic central bank method.
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