Biden "quietly" trying to "destroy crypto".
Now, whats hilarious is, what he plans to do to "destroy crypto" Is not going to destroy crypto. It's just going to make MINING in the USA a harder proposition to be profitable... this only hurts America and Americans. China and Russia will dominate the BTC network mining power and will earn all of the profits from it.
Meanwhile the entire world will still be using it, as well as Americans.
This measure has absolutely zero ability to "destroy crypto". This is purely a ploy to hurt Americans, and only Americans.
And whats even better? Trump is supporting Bitcoin and crypto. Calling it a valid currency and that he won't try to hamper it.
So I ask everyone in the back of the room... Do you still think bitcoin is not part of the plan, or are you starting to see what I and many others on here saw years ago... that Bitcoin is likely going to be what replaces the current system... and that new system takes all control away from the Fed and Govts.
They're terrified of a store of wealth outside of their control...
https://twitter.com/MacroScope17/status/1769400435188601164
The other question I have in mind is:
If miners have to pay a 30% tax equal to 30% of the electrical cost... Does that negate the tax they already pay on their gross profits from mining itself?
Because if it does... then it actually will have almost no negative impact, might even make mining more profitable in America than it is today.
Ummm he’s not exactly quiet about it.
The ripple lawsuit started right before Biden got into office.
How is bitcoin any more valuable than a Federal Reserve Note?
Neither have any value above the arbitrary trust of the people using them. There are no valuable assets backing either one.
Gold destroys the Fed. A gold backed US Dollar destroys the Fed Note and bitcoin.
Digital currency is the road to the beast system.
Bitcoin cannot be printed from thin air. That’s why it’s more valuable than a fed reserve note.
Gold backed dollar doesn’t destroy the fed. They CAN STILL print new dollars. Yes this will inflate gold value but what happened last time??? Gold was confiscated by the populace.
The beast system can be implemented with any currency.
That's not 100% true. BTC can fork, which does exactly that...creating money out of thin air...and it's already happened a few times in the past. Let's not even talk about ETH where they can legitimately add more coins to it's total circulation at any time.
I have crypto bags, but we shouldn't ignore it's faults too.
Sure BTC can fork and has twice before at least.
The thing is, the miners stayed mining the true BTC.
And if anyone tries to fork to a “new” BTC that has a higher supply… the miners won’t adopt it.
This is why it is so great. It is a truly decentralized, and actually democratic system.
No single person can decide to do anything.
And I’m only talking about bitcoin here, not eth. Obviously eth has no max supply… :)
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