Trump says that we're going to embrace crypto
(twitter.com)
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Hope you have a farm, guns, and ammo. Because if an EMP or a good hack happens, crypto is going to be the LAST thing on peoples minds.
If that even happens, then we're all going to be sent back to the stone age. Stupid thing to worry about imo.
Agree ^^^ it's the same ridiculous argument over and over. Doubters miss the whole point of Bitcoin. All cryptocurrency is not the same. But, take time to understand what Bitcoin stands for and everyone here would be on board.
As long as the same crooks are in charge I will never be on board. As long as they can just tax the shit out of everyone for what they want I will never be on board.
They cannot garnish your Bitcoin if you refuse to pay taxes.
Sez who?
Funny little story here. I'm a network engineer with a mid size US based company. A few weeks ago I and a few of my collogues were working on an issue at our Berlin office. Did a trace route from our US HQ to our Berlin office over an encrypted VPN tunnel and SOB, something in the MIDDLE of our encrypted tunnel answered. The IP address that responded was 6.12.47.200. You can go to Arin.net to see who that is. DISA. They since turned off their ICMP replies but it shows a few things. First, it is there, decrypting our traffic and I'm certain recording it. Second, it's FAST. Had it not replied I would never know it was in the middle doing it's thing.
If they can almost transparently hack an encrypted VPN tunnel, who says they can't hack into a Bitcoin wallet?
100%. It’s not the block chain you have to be concerned about with Bitcoin (or most crypto). Its the inline WALLETS those sit in. Hard wallets are the way to go.
To put this succinctly, the reason Bitcoin is so revolutionary is that ownership and validation of ownership and quantity are all distributed.
No other bartering medium offers that, not even gold and silver.
Nobody is “in charge” of Bitcoin. That’s the beauty of it. Exchanges have owners, but not the platform itself.
It removes the need to trust someone with something they can’t be trusted with.
Security is a legitimate concern with it. Method of hodling is a legitimate concern with it, but not so much the platform itself.
And none of that protects from a corrupt system that will in turn just tax thr living shit out of you when they want money since they cant print willy nilly. You pay or you get prison. Or they take away everything that was meant for the people and shift funds elsewhere. Fix the corruptionor it will never matter. Its also a pipe dream to think they wont have controls in place. Does anyone really believe the people who have built every system to track everything you say and do will stop at being able to track your money?
How much have you read up on Bitcoin?
It’s a distributed ledger system.
Take that and match it against the characteristics of money.
The same system that allows money to be traceable would prevent them from being able to counterfeit in their private ledgers.
You're still missing the point of what Bitcoin stands for, Cherokee.
No. I simply do not ignore real world application/implementation. Which the pro crypto crowd seems to ignore for a promise. All while ignoring the largest elephant in the room World wide crypto is the largest step needed for one world governance. And poof. Satan has his control mechanism in place.
The beauty of Bitcoin (which is not the same as other cryptocurrency) is that it is DECENTRALIZED. Nobody controls it. It can't be diluted. It's protocol is transparent. And, small individual investors hold the bulk of it. It is the best store of value at this time.
right. old guard etc etc.
only doom if you expect to lose.
👌👍
It stands for diverting demand away from gold and silver.
Who audits the gold supplies? Can you forever trust those who audit the gold?
There is no need to audit gold supplies. Metal coinage is money, nothing else.
Money is just energy.
Metal coinage has been the best form of money to date. It likely has a place moving forward.
Bitcoin is more auditable, requires less trust, and probably isn’t dominated by bank and cabal ownership.
Re your last line, I grant you gold is dominated by bad guys like the cabal, not to mention Ivan and the slants. If we acknowledge gold is money again, we're acknowledging that these parties are richer than we will ever be. Which is why I think the gold standard is a red herring, and the real peoples' money is silver.
It stands for freedom outside the centralized money system.
That's what gold and silver stand for. After all, the last time we were free, we used gold and silver as money.
Crypto is the cabal's response to the price of gold and silver climbing unacceptably after the 2008 financial crisis. They needed something to soak up the demand.
All crypto is not created equal. Real bitcoiners call all other cryptocurrency shit coins for a good reason.
I once thought it stood for ordering weed over the interwebs.
One strong EMP blast over North America will cause serious damage, but it will differ by regions. In some areas, it will cause serious damage to electrical power. In other areas, only 40% to 50% of grid will be incapacitated. In some better prepared grid areas, only 25% of electrical capacity will be incapacitated. Preparedness and some luck will play a role.
The problem is that, if an enemy sent an EMP... it will involve more than one. If it happens at all, there may be 4 or 5 blasts. Quintuple-tap.
They would have to send multiple balloons and we would never allow a simple emp balloons to drift to our transformer stations /s
Satillites can run in space while an EMP goes off on the ground.
Or perhaps a massive solar flare? Boom boom boom boom!
You won't even survive a solar flare.
I have colored myself skeptical on crypto for many reasons, but not one of them warrants government controls on crypto. Whether its gonna be the future or just a dud in the end, its gotta be free and if Trump is on board with it, it will win over. hearts of many dream eyed people!
I see it as another avenue towards Fedcoin / CBDC. I want anonymity. I do not want the federal government being able to control how when where or what I spend my currency. I also want something tangible that is backed. I know everyone says that US Currency is going to end or devalue to a point that it's worthless, it still has the backing of the Federal Government.
I am completely ignorant on bitcoin or other crypto other than knowing the incredible losses when people do not hold the crypto themselves. That being said, I do not see what tangible backing it has to protect it's value. I understand it's limited and there is only so many can be produced. I also know I need to study it more, but from my limited smooth brain, if several key governments limited it's use or like ponzi schemes, if everyone pulled their value out let's say due to a global crisis, what intrinsic value is backing it ?
What "intrinsic value" backs an Excel spreadsheet? In ancient rural villages, what "intrinsic value" backed the ledger that the village headman kept saying who owed what? That is what crypto is. Nothing more than an incorruptible, digital ledger. It solves the Byzantine General's problem of trust.
The problem is thinking of any money as something of intrinsic value. It isn't. All money, fiat cash included, is merely an accounting mechanism that has value solely because people decide to give it value.
If you want intrinsic value, only direct barter can offer that. Even gold is just a rock. Nobody values a rock...they value what that rock represents, and it works as an accounting mechanism because of its intrinsic properties.
You are still talking/thinking about money like it is "something". Money is nothing but an abstract accounting system that tells you how much of the planet's aggregate resources you are allowed to have. Ultimately, people assign value to the specific barterable items based on their desirability at a specific moment in time (i.e. the price, which can and does fluctuate), and the accounting chits are appropriately marked. That can be by passing a paper note, updating a ledger, or flipping bits in a computer.
There is never, ever, EVER intrinsic value to money. It is always and everywhere ONLY an accounting system. A ledger. Just like Bitcoin.
Don't confuse money with barterability. They are not the same things.
...well said
Gold has intrinsic value because it does not corrode. Gold plating adds intrinsic value (and quality) to anything it is put onto. Therefore, gold always has a demand, and intrinsic value.
Crypto is just a technology. It can be used in millions of ways in addition to Bitcoins. CDBC is just a digital currency technology without necessarily having the crypto component to it.
"Crypto" aspect refers to the use of encryption in such a way that the ledger can be stored publicly without worrying about unauthorized access or tampering.
Think of it as a coast to coast highway - like route 66. You take the same highway whether you want to get off at California or Arizona or Texas. Where you end up will depend on exactly what exit you take.
The real crypto currency that is backed by some real assets, that protects privacy of people while at the same time provides transparency of government spending, with no central control is yet to be unveiled. High probability that its already in development.
This is my primary gripe, the existing cryptos that in my limited knowledge, is backed by zilch. If you're old enough, 15 years ago or so, people were flipping - collecting beany babies, cheap shit that can be produced over and over, with a tangible value of making some kid smile at best. I knew of two people who dumped 10's of thousands into buying and holding this shit for part of their retirement. I am sure you can see how it ended. The difference I see between bitcoin and this, is at least they got a stuff animal out of the deal.
Now back to something backed, I am with you on the anonymity at a high level. With something backed, I would feel a bit better, like the proposed fedcoin etc, but in the right hands and controls. I still see risk because I am old enough to remember when people never thought the standards of encryption would cracked. I get most of your points and I have more understanding to do on my side. I like the control aspect of transparency, that provides a whole lot clarity and honesty but still see too many risks, which admittedly, a lot is probably due to my lack of knowledge. I still prefer paper, but as you say, having a ledger prevents or provides a window to see the printer go burrrrrrrr.
Thanks for taking the time to provide some insight.
Let me say you are thinking about crypto far better than most people I know. You are asking all the right questions.
Also a crypto that does not have an intrinsic value is probably not gonna cut it. Only intrinsic value digitally, is computation and storage power. So a crypto that is implicitly backed by computational power - a distributed computational network, for instance - is probably one way to do this. The governments can purchase cryptos on this network to run their infrastructure, using their assets as backing - making it a true asset backed crypto with intrinsic value.
You are spot on Encryption. The only solution, honestly, is a off-world technology that we will never be able to crack. Probably something very esoteric.
BUT BRO CRYPTO
In agreement, crypto has the same sustainability as electric cars. The same weakness, the same autistic following, the same manipulation ability (no, nothing ever in this world besides God himself is outside of the realm of tampering), and the same deception of hope. But there are people including mods on this board who will persecute you for having this opinion, so tread lightly, unfortunately.
Everything is gone without electricity.
Yeah… it would be total chaos and mayhem. No one will be concerned about metals, just bullets.
Yes but for tens of thousands of years one was obtainable and one wasn't.
You're not surviving a grid collapse anyways, so what does it matter?
That’s what I’m saying.
Not that quantum computing will one day break ALL passwords / algorithms including Block chain in one day.
We already have Quantum Computing Resistant algorithms and cryptos with many more under active development.
Also if someday someone finally makes a working practical Quantum Computer It could be used to make a more secure crypto.
Chicken and the egg :
if it hasn't already been used to steal ALL block chain material
No need to steal the block chain material.
Just become a node and you have access to all of it to download
Then you can have your magical quantum computer crack all the passwords and encryption and transfer all the amounts to addresses that only you control.
Just one more thing.
Now you just have to convince ten thousand+ other nodes that still have the original blockchain to all switch to your new blockchain with all your changes.
Nukes will fly if quantum computing ever becomes a thing. Again, another ridiculous argument like the EMP.
yeah those darn conspiracy theories.....
When quantum becomes ubiquitous everything will change. Not just crypto.
That is, of course, a disconcerting possibility reliant on whether or not said encryption ever gets tangibly updated.
Who even knows where PC components will be in 40 years.
40 years....that's some serious hopium
Of course - the new currency will be an asset backed digital currency...its the only way forward or else we are toast with the cabal's digital currency version. I believe the US debt clock is showing us what those assets will be - there are 10 different ones.
I also believe GME is behind the development of the infrastructure for this new crypto / digital currency. . Let's see, but it does seem we are getting closer to the end of the fed and fiat. Fiat is over one way or another - we are insolvent.
"...its the only way forward or else we are toast with the cabal's digital currency version"
Or we could just...I dunno...do without digital currencies altogether, and just stay with paper money backed by gold.
It's not a choice between "our" digital currency and the Cabal's digital currency. It's a choice between any crypto and no crypto.
Stay with? Money backed by gold doesn't exist.
False hegelian dichotomy they always want to box us in with
Agreed. Paper back by gold or silver/gold coin as a currency. I do not want anything to do with digital/technology.
came here to say this^^^ have an upvote
No, he said:
And I sure hope we don't as it's vaporware.
“We’ll stop it (anti-crypto regulation) because I don’t want that, I don’t want that”
That's not embracing it on the same level though, and is consistent with Trump's anti-regulation stance.
We don't need regulation on crypto currency, regardless of whether it becomes a major payment method globally. Regulation just leads to abuse, e.g. taxation.
I have a friend sitting on millions in crypto and every time she wants to take from it, the taxation on it is just awful. Imagine if they could do that directly, like they want.
Like the retirement savings, these evil creeps get 10% of it if you take it before our (their) retirement age, people die before that. Definitely demons.
Wrong about it being vaporware. You haven’t done your homework.
There isn’t a computer on earth you can trust.
You can trust the code. Thats the good thing about open-source software. It’s just math. You can trust math.
Intelligence agencies slip backdoors and compromises into oss all the time. Sometimes it lies hidden in the code for decades, probably being exploited all the while. There isn’t a piece of software on earth you can trust. Plus they also make ALLLLL the hardware, which you also cannot trust.
That’s the cool thing about blockchains, nothing in the code can be changed without everyone knowing about it. Thats the whole point.
It doesn't have to be changed. You can rest assured there are dozens of fatal flaws baked right into the software, right now.
There isn't a single piece of software on earth you can trust. With metal money, one need only trust in God.
You sound like someone who doesn’t know a thing about programming or code.
Any programmer can read the Bitcoin code and check for any issues like you describe.
And the whole point of blockchain is it makes the code tamper proof.
Well I’ve been doing software development for 40 years. I also took the online Princeton Crypto Currency course and got an ‘A’’, so there’s that. I probably know how crypto works better than most.
And for the people who like crypto for the anonymity aspect, do you really think a government is going to embrace crypto without being able to track the participants of a transaction? Please!!
I’m guessing you’re the one that needs to do some more homework.
They can track your cashing out of crypto at centralized (licensed) exchanges. But other than that, you can remain anonymous. Thats why, ultimately, we don’t sell our crypto on an exchange, we use it to transact just like we would dollars. This is how we build a counter/parallel economy to starve the Beast.
You need to do your homework Mr. Princeton.
If the government can perfectly track Bitcoin transactions, then tell us who Satoshi Nakamoto is.
Did I say the government can track bitcoin transactions? You probably need to re-read.
However I wouldn’t doubt that the government is, or trying to, track bitcoin transactions today.
Full Stack developer here!
Nice to see another dev out there!
I’m guessing there are a bunch of developers on this site.
That’s awesome!
What is backing bitcoin? No I have not done my homework. The biggest draw from my limited knowledge on crypto is that it's limited and understand they use block chain, but at the end of the day, who stands behind bitcoin's intrinsic value? Is it only the people that hold it? Understand it's portability and having your own cold wallet, but I never got who is backing the value of it and if multiple governments said it cannot be used and the there was a rush to cash out, would the value not be determined by supply and demand? That's the big rub for me and I am up front and honest saying I have not spent the time to look into that and those I know who dabble in it have not been able to answer it for me.
Bitcoin’s value is derived from its protocol, which is built on a scarcity principle, secure nature, and stakeholder interest as a savings technology.
Bitcoin serves as digital gold, offering an inflation hedge and currency debasement protection.
Market cycles and liquidity shifts drive Bitcoin’s price volatility.
Bitcoin security is reinforced because of its high computational power and energy, which protects against potential attacks and bad actors.
Bitcoin has no intrinsic value.
Spidey sense be tinglin...
I just can't see crypto in any form being better FOR FREEDOM LOVING PEOPLE than paper. No privacy. Everything tracked. Intangible money that can be flipped to zero if you don't surrender your will and do as they say.
Tell me how that would not be the case (ultimately) just like everything else that went digital, like OBD2 vehicles etc. I'm listening.
There are non-blockchain versions of crypto where your transactions are fully peer2peer with no global ledger. Just you and the person you’re trading with, instantly anywhere in the world with zero fee. This is likely what is coming IMO, as well as global blockchain ledgers for things like public funds which would serve everyone better if they are publicly visible.
https://youtu.be/hn7aWuerBB8?si=FDA5Mj4tGiKUQsBH
It will look something like this I think.
"paper"
Paper is the reason we are in this mess in the first place. If we can get rid of IOUs by Big Fed, and swap it out for a less than great Bitcoin, I still call that a win because that's stripping the power of money printing.
I am no fan of Bitcoin, not in it's current state, however endless money printing vastly, greatly outranks any issues with Bitcoin I have currently. End the endless.
Paper as a currency existed before the Federal Reserve took over, and while very early in the country's (and even predating it) life the fiat (which intrinsically means it is not backed by anything) lost value quickly, in 1900 we moved to a gold standard, which left bills backed by a specific amount of gold.
From what cursory information I have read, the primary reason that failed was a massive amount of debts to Europe...which led directly to the Federal Reserve taking over in World War 1.
Even after the gold standard was restored for a time, it's clear that converting to fiat was the beginning of the end. At one point, every country had switched to fiat during the first World War.
Hilariously, the second time we suspended the gold standard (for foreign exchange) during the first World War (1915-1917) was when we became part of it, and we were the last country to maintain that standard up to that point. Go figure, war helped destroy us and yet we have continued pushing it ever since.
During the Great Depression, trust was lost in the banks and paper currency, so people moved to coins which today are also fiat currencies, and become less valuable as they inflate everything.
One could easily argue, and they'd be right, that letting banks and a non-government entity control the flow of money was an incredible mistake and far exceeded the concept's original purpose and scope.
But when it comes to crypto, it is a halfway point between a backed currency and fiat. It is not backed by anything physically tangible, but instead a trust that there is a limited amount of it that can be mined, as there is gold. Except there are a ton of different cryptocurrencies, and more have popped up over the years.
The limit in cryptocurrency is also artificial at its core, as (in Bitcoin's case) it was set by Satoshi Nakamoto to stop inflation. Functionally this turned out to be silly in a sense, because the value of a single Bitcoin has risen to laughable absurdity from the people who had initially mined them so readily and easily at one point but I digress.
Bitcoin's true viability as a currency won't be until closer to the end date in 2140.
Contrary to popular understanding, the maximum number of Bitcoins can technically be changed in a sort of democratic process which offers an avenue for nefarious powers to devalue the old fork (21M) and rug-pull to a new fork.
I'll always prefer the gold standard, because it is a physical backing that also has physical uses which keeps the value high. It's not just a commodity or luxury, instead it functions as both. Bitcoin, and other digital currencies, are not backed by anything. It has value because it is deemed to have value, rather than having fashionable or practical applications.
There are other vulnerabilities to crypto which is that regulation through legislation could effectively end exchanges (something that Trump has stated here that he intends to stop) and without exchanges means that the currency falls flat as there is no way to exchange it for goods, pay off
taxesgovernment theft, etc.I think crypto is neat, but it's neat as it is now. The only other practical use could be as an international currency standard, but as a national currency gold backed would be better.
Thank You - well stated and I should have read thru all the comments before I posted.
This is my exact rub on these products. What is tangibly backing it. To me, with my limited knowledge, it's the modern day version of the "beany babies" or a ponzi scheme.
there is asset-backed, value-stable crypto. https://youtu.be/hn7aWuerBB8?si=FDA5Mj4tGiKUQsBH
A gold backed crypto would not work because the gold would have to be stored in known locations to be audited and the government would just swoop in and confiscate it.
That’s why I hate the phones and computers, on the other hand these technologies have helped us to see how evil are these demons.
Crypto is pretty’ anonymous and decentralized. Who’s been lying to you about it boomer
Fuck crypto. Fuck anything that represents my wealth on a digital screen. If you embrace this concept, you're being honeydicked and the rug will be pulled out under you with no recourse.
Weigh the gold and check it dimensions. With a little high school math you can prove it's real.
Well, you can prove the density is correct, but other metals can be alloyed to arrive at that density and then the ingot can be plated.
Then I can drill a hole in it,or take it to my local LCS or call a lead paint inspector and he can shoot it with HIS XRF. If you buy from a good dealer they are good.
Just don't buy at a swap meet or e- bay.
That's weak. You get your gold certified, and it is not difficult to send it through a series of tests. Skin tests, water tests, magnetic tests. There are established physics relating to the weight of gold, and these are well documented. When combined with proper certification, e.g. a reputably and recognizably minted coin, or print on bars with certification, it becomes a high trust precious metal very easily.
Trading in gold becomes difficult, especially if there is no way to mint a currency from your metal, but verifying that your gold is real gold is not very difficult and most gold you would obtain is properly certified in some fashion anyway as you aren't the one mining it and purifying it of impurities.
Gold backed crypto! I’m in!
Gold is gold-backed. Hold the computer bullshit.
Nothing better than watching a young guy get excited by Trump!
About three years ago, Elon Musk told me all I need to know about crypto and Bitcoin's alleged creator, Satoshi Nakamoto.
And then he deleted it.
There it is
Weird timing... I have last night's Pulte event playing on my phone, while scrolling the web on my computer. On my phone, Vivek is telling a story about discussing Bitcoin with Trump, right as I scroll upon this clip of Trump saying we'll embrace crypto.
Is that my sign to buy more?
I've been working since I was 14 and before that babysitting. I was a systems analyst for 40 years. One would think I made good money. Not so. I was working against the failing economy of my state and country.
I've always lived pay check to pay check. One divorce, one widowhood, three kids later and I face retirement on SSDI. I don't have a pension and multiple layoffs stripped my savings. I need just two more years to get my 1300 sqft house (that I've had for 40 years) and 7yo used car paid for. If I didn't have my BF helping me I couldn't make it. He has cancer and I'm petrified of what this world holds for us.
I hope and pray the the "return of the diamonds" will give me a bit of financial security. I fear that we those that have been screwed our entire life will be overlooked in any new economy. All this arguing over Soc Sec and Medicare is scary. Not everyone has a clear cut future. I don't have money to invest in gold, silver or cryto.
Where do I fit in at 62?
These is potential in crypto but currently it seems the bad guys are in control of crypto and I would steer clear of it for now.
Trump needs to get out there with this message. He needs to get it on TV.
I say that because they are covering RFK Juniors supported it quite well.
There is at least a fifty percent chance that this is misinformation, to distract the enemy.
Told all you motherfuckers to buy XRP and XLM.
Does that mean we're not going to have gold coins in our pockets for currency?
They already have that. It’s called Pax Gold.
PAXG is the ticker symbol
Bitcoin is not only the future, it is at the core of the plan.
Nesara/Gesara
Verbatim?
Or something that could be a counter to CBCC?
I will continue to prefer gold and silver, and many bullets.
These are some statements that many will not agree with President Trump, he is not perfect and can make mistakes like any human.
never me.
Buy some Bitcoin guys!
If you haven't checked out Rugpull Radio on Badlands, I highly, highly recommend checking it out, even just the first few episodes where they break down what bitcoin is and why it is so revolutionary
Which one?
Follow up clip to that...
https://twitter.com/WatcherGuru/status/1788373884418294072
I see a 5D chess move here!
Being against regulation is the same as supporting Crypto?
https://twitter.com/WatcherGuru/status/1788377662232084743