LIVE: President Trump Delivers Remarks at Bitcoin Conference in Nashville
(rumble.com)
₿ DECENTRALIZE THE FROG 🐸
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Is Bitcoin tangible?
Is it Constitutional?
Is it a pyramid scheme to enslave those who don't have the knowledge of it?
Is it safe? What does it depend upon? Energy?
How does it fit in the 20 things on Trump's platform, particularly the item to make the U.S.Dollar the world currency? Or did I read that correctly?
Is Bitcoin minted?
It does not "depend" on energy. MINING IT depends on energy. Once it is mined, the energy used to mine it is gone forever. You can never recoup that loss.
As tangible as the dollars in your bank account. Arguably more so, since you can actually hold your own private wallet and put it on physical storage.
Why wouldn't it be? It's a transparent decentralized ledger with a finite supply that is not controlled by anyone so no one can manipulate the supply like the Federal Reserve does with the dollar. Just like no one can print more gold out of thin air, the same is true of bitcoin.
BTC was originally freedom money but it was hijacked and has been turned into something it was not designed to be. It was supposed to be peer to peer digital cash, but the peer to peer function has been degraded to the point that it's impractical to use it that way.
If you're talking about security of your own funds, it's as safe as you make it. If you're talking about the network as a whole, it's safe as long as anyone in the world is maintaining at least one copy of the blockchain. The entire internet could go down and yes it would still be safe. Energy is a factor only for miners.
I don't know the 20 things you're talking about, but as far as the dollar, if it became tied to BTC like it used to be tied to gold, then the dollar would become sound money once again.
It is mined, not minted, and anyone with the resources and desire can do it. There are no specially designated entities who can punish you for mining without a license.
What kind of physical storage? A safety deposit box?
Where is the ledger? Who has access to it? Can it be corrupted?
Who owns the ledger?
How do you spend bitcoin at a farmer's market or a kids school fundraising popcorn sales?
How does one know how much bitcoin they truly have? Is Math required? Or is counting sufficient?
Does the value of bitcoin change? Why? Who sets its value?
Is it true currency or currency already corrupted by fraud and misrepresentation?
Link to the 2024 RNC 20 point platform: https://www.presidency.ucsb.edu/documents/2024-republican-party-platform
(Truth stands up to scrutiny.)
What is required to be a bitcoin miner?
Lots of options: Encrypted thumbdrives, specially designed hardware wallets, an old cell phone, and for backups you can etch your private key into steel.
Anyone can download the full node software and retain a copy. It's completely public and permissionless. No one owns or controls it. There are tens of thousands of copies around the world, all constantly checking each other to make sure it's not corrupted.
No one!
Just talk to the merchant, have them set up a wallet and then scan their QR code.
The wallet software automatically keeps track of your balance. If you have multiple wallets or coins other than BTC it gets more complicated but there are multicoin wallets that support that too.
No one "sets" the value. it's determined by supply and demand. BTC max supply is 21 million, released according to a predetermined inflation schedule over the next ~140 years, USD supply is essentially infinite, therefore BTC is deflationary over time relative to USD.
Since it can't be directly controlled, TPTB have tried all kinds of tricks to manipulate the market. The biggest issue is Tether (USDT), which is basically a private entity that prints its own tokens and claims 1 USDT = 1 USD, but they have no backing whatsoever, and they will use this to buy up BTC when economically convenient for the big institutions. For whatever reason, people just accept it, but it is the elephant in the room when it comes to BTC's "store of value" proposition.
Thank you for your patience with my questions. I have a few more if you are willing.
How does bitcoin affect the money supply now and in the future? Will economic reporting, banking, and insurance industries have to change to support and include bitcoin? Will it be costly? Will it contribute to further inflation due to these implementations costs flowing into the costs of goods and services passed on to already strapped consumers? Will utilities costs increase to families because of the AI and bitcoin energy consumption?
Will bitcoin be mandated? Will it be like the Electric Vehicles of the financial industry?
No. Can it become constitutional? yes.
Think of what Trump said about the Republic ......Listen carefully.
Yes. But everything is. It is called supply and demand.
No. If you have no knowledge, it is better to stay off. That said, obtaining knowledge is a matter of effort and desire. It is your choice to know.
Start small. Test it.
On energy for sure. Then also Internet access, and .....
But remember: it is an asset. Not a payment system anymore. If you want to pay something, use Bitcoin cash (BCH). You can be up and running within 5 minutes. And ready to receive payments within a second against a 10th of a cent. If you want to be secure and anonymous: use Monero.
Safety depends on your threat model, and frankly, on your own behavior.
Is it skilled labor? Does it come out of the ground? Then it's worth nothing... just like FRNs or any other currency.
The nakamoto or whatever made up name is bs, Putin is behind it and the goal is to hurt the dollar.
Blockchain technology is it's only redeeming quality and BTC doesn't have a monopoly on that.
I'm comfy with my physical assets chained to a pitbull with AIDS.
Putin, really?
Yeah really.
I see lots of dv fags 👋🏻👋🏻👋🏻
You can't dispute anything I said... voting with your emotions like a fag again.
Ain't worth squat when the power goes out..."No no trust me bro it's in my wallet online..." 😂😂😂
Eagles, buffalos, brass and lead get food, fuel and necessities EVERY time, everywhere. "Bro trust me...muh wallet thing" Sorry. Tangibles only. I still haven't seen any "Cash for BTC" shops around...you?
Are people really so retarded they can't see the only reason Trump is mentioning BTC is to get Bernie bois and youngsters on the Trump train? Duh ... tell me you're smart enough to at least see that.
BTC... it's like a religion with these people..."trust me bro..." You guys crack me up.
Some things people just have to seek out knowledge themselves. Just as we sought out the truths that brought us here.
I could fire back with some insults but I do actually know how to control my emotions.
Your system doesn't work. Most people buy shit online, and, as much as I love silver/gold/etc., you aren't doing that with coins. Like, I guess if you sit at home all day prepping your system works, but most people don't do that and that will never become the accepted financial system countrywide.
Even in a best case scenario where people start getting outside and buying almost everything locally, there still needs to be some way to transfer money online for certain things.
Maybe instead of worrying about "muh coronal mass ejection" or some other wildly unlikely nonsense, you could actually research a comprehensive solution and what that may look like. You've already got long-term blackout covered; what about other scenarios?