It has monetary value, obviously, but they don’t want to detract from the dollar. Bad decision as buying more and selling it higher could have helped with our debt.
Yeah. It’s just a derivative of the US dollar. When you buy bitcoin, that money is being used to buy US treasuries, so you are funding the US debt. The government loves it if you buy bitcoin and hates it if you are acquiring gold and silver. When the dollar collapses and loses its purchasing power, so will Bitcoin. Whatever purchasing power bitcoin had will collapse back into gold where it derived its value from in the first place. Just like all derivatives of the dollar will, like stocks, treasuries, real estate… you name it. It’s not that those assets don’t have value. They do. Just not their current purchasing power.
Gold and silver are real hard assets that have intrinsic value of their own. Not just they required energy to produce, but they have real world uses that set a floor on their value. For example, outside of oil, silver has the most patents and industrial uses and is absolutely strategic; in addition to having all the characteristics of money. Bitcoin has none of that. No one needs bitcoin for anything and most people and businesses won’t accept it for transactions. I can take an ounce of gold anywhere in the world, power or not, and exchange it for goods and services.
I don’t know what’s going on with this crypto bullshit but personally I’m not touching any derivatives in a financial collapse. I’m going to hold the original deposit all the derivatives derived their value from in the first place. Gold and silver.
It is a currency that is limited in supply. It is a digital store of weatlh. IF BTC is a ponzi, then all stocks are ponzi schemes as well, also throw in all investments, as they all depend on new money propping things up. Let the market decide anon.
Stocks provide a real return, and provide real world value to people in the form of goods and jobs, dividends, profits etc. BTC is scarce and limited supply, yes. But it is a breeding ground for fraud, not secure, eventually quantum computing could hack “everyone” and steal all their tokens. BTC is software, and in the tech world, new and better software ALWAYS comes out and is adopted, replacing the old tech. THIS WILL happen to BTC, because the bar to entry is LOW AF.. look at the thousands of competitors arising and taking market share from this mythical “scarce” token “BTC”.. actually doesn’t seem scarce when literally thousands of coins are created each Day.. millions of competitors now
Outside of dividends or majority ownership, stocks don’t really do anything.
Fraud is our USD that has lost 98%+ since 2013 and is yhe #1 money used in crime. Bitcoin is an open ledger and with computer forensics being what they are, way too risky to use for regular crimes. There are eay better ones (e.g. Monero, which they are removing from most exchanges because of its anonymity.)
If you can’t handle your BTC keys then don’t buy in, or just buy the ETF.
I think there are quite a few “better” crypto’s for money (e.g. KASPA), but it is excellent for what it does.
We both have our opinion but quite clearly the people and the market have already decided on BTC.
CCP controls over 51% of BTC mining, why are we pumping the CCP bags with our tax money? Also BTC is old, slow and obsolete with no smart contracts... who is retarded enough to use BTC...
I wonder how this ties in with Trump pardoning and releasing Ross Ulbricht. Estimates are that feds seized from 144,336 to 224,667 bitcoin from Ross and/or Silk Road affiliates. 224,667 bitcoin is over $22 Billion at current value.
The American government seized a significant amount of Bitcoin from Ross Ulbricht, the founder of the Silk Road marketplace, though the exact total varies depending on the specific seizures and how they are accounted for over time.
Initially, in October 2013, following Ulbricht's arrest, the FBI seized approximately 144,336 Bitcoins directly from his computer hardware, specifically a Bitcoin wallet found on his laptop. At the time, these were valued at around $28.5 million based on the exchange rate in 2013. This figure is widely documented as the primary seizure tied to Ulbricht himself.
Additionally, earlier in 2013, the FBI had seized about 29,655 Bitcoins from Silk Road accounts during the initial takedown of the site, bringing the total seized in connection with the Silk Road case at that point to approximately 173,991 Bitcoins. These initial seizures were worth over $33.6 million at the time.
Later, in November 2021, the U.S. Department of Justice seized an additional 50,676 Bitcoins, valued at over $3.36 billion at that time, from James Zhong, who had stolen them from Silk Road in 2012. While these were not taken directly from Ulbricht, they were part of the Silk Road ecosystem, and Ulbricht agreed in 2021 to relinquish any claim to them as part of a deal to offset his $183 million restitution debt. This brings the total Bitcoin associated with Ulbricht and Silk Road, either directly or indirectly seized, to over 224,667 Bitcoins across these events.
However, focusing strictly on what was seized directly from Ulbricht himself, the most consistently cited figure is the 144,336 Bitcoins from his personal wallet in 2013. The additional amounts either came from Silk Road’s broader operations or from subsequent related seizures, not all of which were in Ulbricht’s possession at the time of his arrest.
Thus, the American government seized approximately 144,336 Bitcoins directly from Ross Ulbricht in 2013. If you consider the broader Silk Road-related seizures tied to his case, the total rises to around 173,991 Bitcoins from the initial 2013 actions, with further amounts like the 50,676 Bitcoins recovered later from Zhong linked indirectly through legal agreements.
“Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion in lost value.” Hmm,17, billion…there’s that number again, 17.
Yawn. Pump up Bitcoin one last time before 4 year crypto winter.
Sell your gold and metals for crypto lol.
It has monetary value, obviously, but they don’t want to detract from the dollar. Bad decision as buying more and selling it higher could have helped with our debt.
It’s a Ponzi scheme though, anon.
Yeah. It’s just a derivative of the US dollar. When you buy bitcoin, that money is being used to buy US treasuries, so you are funding the US debt. The government loves it if you buy bitcoin and hates it if you are acquiring gold and silver. When the dollar collapses and loses its purchasing power, so will Bitcoin. Whatever purchasing power bitcoin had will collapse back into gold where it derived its value from in the first place. Just like all derivatives of the dollar will, like stocks, treasuries, real estate… you name it. It’s not that those assets don’t have value. They do. Just not their current purchasing power.
Gold and silver are real hard assets that have intrinsic value of their own. Not just they required energy to produce, but they have real world uses that set a floor on their value. For example, outside of oil, silver has the most patents and industrial uses and is absolutely strategic; in addition to having all the characteristics of money. Bitcoin has none of that. No one needs bitcoin for anything and most people and businesses won’t accept it for transactions. I can take an ounce of gold anywhere in the world, power or not, and exchange it for goods and services.
I don’t know what’s going on with this crypto bullshit but personally I’m not touching any derivatives in a financial collapse. I’m going to hold the original deposit all the derivatives derived their value from in the first place. Gold and silver.
https://m.youtube.com/watch?v=6-kAz2dnN5Y&pp=ygUXUmFmaSBmYXJiZXIgZGVyaXZhdGl2ZXM%3D
You better watch out for Retard Finder.
Huh? Is this an insult? You saying I am retarded for thinking bitcoin is funding the US debt?
https://youtu.be/xjC9ysYY7rM?si=bSLkQnVCrSttQe9T
You believe Cantor Fitzgerald about anything you get what you deserve. You better run. Retard Finder might get wind of this.
Go back to Reddit dude. That’s the proper place for you.
It is a currency that is limited in supply. It is a digital store of weatlh. IF BTC is a ponzi, then all stocks are ponzi schemes as well, also throw in all investments, as they all depend on new money propping things up. Let the market decide anon.
Stocks provide a real return, and provide real world value to people in the form of goods and jobs, dividends, profits etc. BTC is scarce and limited supply, yes. But it is a breeding ground for fraud, not secure, eventually quantum computing could hack “everyone” and steal all their tokens. BTC is software, and in the tech world, new and better software ALWAYS comes out and is adopted, replacing the old tech. THIS WILL happen to BTC, because the bar to entry is LOW AF.. look at the thousands of competitors arising and taking market share from this mythical “scarce” token “BTC”.. actually doesn’t seem scarce when literally thousands of coins are created each Day.. millions of competitors now
Outside of dividends or majority ownership, stocks don’t really do anything. Fraud is our USD that has lost 98%+ since 2013 and is yhe #1 money used in crime. Bitcoin is an open ledger and with computer forensics being what they are, way too risky to use for regular crimes. There are eay better ones (e.g. Monero, which they are removing from most exchanges because of its anonymity.)
If you can’t handle your BTC keys then don’t buy in, or just buy the ETF.
I think there are quite a few “better” crypto’s for money (e.g. KASPA), but it is excellent for what it does.
We both have our opinion but quite clearly the people and the market have already decided on BTC.
It’s a start.
When the economic shit storm hits. All bets out the window. He can just say buy and increase the stock pile.
How do they actually get it thought? Not your keys, not your wallet. Are the criminals giving up their keys?
Confiscateed BTC from e.g. Silk Road.
Backdoors. North Korea hacking wallets daily.
CCP controls over 51% of BTC mining, why are we pumping the CCP bags with our tax money? Also BTC is old, slow and obsolete with no smart contracts... who is retarded enough to use BTC...
I wonder how this ties in with Trump pardoning and releasing Ross Ulbricht. Estimates are that feds seized from 144,336 to 224,667 bitcoin from Ross and/or Silk Road affiliates. 224,667 bitcoin is over $22 Billion at current value.
just bitcoin or other cryptos also?
Solona Xrp Eth Ada
I expect a lot more more bitcoin to be acquired.
I don't even know how this would even work...
Even.
Snagglepuss even.
Stackers HODL
Trumpcoin for the win!
Then crypto promptly plummets... wtf?
A digital conundrum, ISO approved cryptos vs Bitcoin. Backed by what. Obviously not impervious to hacking. Vulnerable to the elements.
Approved vs Unapproved Regulated vs Unregulated Legitimate vs illegitimate
Lots to consider. Lots of Questions