Bessent Red pill wallet coms...
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The crypto was on a public exchange which is like having your money in a bank and not your own safe.
Not your keys, not your crypto.
Super simple stuff.
For some people maybe. You can tell it isn't simple to most, because if it were, then there probably wouldn't be so many anons that find it anywhere from challenging to impossible to understand.
The same can be said for people that have never used a smartphone or multiple other categories of tech.
The issue is that the people that have no experience or idea of what they are talking about tend to be the people offering up opinions on those things based on their misconceptions.
Then there's the fact that anyone could watch a 10 min YT video and get a better understanding of crypto than 90% of people that have never used it... BEFORE offering an opinion on it.... But most people don't.
There will always be idiots that try to speak on subjects they don't understand in any are of life. That's the real problem.
Let me tell you what it means to be simple:
If I have silver, and you have land, or bread, or a car, etc., I can trade my silver for your real asset if we agree on the amounts. Similarly for gold and any other real asset. That's because these assets have intrinsic value. It's value is not ambiguous, it is as clear as a fucking golden bell.
For anything that doesn't have real value, like FRNs, or BTC, or any other nonsense where you have to explain HOW it has value, it's nothing but a FUCKING PSYOP.
It's really THAT SIMPLE.
That actually is simple, and so am I. It's why I own no crypto even though Trump loves it and two of his sons have a crypto company of some sort.
The argument that "crypto is not a viable asset because it isn't backed by anything" is one of those claims that sounds profound right up until you ask what exactly backs the U.S. dollar.
The answer used to be gold. Now the answer is essentially, "trust us." The dollar is backed by the full faith and credit of a government that is $30+ trillion in debt and creating new currency units faster than rabbits produce offspring. If "backed by something" is the standard, fiat currency is standing on thinner ice than its critics would like to admit.
A good currency has traditionally been judged by six core characteristics:
Crypto performs remarkably well on all six.
Durability? Bitcoin does not rust, burn, rot, or wear out.
Portability? You can move millions of dollars across the world in minutes without armored trucks, bank holidays, or permission slips from bureaucrats.
Divisibility? A single Bitcoin can be divided into 100 million satoshis.
Uniformity? Every Bitcoin is identical to every other Bitcoin, just as every dollar is supposed to be.
Scarcity? This is where Bitcoin particularly shines. There will only ever be 21 million. Nobody can wake up one morning and decide to print another few trillion because Congress has expensive hobbies.
Acceptability? Millions of individuals, businesses, institutions, and even governments now recognize and use crypto. Acceptability grows wherever people voluntarily choose it.
Notice the irony. The one characteristic fiat currency struggles with most is scarcity. Governments are structurally incentivized to create more currency. Bitcoin is structurally designed to prevent it.
Critics often say crypto is too volatile to be money. Fair enough. New technologies frequently experience volatility during adoption. The internet stocks of the 1990s were volatile. Railroads were volatile. Oil companies were volatile. Volatility does not determine whether an asset has value. It often reflects a market discovering that value.
The deeper issue is that crypto is not merely competing with dollars. It is competing with central control. A currency that cannot be inflated at will, censored easily, or transferred only with institutional approval represents a fundamental challenge to the existing financial order.
Now, crypto may succeed or fail depending on the project, technology, and adoption. Plenty of crypto projects deserve to fail. But the blanket claim that crypto is not a viable asset because it is not backed by anything is rather like a man living in a glass house mocking his neighbor's windows.
The dollar is backed by confidence.
Bitcoin is backed by mathematics, cryptography, decentralization, and an immutable supply schedule.
Whether one prefers the latter to the former is a legitimate debate. Pretending only one side relies on belief is not.
Your gold and silver intrinsic value collapses the moment we start mining asteroids.
Yeah I was gonna ask how they "grabbed" it, but yeah if it was sitting in an exchange then that makes sense. Just goes to show, use your private wallet as is intended with crypto.
Pretty sure he literally said they seized their wallets, not their exchange accounts.