Donald Trump on #Bitcoin:
It just seems like a scam.
I don't like it.
I want the dollar to be the currency of the world. pic.twitter.com/Vn50513WFt
— Blockworks (@Blockworks_) June 7, 2021
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Trump: Bitcoin is a Scam
Whether BC can survive with gov’t edicts denying its legality is one thing, but to mouth the USD as an on-going rudder of stability is ham-hocked blather. jmho
Any fiat currency, including the US dollar, is a scam of the highest degree.
Orange Man Bad is just annoyed that he didn’t get in on the big early action in 2011/2012.
BuT bItCoIn Is UnTrAcEaBlE!!!!
You’re thinking of Monero.
Blockchain transactions are 100% traceable as all transactions are permanently stored in the public blockchain ledger.
They supposedly got into the account with the correct password. I wonder how much they had to pay the See Eye Ay for that information?
It was easy to “trace” when it was their operation.
It’s a speculative risk asset. I don’t trust it. Created by an unknown entity, promoted and obtained its original value on the so-called “dark web” by being a means of exchange for illicit materials. It just seems all too convenient that it’s a CIA, and by extension, private central bankers psyop.
Those who support the US dollar (Federal Reserve Note) are really supporting the ability of the US to export its criminal inflation onto the poorest of the poor, and to be able to screw over any country at will when they don’t do the bidding of the administration du jour (without having to fire a shot). A gold standard puts everyone on an equal playing field. No currency is viable for daily use when its value fluctuates by 10% a day.
Bitcoin may be traceable but crypto like Monero is not. Pirate chain won’t be either when it takes off. Everybody will be switching over from Bitcoin to those so the government won’t be able to tax them. The banking cartel won’t like being taken totally out of the loop like that.
Cars won’t replace my trusty horse. That internet thing is just a fad. TPTB just don’t like being cut out of the action. The fact that the Government doesn’t like it should tell you something. What I keep seeing and reading is people who haven’t done the research not liking something they don’t understand. But don’t go investing any money in something that would help you purchase things in an SHTF future and maybe save your ass-ets. Yeah I know you all plan on using Gold and silver, try to have another option.
This also shows why someone younger and sharper than Trump is needed as our President.
Serious questions.
When SHTF, and the power goes out for an extended period of time,
how does one transact in crypto?
Or if the internet is “locked down” (say to prevent a ‘hacker’ attack on infrastructure; I know that would never happen, like they would never “lockdown” society, and force private businesses to close…)
How does one transact in crypto at that point?
Can one keep a private wallet on say a USB stick? (That way it is not connected for the FBI to ‘seize’.)
If not, for me there’s a violation of the rule that “If it’s not in your hand, you don’t own it”.
All of a sudden Ethereum is considered a better vehicle than Bitcoin. Why? How did that happen? What happens when another crypto comes along that is ‘better’ than all that preceded it? If you can’t see this fatal flaw in a storehouse of wealth that is essentially based on NOTHING … there is no point in continuing.
BC is a fucken CIA op and it has been since alpha testing. A hash is always traceable. Look at all the shit that happened with Silk Road 1 and 2, Alpha Bay, Dream et. al. It was all a spoof thanks to idiot operators that didnt realize the CIA/NSA was playing them.
I reckon anything that a human places value on will always be exploited. I mean people paid money for fucken pet rocks… I prefer to keep my tangible assets in bullet launchers and bullets. Call me old fashioned, but every country I went downrange to every person understood what a gun pointed in their face meant: whomever is pointing the boom stick at your face is in charge.
ZFG, out.
P.S. Fiat is fiat is fiat. Plomo o plata?
Amen brother
Federal Reserve Notes are just as electronic as cryptos, just not tracked by block chain. Not yet anyway.
Trump may want the dollar to be the currency of the world. People in hell want ice water. Too bad. We had our days in the sun and it is now over. The world is moving away from the US dollar as the reserve currency and for good reason. The US government and the US central bank cannot be trusted to maintain a sound currency that stores value. We abused the shit out of our privilege, and used the dollar as a weapon to hurt other countries that disagreed with the US government.
If I was another country, I would say good riddance. As a US citizen, I say the same. Time to shut the racket down.
Ummm…. There’s a physical FRN meaning it’s not solely dependent on electricity or a blockchain for transactions. I can give a physical $20 bill to a random person and there’s no way for anybody to know that transaction has taken place.
True enough. Not completely electronic, but close.
There are about 50B paper notes in circulation. https://www.federalreserve.gov/paymentsystems/coin_currcircvolume.htm
Compare that to the trillions in electronic transactions. All the stimmies. Direct deposit. The Fed itself does 120B (that they admit to) per month in QE funny money, that never sees the paper form.
Only Obummer allegedly shipped paper to the Iranians.
When that note passes through an electronic reader it can be “tracked” to a degree. See my comment below. And not sure why so many down votes, but while I would love to see the FRN vanish and be replace with sound money, it has worked as money simply because it can be held in one’s hand and can be used at any given money, power or no power, internet or no internet. That doesn’t change simply because MOST of the “dollars” in “circulation” are simply 1s and 0s. If one wants, one can hold ones dollars in their “paper” form.
while i’m pretty sure trump doesn’t mean it this way (hes probably thinking of digibit frn’s as being ‘dollars’) , if we were actually using real, constitutional dollars, you know, specifically 371.25 grains of silver, well then, that’d be just fine.
i dont think even trump had this in mind though.
Actually, every bill reader has the ability to record the serial number of the bill as it passes and tie it to the transaction. While obviously the guy at the garage sale doesn’t care, when he brings it to the bank to deposit, they record it, when you got it out of the ATM it got assigned to you, when you used it to pay at a self-checkout, etc. it got assigned to you if you used a store loyalty card, etc. It is a system with many holes in it, but many of the “movements” are absolutely recorded and assigned “ownership.” I still happily pay in cash for stuff and generally don’t worry about these recordings. Just want to make it clear that even FRNs are NOT completely anonymous throughout their “life.”
Yah, Trump knows scams.
Trump wants the dollar to be the currency of the world? Then maybe he shouldn’t have spent his 4 years screaming at the Fed to keep interest rates at zero – or negative (He actually WANTED that) – and using the US dollar as a weapon around the world in endless sanctions.
He worked for four years – like EVERY modern president – to DESTROY the dollar, but says he wants it to be king. He’s either stupid or lying – you pick.
That’s a trick question isn’t it? Kind of like ‘water is either liquid or wet’ – you pick. I pick he is both plus a controlled agent of the banking cartel.
Yes. He is.
Stephanie- You are certainly singing a different tune from the past. Who opened your eyes? Asking for a friend.
I still find cryptocurrency and blockchain technology to be interesting. I’m not against the crypto industry at all.
However, I stopped being supportive of Bitcoin after it began to scale. Roughly 75% of mining pools originated in China and Iran. The mining drains the electricity grid meaning BTC is a derivative of the petrol dollar. BTC’s biggest supporter is Jack Dorsey which probably means a nefarious AI program is running off the blockchain. It still has an anonymous creator which points to it probably being created by the CIA, DARPA, or a foreign intelligence agency. There’s way too many problems with BTC and it’s shady AF.
The US dollar is the biggest scam going.
The greatest criminals in world history supported the creation of the Federal Reserve and its money. Even a sociopath like Jack Dorsey doesn’t rise to their level. If the currency can’t be trusted, then it also isn’t money.
WHAT IS THE OPTION FOR NATIONS LIKE EL SALVADOR ?
Salvador has a debt burden and a bad economy».What should the govtt do ? Print more currency and move into hyper inflation,and civil war ?
Or adopt the US Dollar – which is like outsouring the treasury and monetary policy of Salvador,to the US Fed
The people with money need a currency to part their assets,from the point of safety and risk.If they pile into USD,the local currency will crash.If they exit Salvador,business and employment will collapse.
SOLUTION = ALT CURRENCY,which will keep the rich in Salvador,and give options to locals,to use USD or local exhange,or Alt-currency.
WHAT IS THE OPTION ?
CHINESE YUAN ?
EURO ?
OR BTC ?
EVEN THE PBOC CANNOT CONTROL FAKE YUAN/REMIMBI IN CHINA.
Only way is BTC.dindooohindoo