I used to be so confident about bitcoin until i discovered Trump said “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….” back in 2019. Now i'm starting to think shit like what if it's just some bs ponzi scheme that the deep state motherfuckers use to launder money? I mean, Trump gets pretty much everything else right. Anyone got any opinions on this?
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It shouldn't be your sole source of investment and Trump isn't wrong about its volatility if that quote is true...but its becoming more and more accepted. I think the crypto wars are just starting.
I'm slowly adding some crypto to my portfolio... not a ton though.
I’m pretty optimistic about Bitcoin as a whole
The approach of holding seems to be very effective
The finite amount is what really convinced me that it’s going up.
Yeah, we’ll have crashes and people will do the standard “lol, Bitcoin is worthless” bit but meh, I just keep holding on.
It having the potential to disrupt central banks and government obsession with money manipulation is just a bonus
hold it... its not going anywhere.
it's great, as long as there is a power grid
A lot of things have big problems without power
On one hand, his statement describes paper money too. On the other hand, the inventor of Bitcoin is a complete mystery. It’s some mythological guy. So maybe the cia and deep state created it? Who knows, but it’s hard for me to trust it without knowing who created it. Gold and silver I think are the solution if we can move back to money backed by metal.
It was created buy a guy who stayed anonymous because his creation is designed to truly disrupt central banks.
Wars have been fought over refusing to have a central bank let alone deciding to take the fight directly to them.
It being a mystery in some ways makes me like it more because it shows the guy who worked on the original idea knew the nature of the beast he was going up against.
Most likely the creator of bitcoin was a guy named Hal Finney who passed away from ALS in 2014.
However if cryo preservation works he might come back someday to collect his treasure.
https://news.bitcoin.com/the-many-facts-pointing-to-hal-finney-being-satoshi/
he was part of the first bitcoin transaction or block, the genesis block on Jan 12, 2009
In open source software, it doesn't matter who the inventor is. If the project start to follow a path most people disagree with a fork can be made at any point. Back doors could be found and proven to exist by anyone, so only an idiot would even attempt to include them in the first place.
CIA made SHA2, the hash algorithm used for mining. It's used in almost any software that utilize encryption and it's open source. No known back doors or vulnerabilities. It's not a problem until CIA release some proprietary software, if they did, then stay far away.
Gold and silver is hard to verify, if you buy a solid gold brick, how do you know for sure it's solid gold and not just a regular brig covered in a thin sheet of gold?
US Naval Intelligence invented The Onion Router, aka Tor browser
The validity of any otherwise impenetrable security system persists only until someone who knows the keys is acquired and tortured into revealing the answer.
Bitcoin never revealed who that
targetperson was. Like, no one knows.So, not only is it a solid system but also the most obvious next weak point for the system retains security-by-obscurity.
I think this is one of few occasions when Trump are wrong. He get things right very often, but let's be honest, not so much around technology.
Simply investing in his own infrastructure, i.e building a small data center in Trump Tower and other buildings he own, and similar would have helped a lot in the fight against big tech censorship.
His store got banned on shopify and foreign banks are shutting down his accounts. None of that would have affected him if he also accepted cryptocurrency payments.
Could you imagine what would happen to the price of Trump announced he’s accepting crypto payment donations haha
But pretty sure they’d lock him up because of donation laws or something.
It would go to the moon :)
Government wouldn't be able to do anything, crypto is legally defined as an asset, just like gold or real estate. There's no law preventing you from holding any amount of coins. Tho you might have to declare capital gains tax on any profit you make in some states.
If I stay purely in Bitcoin do I ever have to pay tax?
Depends on country or state, but anywhere it's classed as an asset and not currency, using it as a medium of exchange would be just like direct trading, which is tax free.
While at work, think of it as a gift. If you get a basket of fruit or tickets to the circus from your boss, it's tax free. Same applies to cryptocurrency.
only if you sell for a capital gain
Bitcoin is NOT anonymous
Trumps money came from brick and mortar real estate. And seemingly an interest in gold (although I’m not sure if his money came from / is actually invested in gold)
But it makes sense that he’d be wary of something like Bitcoin as it’s non-tangible and hasn’t stood the rest of time like property.
More millionaires are made through property than anything else so if you’re wanting the Trump style get rich investment advice: focus on property
Boomers won’t understand. You’re talking about a thousands year old monetary system on the verge of collapse. They don’t get it.
Trump does not understand bitcoin or blockchain.
He is not the only one, neither does Warren Buffett or Jamie Dimon.
Just because they have had spectacular success in one field does not mean that they are uptodate on the latest crypto developments.
The only time the price goes up is when someone announces they've made a significant investment. People go on a buying frenzy driving the price up even further then the opportunists cash out and the little guy with hopes and dreams ends up losing everything when it crashes the price. It wasn't a scam but they figured out a way to turn it into one.
Trump also heavily supported vaccines and slightly supported alt. medical treatments like hydro. I really trust Trump but his words should be considered carefully. Trumps entire life is based on the existing currency which I believe he really wants to see succeed. But if he openly peddled crypto... I believe a lot of powerful people would be extremely upset... I wouldn't abandon the crypto idea any sooner than I'd take a vaccine because Trump said it's great. Think about it.
every Trump supporter should buy bitcoin... I don't mean 50,000 bucks. I mean fractions of one bitcoin, like 10 or 20 or 50 bucks.
If Team Trump embraces bitcoin, the Donald will follow.
someone needs to explain the benefits of Bitcoin to Trump and he will get it.
The deep state hates bitcoin.
Yellin hates bitcoin.
China is trying to ban it.
Think of bitcoin like beanie babies. They are worth the physical material they are made from. Their value is not supported by a military. However, when they get you used to it and central bankers take over digital currency on a global basis, bitcoin will crash and the power grab will be complete. Like when FDR confiscated all gold and gave you paper.
Assuming that people will fall for the same FED scam again. Many probably will. But in terms of method it's more likely they'll crash the dollar after buying up everything with real value, such as real estate, land and gold.
With fiat currency gone, people who doesn't have stored food, gold, crypto or any medium of exchange to trade on the black market are now desperate for food. And "conveniently" enough the government has the solution, their own social credit system. Lick some government butt and your score goes up. People will do it for some breadcrumbs and insects, because they're desperate.
M$ even have patents for building the social credit system on Bitcoins blockchain, this literally means they'll have to pay hosting, transaction fees and electricity fees in Bitcoin. Which means crypto is here to stay as a currency for the future.
This is why globalists tell people to avoid crypto at all cost, while secretly buying for themselves. I wouldn't even be surprised if they keep track of early investors, who will be very rich in the future. And goes door to door, asking them to join the elite. Those who refuse are killed (by covid-30) or whatever plandemic they fake at that time.
I am looking forward to a massive EMP event.
Maybe that ain't a bad idea, let's learn how to survive without electricity, then EMP attack the cities to disrupt all the surveillance, social credit, scummy banks and other tools the globalists use for oppression. In ares that still has electricity we run everything peer-to-peer, without necessary depend on electricity.
Bitcoin essentially isn't used for anything but to "invest" in. Virtually no one uses it to actually purchase anything (except internet clicks and eyeballs for the media companies).
It's basically tulips all the way down (without the beauty of the flower).
If you don't think anybody is using bitcoin to buy stuff check out the RealTime Transactions
https://blocks.wizb.it/
https://www.blockchain.com/btc/unconfirmed-transactions
And they are spending it at merchants like
https://spendmenot.com/blog/who-accepts-bitcoin/
How long does it take to facilitate a bitcoin transaction? Is it as quick as alternative methods like cc's?
Bitcoin Transaction Times vary.
The last few days it has been around 10 minutes. So its not something yet you would buy a cup of coffee with. But there is something new called the Lightning network which is designed to bring transaction times down to less than a minute. We will have to see how that works when it comes online soon.
https://coinmarketcap.com/alexandria/article/how-long-does-a-bitcoin-transaction-take
https://www.blockchain.com/charts/median-confirmation-time
https://alephzero.org/blog/what-is-the-fastest-blockchain-and-why-analysis-of-43-blockchains/#:~:text=Bitcoin%20handles%207%20TPS%20on,minutes%20of%20real%20transaction%20time.
Bitcoin technology has an important role, if used in tracking things like videos and mp3s... it could help pay creators and decrease pirating. It even could have a role in election integrity.
But Bitcoin as money is not an investment, in the classic sense. And as a currency, it only becomes important once nations or central banks embrace it. To think it is impervious to corruption and manipulation is naive.
I want the USDollar to remain the world’s main currency. I don’t want anything breaking that down. Anything else will erode the leverage our country has as the source of the worlds currency.