Biden coming after cryptos (@America 1st was right again)

[America 1st]

SIAP

Dude perfectly represents coiners and all their insanity.

 

[CDDP]

Dude perfectly represents coiners and all their insanity.

The crypto world is pretty nuts right now. I do like how younger people are learning about the sham that fiat currency is through crypto tho.

 

[America 1st]

The crypto world is pretty nuts right now. I do like how younger people are learning about the sham that fiat currency is through crypto tho.

See I'd say crypto muddies the water even farther. Folks end up thinking currencies are the problem when it's just the central banks issuing them that are really the issue.

The term fiat is used incorrectly as well IYAM. Fiat, or arbitrary, doesn't accurately describe most of the currencies.

A great example of this is the US Dollar. It's value is isn't arbitrary and it is backed by all the goods and services in the US economy. Even the amount of dollars in circulation isn't arbitrary but a calculated decision made by the central bankers.

Meanwhile cryptos make it seem like assets most accurately described as "store of value" are currency and that currencies shouldn't be a direct extension of sovereign states but instead centralized in the hands of globalists.

It's really a sad state of affairs attempting to peddle globalism and one world governments just like critical race theory and they other bullshit we've seen become increasingly toxic these past couple decades.

 

[America 1st]

 

[ChicagoFats]

guess they decided now was a good time to show some of their cards in regards to what can and can’t be done with shitcoin.

next few days should be interesting. Still bullish on ETH long term.

 

[America 1st]

guess they decided now was a good time to show some of their cards in regards to what can and can’t be done with shitcoin.

next few days should be interesting. Still bullish on ETH long term.

I tried to tell folks and was told I was nuts.

I REALLY like ETH as a product and what it's intended to do but folks that were acting like the US doesn't control EVERYTHING in regards to the internet was comical.

 

[ChicagoFats]

I tried to tell folks and was told I was nuts.

I REALLY like ETH as a product and what it's intended to do but folks that were acting like the US doesn't control EVERYTHING in regards to the internet was comical.

It’s a long way from over, no celebrating yet! I think cryptos are here to stay.

 

[America 1st]

It’s a long way from over, no celebrating yet! I think cryptos are here to stay.

I'm far from celebrating. People are getting hurt because of these products and a lack of sound judgement and understanding of them.

It's sad it took this but it feels good to know I was WAY out in front of all of this and didn't contribute to other people's suffering like coiners.

 

[ChicagoFats]

I'm far from celebrating. People are getting hurt because of these products and a lack of sound judgement and understanding of them.

It's sad it took this but it feels good to know I was WAY out in front of all of this and didn't contribute to other people's suffering like coiners.

Some people are getting hurt, but a lot of millionaires have been minted also.

The question is does Bitcoin or other crypto currencies have a legitimate use and does it create value.

Im not sure about BTC specifically, but I believe in ETH. It has legitimate uses and creates value. I think it will be around for a long time. What im not sure about is how to put a price on what it is worth. Im not sure, so i have averaged in over the long term and it has treated me well so far.

 

[America 1st]

Some people are getting hurt, but a lot of millionaires have been minted also.

The question is does Bitcoin or other crypto currencies have a legitimate use and does it create value.

Im not sure about BTC specifically, but I believe in ETH. It has legitimate uses and creates value. I think it will be around for a long time. What im not sure about is how to put a price on what it is worth. Im not sure, so i have averaged in over the long term and it has treated me well so far.

For every millionaire created several more had to lose their asses.

I agree completely that some of these have a real world application that creates values but unfortunately most of them are negative sum producing.

You're spot on when you say the prices and value of these products is tough to determine and that's because they're fiat.

ETH is a good example of a product that could be used to create individual vehicles (coins) for certain companies and markets if people were interested in those sorts of things. I'm personally against these sorts of networks but it's easy to see why some people will love having the information permanently stored in the "ether".

 

[ChicagoFats]

For every millionaire created several more had to lose their asses.

I agree completely that some of these have a real world application that creates values but unfortunately most of them are negative sum producing.

You're spot on when you say the prices and value of these products is tough to determine and that's because they're fiat.

ETH is a good example of a product that could be used to create individual vehicles (coins) for certain companies and markets if people were interested in those sorts of things. I'm personally against these sorts of networks but it's easy to see why some people will love having the information permanently stored in the "ether".

I just don't think its the governments place to pick winners and losers. If its negative sum producing as you say, the market will say as much. With something that started out at zero less than 10 years ago and is now worth over $500 Billion it clearly has utility. How much is TBD.

Take Facebook, i think its negative sum producing, but the market says otherwise. Id rather the market, or people, decide what is productive and whats not.

ETH is only partially fiat imo. It has intrinsic value in the contracts that it enforces.

Its interesting that the US announced that they recovered some of the BTC not through breaking the blockchain, but by accessing the perpetrators wallet. Its a big difference. I am curious to find out how they broke the wallet password. Anyway, if they had broken the blockchain itself, the crypto market would collapse overnight imo

 

[America 1st]

 

[America 1st]

I just don't think its the governments place to pick winners and losers. If its negative sum producing as you say, the market will say as much. With something that started out at zero less than 10 years ago and is now worth over $500 Billion it clearly has utility. How much is TBD.

Take Facebook, i think its negative sum producing, but the market says otherwise. Id rather the market, or people, decide what is productive and whats not.

ETH is only partially fiat imo. It has intrinsic value in the contracts that it enforces.

Its interesting that the US announced that they recovered some of the BTC not through breaking the blockchain, but by accessing the perpetrators wallet. Its a big difference. I am curious to find out how they broke the wallet password. Anyway, if they had broken the blockchain itself, the crypto market would collapse overnight imo

This i don't agree with. Cryptos, just like the markets, are being manipulated to create narratives and to produce the outcomes desired. Also market demand shouldn't determine how we view things as a society or child labor would have a huge demand right now with the lack of workers.

ETH is still fiat. Fiat means arbitrary, not worthless as many here like to suggest. Just because it can accomplish some task doesn't make it not negative sum producing.

I don't have a position of ETH being negative sum producing because it's concept and applications are completely different than Bitcoin but I think the important thing to distinguish between the cryptos is what their intended uses are and then analyzing them as such.

ETH, for example, could be beneficial if used to transfer the right data (just like any other blockchain) just as much as it could be harmful.

People need to be careful with blockchain. Some folks using it exposes us all to harm.

 

[ChicagoFats]

This i don't agree with. Cryptos, just like the markets, are being manipulated to create narratives and to produce the outcomes desired. Also market demand shouldn't determine how we view things as a society or child labor would have a huge demand right now with the lack of workers.

ETH is still fiat. Fiat means arbitrary, not worthless as many here like to suggest. Just because it can accomplish some task doesn't make it not negative sum producing.

I don't have a position of ETH being negative sum producing because it's concept and applications are completely different than Bitcoin but I think the important thing to distinguish between the cryptos is what their intended uses are and then analyzing them as such.

ETH, for example, could be beneficial if used to transfer the right data (just like any other blockchain) just as much as it could be harmful.

People need to be careful with blockchain. Some folks using it exposes us all to harm.

I don't think there is any proof that cryptos are being manipulated. They are decentralized.

ETH is not just an arbitrary price. It has intrinsic value. It can not go to zero, unless other things that make it up go to zero.

I could name a myriad of things that expose us all to harm by some folks using it.

Still haven't heard a convincing argument against crypto.

 

[America 1st]

I don't think there is any proof that cryptos are being manipulated. They are decentralized.

ETH is not just an arbitrary price. It has intrinsic value. It can not go to zero, unless other things that make it up go to zero.

I could name a myriad of things that expose us all to harm by some folks using it.

Still haven't heard a convincing argument against crypto.

The bold doesn't make them immune from manipulation. Governments control many of the "coins" in each of these chains. That alone makes them capable of being manipulated.

ETH could go to zero. People just think it's worth more than zero. People thinking that doesn't make it any less negative sum producing or arbitrary in "value".

Most things that expose folks to harm while other folks use it are regulated. Blockchain should really be no different especially considering the information it carries is so pertinent to national security and citizens privacy rights.

Once you factor in that cryptos proliferate an economic environment that isn't consumer friendly via a lack of consumer friendly controls is pretty easy to see why even calling them "currencies" is dangerous and degenerative to society (especially the ignorant).

 

[America 1st]

 

[America 1st]

If Big Dick Don and Pocahontas agree then this really is a no brainer.

 

[America 1st]

I expect a ton of crow eating soon by some folks who argued against me ITT.

Not surprising how they disappeared after @America 1st went 100/100 on his called shots.

 

[America 1st]

The hits just keep coming.

Gonna have to outlaw this shit just to bring down the frequency of the terrorist attacks.

 

[America 1st]

 

[America 1st]

@ChicagoFats the terrorist attacks alone are enough of a reason to do away with cryptos.

Terrorists shouldn't have any notion they can attack the country, it's infrastructure, or private companies / citizens and be negotiated with or "paid" in some asset.

Trump and Pocahontas agreeing the Bitcoin and others are no good should pretty much seal the deal. It's typically only extreme national security threats that get bipartisan agreement these days.

 

[ChicagoFats]

@ChicagoFats the terrorist attacks alone are enough of a reason to do away with cryptos.

Terrorists shouldn't have any notion they can attack the country, it's infrastructure, or private companies / citizens and be negotiated with or "paid" in some asset.

Trump and Pocahontas agreeing the Bitcoin and others are no good should pretty much seal the deal. It's typically only extreme national security threats that get bipartisan agreement these days.

Terrorist attacks weren't committed prior to crypto currencies?

Terrorist can demand to be paid in many forms. Cash (ask Barry), blood, prisoners ...... crypto currency is far from the only currency that facilitates terrorist transactions. You are using terrorism as a boogeyman to crypto.

Trump is an old. Love him, but i disagree with him on this subject. I actually dont know what his exact position is, but mine is that crypto currencies will be a product that facilitates easy and basic banking transactions. It also will be used for simple contracts. The complex stuff will need human interaction for the foreseeable future.

I do not think that bitcoin or ehter or any other crypto will overtake the banking system, it won't replace the dollar. It will be used in tandem.

I view it as similar to when the internet started, a lot of people thought it would take over jobs and make humans obsolete. The exact opposite happened. The internet created more jobs than most thought possible.

The only reason bitcoin is a national security threat is because its not under the control of the US government. Which is exactly what gives it value.

 

[America 1st]

Terrorist attacks weren't committed prior to crypto currencies?

Terrorist can demand to be paid in many forms. Cash (ask Barry), blood, prisoners ...... crypto currency is far from the only currency that facilitates terrorist transactions. You are using terrorism as a boogeyman to crypto.

Trump is an old. Love him, but i disagree with him on this subject. I actually dont know what his exact position is, but mine is that crypto currencies will be a product that facilitates easy and basic banking transactions. It also will be used for simple contracts. The complex stuff will need human interaction for the foreseeable future.

I do not think that bitcoin or ehter or any other crypto will overtake the banking system, it won't replace the dollar. It will be used in tandem.

I view it as similar to when the internet started, a lot of people thought it would take over jobs and make humans obsolete. The exact opposite happened. The internet created more jobs than most thought possible.

The only reason bitcoin is a national security threat is because its not under the control of the US government. Which is exactly what gives it value.

It doesn't matter that they can demand payment in many forms.

All that matters is they are attacking our country because they believe they'll be able to get something based on people's actions and that product's dynamics.

The amount of excuses made for these products is mind numbing. Everyone recognizes they are national security threats and still people want to continue to keep them because of their hate for government.

 

[America 1st]

 

[America 1st]

 

[America 1st]

Dark side of the Coin – Extent of illegal activity in Bitcoin

One of the world's top three finance journals, Review of Financial Studies, devoted its May 2019 issue to the field of Fintech, Blockchain and Cryptocurrencies. One of these studies is the research described below which focuses on the extent that these currencies are used for illegal activities...

finance.yahoo.com

 

[America 1st]

@ChicagoFats

There is no winning side with cryptos IYAM.

Now that The Fed is rolling out their own digit asset we've all lost big.

Couple that with the people out capital and the information able to be harvested and the whole thing went exactly how the C_A and the central banks wanted it to.

Another feather in their cap to manipulate / create narratives, policies, and economic activity.

 

[America 1st]

Just like I said...

Fed explores ‘once in a century’ bid to remake the U.S. dollar

The rise of private cryptocurrencies motivated the Fed to start considering a digital dollar to be used alongside the traditional paper currency.

www.politico.com

@ChicagoFats

 

[America 1st]

 

[America 1st]

 

[America 1st]

 

[America 1st]

 

[America 1st]

 

[Sikness23245]

Honestly, I've never been a believer in cryptocurrency, but if China and Iran are so adamantly against it, i'm about to switch sides. ROCKET SHIPS!!

 

[AMSO]

XRP gonna make the music stop.

My XRP has been locked up for 6 month. Is it going to the moon? Wut mean?

 

[America 1st]

Honestly, I've never been a believer in cryptocurrency, but if China and Iran are so adamantly against it, i'm about to switch sides. ROCKET SHIPS!!

They're not against cryptos. Iran holds tons of Bitcoin and so does China. China has their own state crypto.

They're just banning the mining in country because of the energy use national security concerns related to how quickly that can happen.

 

[America 1st]

My XRP has been locked up for 6 month. Is it going to the moon? Wut mean?

They do whatever they need to do to manipulate these blockchains and to get capital flowing the way they want.

That post was just meant so people could be looped in on the trend and social conversation around that time.

 

[America 1st]

‘Big Short’ Fund Manager Warns of ‘Mother of All Crashes’ in Crypto

Michael Burry issued the warning in a series of tweets that have since been deleted.

finance.yahoo.com

 

[America 1st]

 

[America 1st]