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FIFY
Biden coming after cryptos (@America 1st was right again)
- Thread starter America 1st
- Start date
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He’s just pot stirring cause the board needs content he admitted it above
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Shocker 
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Shocker
Yeah of course it’s used for illegal shit that’s how the whole thing started
I didn’t read it because you don’t read your own articles either but I would guarantee he got caught for some other reason than bitcoin being the method of payment
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Now we're finally getting somewhere.
Also obviously he didn't get "caught" for transacting bitcoin because it isn't illegal yet but like always birds of a feather flock together...
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Check this out. CYFM is up 641,050% in the past 24 hours.
https://coinmarketcap.com/currencies/cyberfm/markets/
https://coinmarketcap.com/currencies/cyberfm/markets/
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Somebody just made some guap
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Called this one too.
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I almost didn't do Bounty Bucks because it's crypto and the platform it's on.
Overlord is my boi tho so WWG1WGA
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Bump so folks can relish my victories.
Still waiting on coiners to answer the questions posited as well.
Still waiting on coiners to answer the questions posited as well.
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Where did all the coiners go?
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Pretty spot on although he admits “we use our reserve currency to manipulate the oil supply chain” as the big argument for why bitcoin is harmful. So the deep state loses one of its main outside of government financial manipulation tools and that’s somehow bad for the little guy?
Also trashes and dismisses your whole concept of gov crypto at the end
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He is just one guy with one opinion in regards to gov crypto. He is reaching there and knows it.
Also you think it would be a good thing for the US to not have to the power to manipulate the world's oil supply? Who side are you on especially with rising gas and petrol prices?
The the general idea of it benefitting China and hurting the US is undebatable.
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We can manipulate oil in all kinds of ways that don’t involve having a fiat currency doomed to inflation. it becomes just another lever by which they can set public policy around the legislative process and the will of the people.
He’s also not reaching because he knows a gov crypto is a completely asinine argument for anyone who understands the implications of the technology which you clearly don’t so you’re still fighting a phantom threat.
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The 'fiat' system doesn't justify working with the communists because you don't like how the system works.
You keep bitching and I'll keep getting proven right time after time.
Maybe some day you'll stop jumping in bed with the communists and put America 1st?
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‘Trojan Horse’: Kyle Bass Warns China Will Use Digital Yuan to Export Tech Authoritarianism https://link.theepochtimes.com/mkt_...-to-export-tech-authoritarianism_3768891.html
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The Dominance of the U.S. Dollar During the COVID-19 Pandemic - Foreign Policy Research Institute
There have been few “winners” from the coronavirus crisis, but one stands out: the U.S. dollar. As investors realized earlier this year the size of the economic shock that COVID-19 would cause, they sold riskier assets like stocks and bonds, taking safety in cash. But not just any cash...
www.fpri.org
There have been few “winners” from the coronavirus crisis, but one stands out: the U.S. dollar. As investors realized earlier this year the size of the economic shock that COVID-19 would cause, they sold riskier assets like stocks and bonds, taking safety in cash. But not just any cash. Investors all over the world wanted U.S. dollars. Demand for dollars was so high that the U.S. Federal Reserve set up new swap lines to lend dollars to other countries’ central banks. From Shanghai to Sao Paolo, investors scrambled for dollars.
In some ways, the demand for dollars was not surprising: whenever the world economy seems riskier, investors gravitate toward greenbacks. The increased demand for dollars came even as the U.S. government was taking unprecedent actions that, according to textbook economics, ought to weaken the dollar’s value. Massive deficit-funded government spending programs coupled with a huge expansion of the Federal Reserve’s balance sheet is the type of policy that often degrades the value of a currency. Rather than getting cheaper, the dollar appreciated against its peers. The benchmark DXY index, which measures the dollar against a basket of peer currencies from other advanced economies, appreciated several percentage points this year.
The dollar’s increase in value amid the COVID crisis comes after years of predictions by many analysts that the dollar was poised to lose its status as the world’s safest asset. Overuse of U.S. sanctions, some analysts argued, would reduce other countries’ willingness to hold dollars, fearing the long arm of the U.S. Treasury. Others predicted that massive U.S. government deficits would reduce investors’ trust in the dollar. Neither of these appear to matter: The Trump administration has used sanctions more aggressively and has increased the deficit to a scale unseen since the Second World War—and the value of the dollar has gone up.
How can this be explained? There are several theories of the durability of dollar demand even in the face of vast budget deficits and expansionary monetary policy. The first sees dollar dominance as a function of U.S. military dominance, and suggests that America’s “empire of bases exists to protect the dollar’s exorbitant privilege,” as one scholar has put it.
It is true, of course, that the dollar, like the military, can be used as a tool of power abroad. The fact that the U.S. uses financial and military pressure simultaneously against rivals does not mean that military power sustains the dollar. If so, we would expect a correlation between the dollar’s value and U.S. military power. Since the mid-2000s, demand for the dollar has changed little even as U.S. defense spending declined substantially under the Obama administration, and the military capabilities of U.S. rivals such as Russia and China grew enormously. America’s military advantage over its rivals is the lowest at any point since the end of the Cold War, but the dollar’s dominance is as great as ever.
A second explanation for the dollar’s preeminent position points to income inequality as a driver. In a recent essay, Yakov Feygin and Dominik Leusder argue that growing income inequality in other countries drives up demand for savings, some of which must be parked in foreign assets. The most obvious example of this is China, which has accumulated a vast stockpile of dollar assets, notably U.S. Treasury bonds. Beijing has accomplished this via a growth model that keeps household consumption extraordinarily low. As a share of GDP, China’s households buy less than any country in the world, except for a few small city states and oil producers. A disproportionate share of China’s income goes into savings, especially the savings of China’s firms and its government. Much of this savings, in turn, is parked in dollars.
If income inequality in China were lower—and if households were given more resources to spend, either via lower taxes, a stronger social safety net, or higher wages—there is little doubt that China’s corporate savings rate would decline, and so, too, would demand for foreign currency savings. And the Chinese government’s $3 trillion in foreign exchange reserves would decline.
Why do Chinese prefer dollars to the currencies of other advanced economies, say euros, yen, pounds, or Swiss francs? Eurozone governments create many debt securities, but unlike in the U.S., where all treasury bonds are equal, not all euro sovereign bonds are the same. Investors think heavily indebted Italy is far more likely to default than thrifty Germany. But there are relatively few sovereign bonds issued by Germany compared to those issued by riskier Southern European countries. So, in general, German bonds are more expensive—and thus generally less attractive than U.S. Treasuries. If the Eurozone were to issue bonds guaranteed by the entire bloc, then there would be far more genuinely safe assets denominated in euros. However, richer Germans don’t want to be held responsible for the debts of poorer Southern Europeans, a divide that is unlikely to disappear.
It is possible to explain the relatively limited demand for euros in part as a result of inequality between Northern and Southern Europeans, just as China’s demand for dollars stems from high savings among that country’s wealthy individuals and firms. Nevertheless, inequality cannot explain why the Japanese hold so many dollars, or why so few foreigners like to save in yen. In the 1980s, many observers saw the yen as a currency that could overtake the dollar. Since then, it has had a relatively stable value and low inflation—characteristics that investors value. Why hasn’t the yen overtaken the dollar? Rising inequality cannot explain this.
A better explanation is a type of path dependency and network effects. Everyone has gotten used to trading, borrowing, and lending in dollars, and much of the world’s financial plumbing is denominated in dollars. So, there are major transaction costs to shifting to a new currency, and few obvious benefits.
The failure of the yen to make a serious dent in the dollar’s dominance shows just how hard it will be for China’s renminbi to take market share. Several years ago, Beijing was trumpeting the “internationalization” of the renminbi. But its share in global trade and finance has barely budged. And China lacks many of the characteristics of the dollar, yen, or euro, notably strict capital controls that make it hard to withdraw money from China. Hence, Chinese prefer, when they can, to save not in renminbi, but in foreign currency. The currency they most frequently chose, naturally, is the dollar.
Eventually, the deficit spending and central bank asset purchases undertaken to fight COVID may well reverse the dollar’s gains this year. But the effect is unlikely to be drastic. Every other major economy has undertaken similarly vast fiscal and monetary efforts, so the fundamentals behind the dollar look no worse in comparison with the euro or the yen. China’s government will be even more unlikely to loosen its capital controls given the economic shock of COVID, which will further deter use of the renminbi. The dollar’s dominance is unlikely to be challenged any time soon.
In some ways, the demand for dollars was not surprising: whenever the world economy seems riskier, investors gravitate toward greenbacks. The increased demand for dollars came even as the U.S. government was taking unprecedent actions that, according to textbook economics, ought to weaken the dollar’s value. Massive deficit-funded government spending programs coupled with a huge expansion of the Federal Reserve’s balance sheet is the type of policy that often degrades the value of a currency. Rather than getting cheaper, the dollar appreciated against its peers. The benchmark DXY index, which measures the dollar against a basket of peer currencies from other advanced economies, appreciated several percentage points this year.
The dollar’s increase in value amid the COVID crisis comes after years of predictions by many analysts that the dollar was poised to lose its status as the world’s safest asset. Overuse of U.S. sanctions, some analysts argued, would reduce other countries’ willingness to hold dollars, fearing the long arm of the U.S. Treasury. Others predicted that massive U.S. government deficits would reduce investors’ trust in the dollar. Neither of these appear to matter: The Trump administration has used sanctions more aggressively and has increased the deficit to a scale unseen since the Second World War—and the value of the dollar has gone up.
How can this be explained? There are several theories of the durability of dollar demand even in the face of vast budget deficits and expansionary monetary policy. The first sees dollar dominance as a function of U.S. military dominance, and suggests that America’s “empire of bases exists to protect the dollar’s exorbitant privilege,” as one scholar has put it.
It is true, of course, that the dollar, like the military, can be used as a tool of power abroad. The fact that the U.S. uses financial and military pressure simultaneously against rivals does not mean that military power sustains the dollar. If so, we would expect a correlation between the dollar’s value and U.S. military power. Since the mid-2000s, demand for the dollar has changed little even as U.S. defense spending declined substantially under the Obama administration, and the military capabilities of U.S. rivals such as Russia and China grew enormously. America’s military advantage over its rivals is the lowest at any point since the end of the Cold War, but the dollar’s dominance is as great as ever.
A second explanation for the dollar’s preeminent position points to income inequality as a driver. In a recent essay, Yakov Feygin and Dominik Leusder argue that growing income inequality in other countries drives up demand for savings, some of which must be parked in foreign assets. The most obvious example of this is China, which has accumulated a vast stockpile of dollar assets, notably U.S. Treasury bonds. Beijing has accomplished this via a growth model that keeps household consumption extraordinarily low. As a share of GDP, China’s households buy less than any country in the world, except for a few small city states and oil producers. A disproportionate share of China’s income goes into savings, especially the savings of China’s firms and its government. Much of this savings, in turn, is parked in dollars.
If income inequality in China were lower—and if households were given more resources to spend, either via lower taxes, a stronger social safety net, or higher wages—there is little doubt that China’s corporate savings rate would decline, and so, too, would demand for foreign currency savings. And the Chinese government’s $3 trillion in foreign exchange reserves would decline.
Why do Chinese prefer dollars to the currencies of other advanced economies, say euros, yen, pounds, or Swiss francs? Eurozone governments create many debt securities, but unlike in the U.S., where all treasury bonds are equal, not all euro sovereign bonds are the same. Investors think heavily indebted Italy is far more likely to default than thrifty Germany. But there are relatively few sovereign bonds issued by Germany compared to those issued by riskier Southern European countries. So, in general, German bonds are more expensive—and thus generally less attractive than U.S. Treasuries. If the Eurozone were to issue bonds guaranteed by the entire bloc, then there would be far more genuinely safe assets denominated in euros. However, richer Germans don’t want to be held responsible for the debts of poorer Southern Europeans, a divide that is unlikely to disappear.
It is possible to explain the relatively limited demand for euros in part as a result of inequality between Northern and Southern Europeans, just as China’s demand for dollars stems from high savings among that country’s wealthy individuals and firms. Nevertheless, inequality cannot explain why the Japanese hold so many dollars, or why so few foreigners like to save in yen. In the 1980s, many observers saw the yen as a currency that could overtake the dollar. Since then, it has had a relatively stable value and low inflation—characteristics that investors value. Why hasn’t the yen overtaken the dollar? Rising inequality cannot explain this.
A better explanation is a type of path dependency and network effects. Everyone has gotten used to trading, borrowing, and lending in dollars, and much of the world’s financial plumbing is denominated in dollars. So, there are major transaction costs to shifting to a new currency, and few obvious benefits.
The failure of the yen to make a serious dent in the dollar’s dominance shows just how hard it will be for China’s renminbi to take market share. Several years ago, Beijing was trumpeting the “internationalization” of the renminbi. But its share in global trade and finance has barely budged. And China lacks many of the characteristics of the dollar, yen, or euro, notably strict capital controls that make it hard to withdraw money from China. Hence, Chinese prefer, when they can, to save not in renminbi, but in foreign currency. The currency they most frequently chose, naturally, is the dollar.
Eventually, the deficit spending and central bank asset purchases undertaken to fight COVID may well reverse the dollar’s gains this year. But the effect is unlikely to be drastic. Every other major economy has undertaken similarly vast fiscal and monetary efforts, so the fundamentals behind the dollar look no worse in comparison with the euro or the yen. China’s government will be even more unlikely to loosen its capital controls given the economic shock of COVID, which will further deter use of the renminbi. The dollar’s dominance is unlikely to be challenged any time soon.
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I can’t understand why anyone would pledge such fealty to any form of government. Our forefathers would not be proud.
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Man, the ways your mighty government can manipulate you with CBDC is endless. You must be giddy with delight over such centralized power.
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It’s not a crypto, just digital fiat that gives them more and quicker central control over their subject.
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Shocker
Reminds me of the Archie Bunker saying when Gloria called him out on murder with guns which Archie replied “Would it make you fell better if they were pushed out of a window”.
Well, Would it make you feel better if the guy used fiat?
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Got to give @America 1st respect on the way he commits to a debate and the work he’s put in. Clearly the board disagrees with him for good reasons since he hasn’t made any technical points, just feels. @JordanPetersHorn has picked up a load of likes for his insight and points. I didn’t see a single agreement like for @America 1st
Bitcoin is decentralized and cannot be controlled. If the US government outlaws it then it will explode in value. It can’t be shutdown and it can’t be stoped.
Bitcoin does have a high energy use. One of the few things that has a higher energy use is the US money and banking system.
When the central bank moves to a digital currency the government will be able to see and control everything you do. They don’t like who you are they turn off your fed wallet. You’re a white male with perceived privilege, you get charged an extra 10% tax on all purchases. The list is endless.
Bitcoin is decentralized and cannot be controlled. If the US government outlaws it then it will explode in value. It can’t be shutdown and it can’t be stoped.
Bitcoin does have a high energy use. One of the few things that has a higher energy use is the US money and banking system.
When the central bank moves to a digital currency the government will be able to see and control everything you do. They don’t like who you are they turn off your fed wallet. You’re a white male with perceived privilege, you get charged an extra 10% tax on all purchases. The list is endless.
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You had a solid troll going until the bold.
“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... Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National... and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”
-- Donald J. Trump
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All cryptos are fiat lol.
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@Renegadenole
Let's see if you can dispute this video or if your argument is just all feels like the other coiners I've thrashed in ITT.
Let's see if you can dispute this video or if your argument is just all feels like the other coiners I've thrashed in ITT.
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It's amazing that people don't understand that the supply of dollars is only one facet in regards to inflation or the value of dollars.No-coiners are seething so it seems.
"Hey Siri Show me the M1 money supply"
Siri: "Ok here is what I found on the web:"
Keep holding those dollars though.
They printed all that new money and the value of the dollar went up to date.
Funny to watch people argue in the face of math an economics.
Value of the dollar is up over the last 15 years and steady of 25...
United States Dollar - Quote - Chart - Historical Data - News
The DXY increased 0.1305 or 0.12% to 105.5900 on Tuesday November 12 from 105.4595 in the previous trading session. United States Dollar - values, historical data, forecasts and news - updated on November of 2024.
tradingeconomics.com
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I don’t think anyone would adopt the fed coin or whatever they wanna do if they were able to see all you do. And they wouldn’t be able to manipulate it as easily as the dollar since I’m guessing they’d have to have some legitimate crypto backing to make it a coin at all. Also I’ve worked in pub sec IT they are significantly behind on the crypto learning curve just in general
The high energy use thing is a liberal talking point embarrassment to try and discourage that side of the aisle from looking into it. Sure it does but compared to what and so what? How much energy do we spend printing up dollars or even loose change that no one uses anymore(pennies, nickels, dimes). Alternatively the conservative talking point to dissuade people from getting it is “oh this will just help China” and the false notion that they can police the exchanges
The government does not want you to have something that they can’t either a) control the supply and b) can’t rig the value of it falsely like they do with inflation indexes and such. That’s why a lot of crypto lies and propaganda come in
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So you just dismiss facts and work with the communists because you have a desire to operate outside of the law?
Also did you really just suggest the energy consumption to mine cryptos is no big deal or that it's comparable to smithing coins?
It burns more energy than most nation's consume to mine cryptos; you don't honestly believe making coins burns that much energy do you?
You can't just dismiss facts as lies over and over again like your a crypto XiNN. At some point you gotta be intellectually honest. The whole "it's decentralized" schtick is exactly why it can't / shouldn't be used as currency or for economic activity and you know it but refuse to acknowledge it.
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I don’t dismiss facts that you provide. I’ve read every article you’ve posted and you’ve been the one to backtrack on the legitimacy of the source every time ex: the video you post about its volatility and illegitimacy as a currency with no technical specifics, the “megan the stallion coin” article, and the one with Peter Thiel where you totally backed off when he said the concept of gov crypto was a dumb idea.
Until you post some facts about how the gov is going to police exchanges, which I’ve asked for 19times, To support your claim then I’m going to assume that your fears are unfounded.
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You do realize the government already polices exchanges right?
Also I haven't backed away from anything. I post articles or videos that make some good points and you dismiss every point simply because I've stated I don't agree with every point they are making.
So here we are again where people make good specific points and you just claim "na that's not a point".
Make a case for cryptos while acknowledging the decentralized nature of some of them is a negative. Defend the zero sum nature of bitcoin.
Do anything besides just dismissing everything you don't like?
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I assume your goal here is to pitch out a softball for more dialog and debate. There are 1000's of better narratives on the interwebz that try and besmirch Bitcoin compared to this simple video.
Crypto is a broad term, Bitcoin is the standard-bearer. I'm going to use Bitcoin for this argument (maybe we should start another thread to debate the one true "crypto", would be interesting).
The guy leads off the video trying to compare using 500 cows to buy a car to that of using Bitcoin. This tells me a few things right away, one, he didn't put much thought or research into the video, two, he clearly doesn't understand the value of the commodities he's trying to discuss, three, he doesn't understand the difference between fungible and non-fungible assets. Besides all that, Bitcoin can actually be used to buy a car.
Bitcoin is widely accepted and gaining more traction every day. Paypal accepts it for payment, most bank and large companies hold it on their books, governments around the world are investing in it. Also Bitcoin, being completely decentralized, is the most secure form of value ever created and cant be manipulated through government monetary policies.
Energy, please, it's completely absurd to point out the amount of energy used for Bitcoin and not also call out a denominator. But assuming it's compared to the US dollar, Bitcoin consumes multitudes less energy. If Bitcoin was the only currency used world wide the energy savings could probably feed most of the globes third world countries. The US Banking industry alone is one of the largest users of energy in the world. It's knowable, do the math.
Bitcoin is a store-of-value. It is not a net sum zero asset, meaning one person doesn't have to lose for the other to gain. Bitcoin is not intended to generate wealth longterm although it will in the short term. Bitcoin has a finite number and when its reached it will be the most stable form of currency/wealth the world has ever known.
The US dollar is likely the most common currency used for nefarious means and if you're in a hurry to see the next world war just keep pushing one fiat currency ahead of the others and see what happens or has happened. How's that for a dirty and costly fiat currency?
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Nice attempt at trying to just dismiss valid points with lies. Bitcoin "isn't negative sum producing"
Appreciate you making your opinions clear even if they are blatantly misguided.
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You may not have a choice but to accept the CBDC. Especially when all the small minded people start to parrot that its for the greater good.
Not sure why you would think it would be harder to manipulate. You would have a "fed" wallet that would be completely controlled. Maybe even special buying restrictions, special taxes, etc.
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I don't think those words mean what you think they mean. Bitcoin is being mined everyday and increasing in value. How is that a negative sum value?Nice attempt at trying to just dismiss valid points with lies. Bitcoin "isn't negative sum producing"
Appreciate you making your opinions clear even if they are blatantly misguided.
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Nothing like arguing that there will be world war because the US dollar is the world's reserve currency even though the only two world wars happened when there was no reserve currency for the world...
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“Not have a choice” nah youd always have the choice to keep your bitcoin. Sure they can set up a fed wallet in my name but I’m not just gonna convert all my coin all of a sudden especially when they have no way of policing some exchanges
Im saying it would be harder if they went with what an ideal crypto is supposed to be in that it’s limited supply and can be verified across the board. Not saying they would do that but that’s just the assumption I make as far as what they would choose for design considerations
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It's why we use critical thinking and logic. Or maybe you really believe that wars were not fought over money. Maybe you don't understand the term decentralized like struggling with the meaning of negative sum zero.
