Manipulation, criminal activity, and foreign state actors are all likely.
Sad for the people of El Salvador. Perfect example of why it’s not “currency” though and a shitty store of value product / asset.
Biden coming after cryptos (@America 1st was right again)
- Thread starter America 1st
- Start date
Sad for the people of El Salvador. Perfect example of why it’s not “currency” though and a shitty store of value product / asset.
I think this is known as "staking". Not sure how I feel about it, haven't looked into the mechanics thoroughly
Manipulation - Can, and has been done, with all physical currencies. Gold and silver markets are infamous for mainpualtion.
Criminal activity - Have you seen EL Chapos billions? What currency were they in?
Foreign state actors - we know that N Korea counterfeits US currency.
I agree the jury is still out on BTC but not because of any of the above reasons.
It’s not a vs dollars thing. We’ve already proven why cryptos aren’t currency and could never be.
Sure all those things happen in dollars but they’re not hallmarks like they are with BTC and cryptos. We know the majority of all crypto transactions represent criminal activity and that’s being VERY conservative.
Dollars at least have positive qualities and serve a vital purpose. The same can’t be said for BTC or any other crypto.
You could remove all cryptos from the world tomorrow and the world would be a mutch safer, healthier, and more efficient place.
Sikness23245
Elite
HODL. Diamond hands!!!
Should be illegal IYAM.
I’m old enough to remember when folks said it wouldn’t happen…
Is it just a coincidence that the countries with the most crime dabble in Bitcoin the most?
I’ll remind you that dollars are used in crime exponentially more than Bitcoin.
No not even close.
50% of all Bitcoin transactions are for criminal purposes.
50% of all dollar transactions are definitely not for criminal purposes.
Even if dollars did have that much criminality they still represent a sovereign nation’s currency where Bitcoin was specifically designed to destroy sovereign nations and support criminal activity. It wasn’t designed to be currency, to support economic activity, or to do any of the positive things dollars do.
Bitcoin is preferred by tyrants and dictators yet again:
www.breitbart.com
Salvadorans march against bitcoin and 'dictatorship' - Breitbart
Thousands of Salvadorans protested Wednesday against the government's introduction of bitcoin as legal tender in the impoverished country as well as
www.breitbart.com
Globalists gonna support trying to destroy sovereign nations.
Tweeter vs China.
China announces this morning that all crypto related activities are illegal. Price of BTC down only $2,000 to ~$43,000. Thought it would be down more than that. The fact its not crashing says something of its resiliency.
China announces this morning that all crypto related activities are illegal. Price of BTC down only $2,000 to ~$43,000. Thought it would be down more than that. The fact its not crashing says something of its resiliency.
Countries, leaders, Elon, war mongers, elitists and americafirst is finding out they can’t change Bitcoin, Bitcoin changes them.
Selloff intensifying, now down $4k on the day and trading $41,000.
It seems like this is a bid deal. China government is a massive power obviously and cryptos had a large user base in that country. So i would think it would hit the market pretty hard. I guess a 10% hit is a pretty big one but just seems like it could have more to go.
On the flip side, like @Zgdaf is saying, if BTC weathers this storm that is a pretty big statement for its long term viability and would seemingly be long term bullish.
It seems like this is a bid deal. China government is a massive power obviously and cryptos had a large user base in that country. So i would think it would hit the market pretty hard. I guess a 10% hit is a pretty big one but just seems like it could have more to go.
On the flip side, like @Zgdaf is saying, if BTC weathers this storm that is a pretty big statement for its long term viability and would seemingly be long term bullish.
Chyna getting smart.
What do you mean weathered the storm?
It hasn’t weathered anything it’s ever been through.
It proves more and more every day that it has no positive qualities and that at best it’s a store of value asset (it’s awful at that too). Given it’s propensity for illegal activity, and the above, it’s pretty clear its time for it to be made illegal.
The only reason it isn’t is because the central banks, autocrats, corrupt politicians, and terrorists need to keep their money laundering activities afloat.
That is a disingenuous statement. It fought its way from $0.00 to $70,000. From a $0 market Cap to a Trillion dollar market cap. It has weathered all types of storms so far. Can it weather the geo-political storm? It seems to be doing pretty well at $42,000 per coin and this is after the largest, arguable most powerful, country in the world denounced it.
It’s pretty disingenuous, IMO, to suggest that it’s market cap or ‘value’ per coin reflects it weathering anything.
National Socialism got pretty popular too before it all imploded. Communism is more popular now than when it was introduced.
Propaganda does wonders on the sheep. Arguably nothing has more propaganda support right now than Bitcoin.
Terrorists love Bitcoin.
I’ll bite.ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
BTC back above $50,000 AFTER china bans it. Wow, that is a pretty big statement iyam.
Why is that a big statement?
Is it a bigger statement than the US continuing to sell BTC because they realize they can just continue to seize it indefinitely because it’s just a money grab scheme anyways?
Because arguably the worlds largest superpower (ahem, china) just banned it and that had no effect on its value. I think that is a huge statement.
How is the US continuing to sell BTC. I dont get what you are trying to say?
The US seizes cryptos of all kinds for varying reasons and sells them at auction.
They seized 1.2B in crypto in FY 2021.
Let’s not call Chyna a superpower. They don’t meet the definition.
Chyna has gone back and forth on banning cryptos multiple times. There was a sizable drop when it happened and now the values has rebounded slightly. It’s what we would / should expect from any asset that is in demand (and supposedly has value).
I’m left wondering why the value hasn’t gone up significantly / more since. We always hear from coiners that banning BTC drastically increases its value yet we didn’t see that happen.
Last edited:
Bitcoin soars to five-month high on seasonal factors, Soros news
NEW YORK (Reuters) -Bitcoin surged on Wednesday to its highest level in five months, as market sentiment continued to improve due in part to news a hedge fund controlled by billionaire investor George Soros trades bitcoin. Bitcoin was last up 6.3% at $54,750. According to reports on Wednesday...
Cruising through $55,000 level. Coincidence that Mcconnell budged and the probabilities of the dims passing more free money which will cause inflation? More inflation = BTC going higher. Who knows where it will stop.
Mitch actually made it harder for them to pass that bill by forcing them to use reconciliation to lift the debt ceiling in December.
Bitcoin soars to five-month high on seasonal factors, Soros news
NEW YORK (Reuters) -Bitcoin surged on Wednesday to its highest level in five months, as market sentiment continued to improve due in part to news a hedge fund controlled by billionaire investor George Soros trades bitcoin. Bitcoin was last up 6.3% at $54,750. According to reports on Wednesday...finance.yahoo.com
Cruising through $55,000 level. Coincidence that Mcconnell budged and the probabilities of the dims passing more free money which will cause inflation? More inflation = BTC going higher. Who knows where it will stop.
They might still get something through but it’s not gonna be as bad as it once was.
We’ll see what happens
I don’t think you can consider China a superpower. At least, not by traditional standards. They have very little ability at force projection and don’t really have a blue-water navy. They are certainly trending toward that status but they aren’t there yet imo.
Their aging population and debt burden make it so that they’re not even gaining power anymore.
The financial crisis they’re experiencing right now is one of the many cracks in the armor.
If the US can expand the economy and keep the debt down over the next two decades we’ll have won the Cold War with China.
These are very good points. I’m worried about what China will attempt to make sure that doesn’t happen. Obviously Covid was a first step at regaining power (or at least trying to level the playing field).
Agreed that Chyna virus was intentional.
They know leadership like Biden is exactly the sorta thing they need if they want Taiwan and for the US economy to fail (see every Biden policy so far and planned spending).
It’s pretty obvious who’s controlling whom in this scenario. Biden is a traitor.
Soros likes Bitcoin. Says it all…
