Trump embraces fake money called bitcoin

[Crepitus]

I don't understand it....Must be the boomer in me. I suspect I have a sliver on paper as one of my funds invests a little in it.

That said I'm not a metal monger either as a lot of my peers are.

There was a time when peppercorns were worth more than gold.....I always bear that in mind.....Can't season food with gold dust.

Salt too.

 

[kyzr]

He is merely using the Bitcoins the Feds took in civil forfeiture.

The order also said that the U.S. wouldn't acquire more stockpile assets beyond those forfeited in criminal or civil proceedings "without further executive or legislative action."​

So, what is the beef?

we're not bitchin' about Trump, just Bitcoin in general.

 

[rightwinger]

No .
All money is a promise of redemption at an agreed market rate .
Some achieve . Others do not .

Something which the US $ cannot do ( it's not really worth 50 cents) , but BCT does .

My excrement can serve as money if a market forms around its mutually agreed fixed value or Exchange Rate .
Great investment .
Am intending a Floatation if you wish to hold a few Turds as a precaution against the US $ falling further down the pan .

Problem with Bitcoin is that it’s value is based on demand.
What happens when a new cryptocurrency becomes the hot commodity and everyone unloads their Bitcoin to buy it?

 

[egp320i]

Problem with Bitcoin is that it’s value is based on demand.
What happens when a new cryptocurrency becomes the hot commodity and everyone unloads their Bitcoin to buy it?

ethereum is becoming more popular and it does not seem to be denting bitcoin yet, apparently you can't mine eth anymore, it has some new block chain algorithm or something I can say I don't really understand

 

[d0gbreath]

Way too volatile for me.

 

[RoshawnMarkwees]

All money is fake....

It’s not fake, it’s conceptually representative. Its substance is based on the tangible. The only difference between a dollar bill and bitcoin is paper.
Like reading your mailed paper bank statement vs on your bank’s website.

 

[Andrew_Jackson_FTW]

 

[konradv]

View attachment 1136573

Reminds me of MAGA conspiracy theorists. No evidence is ever enough.

 

[egp320i]

View attachment 1136573

bitcoin is kinda of a ponzi as there are only so many coins to be "mined" once it's done what value can it really have? it's virtual cash which can virtually go away at any time depending on circumstances

at any point those who hold it can panic and sell it and it tanks

 

[OhPleaseJustQuit]

Reminds me of MAGA conspiracy theorists. No evidence is ever enough.

Irony.




.

 

[Andrew_Jackson_FTW]

bitcoin is kinda of a ponzi as there are only so many coins to be "mined" once it's done what value can it really have? it's virtual cash which can virtually go away at any time depending on circumstances

at any point those who hold it can panic and sell it and it tanks

Here’s the issue and why it wouldn’t make sense to claim that bitcoin is some kind of a scam or Ponzi scheme. Folks have been saying that since the coin has been worth a few hundred dollars. And they kept on saying it when It went up to 5000, 10,000 25,000 75,000 the same thing over and over. … major corporations are now buying the coin and have been for a few years. Finally the coin is being used in multiple day to day transactions.

 

[konradv]

Irony.

 

[marvin martian]

Trump Launches US Strategic Bitcoin Reserve, 'Digital Asset Stockpile'

President Donald Trump signed an executive order establishing a U.S. strategic bitcoin reserve, as well as a "digital asset stockpile" for other cryptocurrencies, but put potential limits on buying more of the tokens beyond what is held by the federal government.

www.investopedia.com

It is stunning that President Trump has actually decided to give credibility to fake money, which ought to remind students of history of the Duke of Orleans and John Law’s fake money scheme which ended in the Mississippi Bubble and the good people of France paying the price of John Law’s fake money.

Has anyone noticed when our big media talks about “bitcoin” the following image is shown?

And that is part of the con . . . there is no tangible thing as a bitcoin, it has no intrinsic value its worth is based upon abstract figures generated by the human mind, and most importantly, it is trading in the shadow and not the substance. And that is why its advocates have invented an image of a bitcoin . . . a necessary gimmick in giving credibility to an illusion.

Hopefully someone during Trump’s next news conference will ask President Trump to display one of the “bitcoins” he’s decided to stockpile at the taxpayer’s expense.

What's in your wallet is "fake money", too.

You do know we've been on a fiat currency since the 1970s, right?

 

[konradv]

What's in your wallet is "fake money", too.

You do know we've been on a fiat currency since the 1970s, right?

Money is whatever we say it is. It’s backed by the US economy, which Trump is in the process of destroying. If we were to go back to a gold standard at the current price, we’d have less than a trillion dollars. Most money would still be “fake”.

 

[marvin martian]

Money is whatever we say it is. It’s backed by the US economy, which Trump is destroying. If we were to go back to a gold standard at the current price, we’d have less than a trillion dollars. Most money would still be “fake”.

That's what "fiat currency" means, dipshit.

 

[konradv]

That's what "fiat currency" means, dipshit.

Tell us why fiat currency is bad.

 

[OhPleaseJustQuit]

What's in your wallet is "fake money", too.

You do know we've been on a fiat currency since the 1970s, right?

.

The only "money" I own is the shiny yellow and white stuff in my safe.

And it works for me!


.

 

[marvin martian]

Tell us why fiat currency is bad.

There's no way you'll understand that, you're WAY too dumb, but having a currency that isn't backed by actual assets means it only has value if agreed to by the parties who use it. It's fake money.

 

[konradv]

There's no way you'll understand that, you're WAY too dumb, but having a currency that isn't backed by actual assets means it only has value if agreed to by the parties who use it. It's fake money.

Bretton Woods was the agreement. NEXT!

 

[egp320i]

View attachment 1136919


Here’s the issue and why it wouldn’t make sense to claim that bitcoin is some kind of a scam or Ponzi scheme. Folks have been saying that since the coin has been worth a few hundred dollars. And they kept on saying it when It went up to 5000, 10,000 25,000 75,000 the same thing over and over. … major corporations are now buying the coin and have been for a few years. Finally the coin is being used in multiple day to day transactions.

not really a scam but it's virtual cash which can virtually go away if the market dictates it