This despite the fact that the new administration coming in has already vowed that they are not only going to create a federal Bitcoin reserve, but also pardon Ross Ulbricht for his "crimes".
The sheep fears the wolf but inevitably gets eaten by the shepherd.
Granted I know nothing of how this stuff operates but I know a whole lot about how Trump operates, and the likes of Vivek, and now how Elon really feels about the average American and could give two fucks.
So I read an article a few weeks ago on Trump's intent to build a bitcoin reserve. They had experts chime in on the prospects of that, and basically they said a reserve is just that, a reserve, and there's really nothing they can do with it. I think I saved the article, I'll have to look tomorrow. The big question in my mind was why build a reserve of something you can't do anything with. The only answer I could come up with after having seen how many experts they have coming in to possible set up a crypto system with regulations is that if that system doesn't have anything to do with using Bitcoin, it would be to drop that reserve onto the market and crash Bitcoin down to being near useless, where they'd obviously want it at that point especially if it was created and intended, or even scapegoated for a test system of how digital transition currency would perform before a global adoption of a digital currency. Bitcoin as it functions is to cumbersome for global adoption. Maybe the mechanisms in place wouldn't be for a regional currency, but globally it would be to burdensome.
Like I said I have no experience in the Bitcoin market, though you'd like to think they have your best interest at heart, that simply hasn't proven true. This type of pump and dump is how Vivek made his billions, and it's DARPA that controls bioweapon level 4 labs, Trump that gave ten times more than any other president to Eco Health Alliance of which over twenty six million of that went to DARPA before it went onto EHA pockets. Thiel and Musk are DARPA. Vivek? He bought the patent technology for the LNP that went into the covid vaccine that big pharma sold him after it failed studies, and, like I stated, he made his money by shielding his shares of money behind his company Roivent while investors into failed "rebrandings" of patents he bought off big pharma lost millions. Trump is your shepherd, he'll gladly eat people up for the right amount of money. I mean really dude, protect yourself and just keep those thoughts in the back of your mind as you traverse this new reality, don't let the joy of it blind you to their nefarious ways. I am not saying any of this would happen, just they have a track record of deception. This is a guy, who, after all, is about to be inaugurated, going to throw a billionaires ball while out today asking his supporters to send him money as they just convicted him, he'll take everything away from them plus some, just keep your eyes wide open.
This response doesn't really feel like it's for me.
I mean my brand is anti-establishment and often left-leaning political ideology.
I'm never going to tell people they can fix the system from the inside.
Bitcoin, like any other collateral, can be leveraged into debt and derivatives.
The Bitcoin doesn't need to do anything unless there's a margin call.
In which case it just needs to be sold/transferred, which is something the government already does.
I know you lean left.
Trump is still your shepherd, he's leaned left his entire life until him and all the blue billionaire backers who've come out of the closet behind him recently decided to run one of the biggest cons to gain the presidency in American history.
Okay, so all that's beside the point.
Question: what happens if they were to literally dump millions/billions of bitcoin all at the same time.
I have never put any stock into any politician ever.
You are grasping at straws.
I am an anarchist above all.
Trump is a fucking dumpster fire.
The value being built in crypto doesn't come from dollars.
When you build something the value comes from having built it.
Key point that 99% of the people that are here don't seem to get.
What happens if Bitcoin is volatile?
That can't be a serious question.
It's the most volatile asset we've ever seen.
That's not a hypothetical that's already the reality.
If number goes down then number goes down just like it always has done.
"But what if billionaires like attacking Bitcoin more than they like money?"
Yeah well they don't and also I don't care, just like all the other diehards.
I always got the impression you were more of a libertarian, doesn't matter I can tend to get along with just about anybody regardless of political affiliation, of course there are limitations many place on that, like it's my way or the highway but so be it for them, whatever. Sort of shocked at the anarchist angle, didn't see that coming I guess.
Stock is stock regardless of what level of the barrel you pull it from. I just left a post of you putting some stock in Trump's inauguration might rise bitcoin a bit. I am sort of a bird of a different feather and I read into everything, and Valuedcustomer will argue the same point as you, and I'll argue back when you say the PM of Canada walked away in shame after visiting Trump realizing he's not the man Trump is, or however many words he used to describe it, that, to me, is still stock, he has more ability to be a man than the PM. I know it's incredible hard to comprehend where my mind goes, it's nothing personal, it's just the way I read into everything I read. Ralph, as I call VC, have gone back in forth in that manner for a few years now, never a dull minute around him, and I actually enjoy his insight.
I KNOW IT'S NOTHING PERSONAL YOU'RE A FUCKIN AUTIST JUST LIKE EVERYONE ELSE IN CRYPTO AND SEE YOU MIGHT THINK I'M YELLING BECAUSE IT'S ALL CAPS AND SWEARING BUT THIS IS JUST MY NORMAL VOICE.
but yeah you really should not be shocked about anarchy because anarchy is the entire thesis of crypto. Most people view anarchy as lawless chaos where anything goes but the actual definition of anarchy simply boils down to something like "Rules without Rulers". There are still plenty of rules to follow you just can't put a person in charge to enforce them. Either everyone has the authority to perform a certain action in a certain situation or no one does.
Oh the base level crypto already accomplishes this on a rudimentary level. Algorithms and smart contracts on the network run themselves without interference. Because the digital landscape is infinite in nature and everyone here gets to pick which type of governance they want that is also inherently anarchist.
Plenty of arguments for why Hive is not anarchist, as the top of DPOS is much more akin to a new type of republic, but also that republic is not creating laws that we have to follow under the threat of imprisonment or death. Everyone has the option to leave (and more importantly cashout) whenever they want. Nobody's bank account gets frozen ever... except for that one time when the person in question threatened to destroy the network and actually had the power to do it using stake that never should have existed in the first place. Some would argue that being able to handle extreme outliers such as this is a good thing, and others would not. Which is kind of the entire point: we get to choose where we are and what we agree with as long as there is a network that represents our interests.
There is so much I could say to some of that but it'd go in one ear and out the other. I'll just stick to mostly what I've been doing following you for the last few years, finding solace in your humor.