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Thread: Bitcoin ‘seems like a scam’: Trump

  1. #1

    Bitcoin ‘seems like a scam’: Trump



    Trump is right on bitcoin but he is wrong on the dollar.



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  3. #2
    He said bitcoin is a scam, but then he also said that it is competing against the dollar and he doesn't like that because he wants the dollar to be the currency of the world..
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  4. #3
    I gotta laugh when Trump says something sounds like a scam.

    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  5. #4
    Quote Originally Posted by dannno View Post
    He said bitcoin is a scam, but then he also said that it is competing against the dollar and he doesn't like that because he wants the dollar to be the currency of the world..
    The dollar looks to be on a spiral in the wrong direction .
    Do something Danke

  6. #5
    Quote Originally Posted by oyarde View Post
    The dollar looks to be on a spiral in the wrong direction .
    So does bitcoin.

  7. #6
    Quote Originally Posted by 69360 View Post
    So does bitcoin.
    Wrong direction for the elite?

    It was at about 10k last fall.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  8. #7
    Quote Originally Posted by CaptUSA View Post
    I gotta laugh when Trump says something sounds like a scam.


    It's not his scam.
    "The one permanent emotion of the inferior man is fear - fear of the unknown, the complex, the inexplicable. What he wants above everything else is safety."
    H. L. Mencken

    Quote Originally Posted by Swordsmyth View Post
    Survival trumps liberty every time
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  9. #8
    Quote Originally Posted by dannno View Post
    Wrong direction for the elite?

    It was at about 10k last fall.
    Halved in value in the last month. It's become more of a pump and dump scheme for celebrities and the elite lately. If it was a stock people would be in prison for manipluation and insider trading. Also it doesn't work as a payment method becasue it's too volitile, which was it's original intention. It's become more of a wildly speculative assett now. It will be regulated out of existance eventually I think.



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  11. #9
    Quote Originally Posted by 69360 View Post
    Halved in value in the last month. It's become more of a pump and dump scheme for celebrities and the elite lately. If it was a stock people would be in prison for manipluation and insider trading. Also it doesn't work as a payment method becasue it's too volitile, which was it's original intention. It's become more of a wildly speculative assett now. It will be regulated out of existance eventually I think.
    Well obviously what is needed is a centralized state agency to oversee an electronic currency, to ensure that booms and busts aren't so severe. oh wait...
    "The issue is that you to define the best candidate solely based upon what they stand for." - CaptLouAlbano

    This is the mindset trying to take hold on RPF.

    "Kelly Thomas did this to himself." - FrankRep

  12. #10
    Bitcoin does seem like a scam to most people , however those same people cannot understand what an incredible scam the FRN is. Proving to you there is no hope for these people to ever have a basic understanding of about anything .
    Do something Danke

  13. #11
    https://www.sfgate.com/business/arti...y-16230115.php

    Nayib Bukele , president of El Salvador , announced in a video that he hopes to make his country the first state to adopt bitcoin as legal tender in its territory.

    As reported by CNBC , the president made it known, during the Bitcoin 2021 conference in Miami, that he will send a bill to Congress next week.

  14. #12
    Quote Originally Posted by 69360 View Post
    Halved in value in the last month. It's become more of a pump and dump scheme for celebrities and the elite lately. If it was a stock people would be in prison for manipluation and insider trading. Also it doesn't work as a payment method becasue it's too volitile, which was it's original intention. It's become more of a wildly speculative assett now. It will be regulated out of existance eventually I think.
    Has it not proved to be an excellent longterm store of value?

    Even if you bought at the peak at around $20k at the beginning of 2018, less than four years later it has almost doubled. If you bought less than a year ago at $10k, it has more than tripled.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  15. #13
    Quote Originally Posted by dannno View Post
    Has it not proved to be an excellent longterm store of value?
    "The one permanent emotion of the inferior man is fear - fear of the unknown, the complex, the inexplicable. What he wants above everything else is safety."
    H. L. Mencken

    Quote Originally Posted by Swordsmyth View Post
    Survival trumps liberty every time
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  16. #14
    Quote Originally Posted by dannno View Post
    Has it not proved to be an excellent longterm store of value?

    Even if you bought at the peak at around $20k at the beginning of 2018, less than four years later it has almost doubled. If you bought less than a year ago at $10k, it has more than tripled.
    What if you bought at 60k?

    Eventually the pyramid scheme will collapse, the feds aren't going to let this go on forever with no regulation.

    Don't get me wrong it can make you some excellent short term profits, there is no argument there. I missed the boat on bitcoin. I tried to get in on the first dogecoin pump and dump, but all the exchanges were crashing constantly and I couldn't buy.

  17. #15
    Quote Originally Posted by 69360 View Post
    What if you bought at 60k?

    Eventually the pyramid scheme will collapse, the feds aren't going to let this go on forever with no regulation.

    Don't get me wrong it can make you some excellent short term profits, there is no argument there. I missed the boat on bitcoin. I tried to get in on the first dogecoin pump and dump, but all the exchanges were crashing constantly and I couldn't buy.
    If you bought at $60k, you will very likely be doing great in a few years. That's why I keep saying longterm store of value.

    You clearly have some severe misunderstandings of bitcoin. First, bitcoin doesn't have borders, so it doesn't really matter what one country or another does. Bitcoin is global, it is extremely unlikely it will be "killed" by anything.

    Second, bitcoin is already highly regulated by the US Govt. You literally just said "let this go on forever with no regulation". That is a completely preposterous statement.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  18. #16
    Quote Originally Posted by 69360 View Post
    What if you bought at 60k?

    Eventually the pyramid scheme will collapse, the feds aren't going to let this go on forever with no regulation.

    Don't get me wrong it can make you some excellent short term profits, there is no argument there. I missed the boat on bitcoin. I tried to get in on the first dogecoin pump and dump, but all the exchanges were crashing constantly and I couldn't buy.
    The biggest issue is people conflating the other digital currencies with Bitcoin. Ethereum, dogecoin, or whatever other meme coin of the day are just tokens created by a central entity. Bitcoin is limited to a theoretical limit of 21 million that can't ever be reached. What people fail to understand is where the value comes from. The value comes from the transactions themselves and their verification through mining.

    The only real risk is that it actually was created by a government entity that has a back door no one has been able to find. Everything has some level of risk. Even precious metals. What happens when the gestapo come to take yours? Do you really believe that it's hidden so well they can't? I certainly wouldn't put everything I own into it, but I do think Bitcoin compliments PMs really well.



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  20. #17
    Quote Originally Posted by dannno View Post
    Has it not proved to be an excellent longterm store of value?
    I would say that it takes longer than the 12 years that Bitcoin has existed to prove that.

    I don't really have a dog in the fight. I like that people have a serious competing currency. But from the outside I don't see how to tell if Bitcoin's current price is stable and likely to keep increasing over the long term, or just a tulip mania kind of thing.
    There is nothing to fear from globalism, free trade and a single worldwide currency, but a globalism where free trade is competitively subsidized by each nation, a continuous trade war is dictated by the WTO, and the single currency is pure fiat, fear is justified. That type of globalism is destined to collapse into economic despair, inflationism and protectionism and managed by resurgent militant nationalism.
    Ron Paul
    Congressional Record (March 13, 2001)

  21. #18
    Has Epstein sold all BC investment he may have had?


    MAGA playing jiggy with the gullible base's brains again?


    MAGA straight-shooter-in-chief stayed quiet throughout his term as Warp Speed BC rise (in parallel to other Warp Speed spendthons) took place under his watch; what is driving this 'outing' now suddenly just as Tesla's Musk also appears to be talking it down?
    Anyways, heard that globalist neocon funded MAGA leader is now surrounding himself with another neocons wars cheerleader and fakenews artist Bill O'Really.

    WARP SPEED WTF CHART






    Jeffrey Epstein's bitcoin intrigue deserves scrutiny at MIT
    finance.yahoo.com
    Sep 12, 2019 — Joichi Ito, director of MIT's Media Lab, resigned after The New Yorker published an investigation into his attempts to conceal contributions from ...

    Un-proven:
    Did Jeffrey Epstein Invent Bitcoin?
    jameslparis.medium.com
    With the arrest this week of Ghislaine Maxwell, the secrets Jeffrey Epstein took to his grave ...


    This was probably just coincidence.

    forbes.com/sites/jonathanponciano/2021/06/08/crypto-markets-crash-again-after-doj-seizes-23-million-bitcoin-ransom/




    Unrelated

    Alleged Israeli spy Epstein had 'spoken to the Saudis' about investing in Elon Musk's Tesla

    BlackRock Authored the Bailout Plan Before There Was a Crisis


  22. #19
    This may again show that US is still the global leader :

    China’s renewed crypto crackdown wipes $400 billion off the market as bitcoin slides

    Mon, Jun 21 2021
    Key Points

    • China’s renewed crackdown on the cryptocurrency industry has wiped off around $400 billion in value off of the total digital currency market since Friday.
    • Bitcoin, ether, XRP and other digital coins fell sharply.
    • On Friday, authorities in China’s Sichuan province, ordered cryptocurrency miners to shut down their operations.
    • The People’s Bank of China urged financial institutions not to provide services related to cryptocurrency activities.

    cnbc.com/2021/06/22/china-crypto-crackdown-wipes-nearly-300-billion-off-market-btc-slides.html



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