Bitcoin doesn’t move like the stock market. There’s no hedge funds to call to naked short a nonexistent Bitcoin Inc in to the dirt. This means nothing.
That said I’d live bitcoin to go to a penny. I’d buy and hodl. I’d buy and hodl hard.
That said, fuck Trump. But not literally because his lineage should be pruned.
Monero is what Bitcoiners thought they bought. It’s completely fungible and private just as cash is supposed to be.
It’s also completely unsustainable like bitcoin. There’s no long term future in proof-of-work.
Monero uses RandomX which must be done only on CPU which limits power consumption drastically and promotes decentralization rather than mining farms like bitcoin. Both of those combined will make it much easier for utilities to handle it. Since one utility won’t be getting hit with extreme load from mining farms all in one single area, such as Texas. You’ve also got to consider how much electricity does the banking industry as a whole use for building their buildings, bringing employees to work, shuttling money around in armored trucks, all that stuff. There’s probably tons I’m not even thinking of. Proof of work is better than proof of stake simply because a governmyth can’t print more of their crap fiat currency and buy up more stake in order to hurt the network. If a government wants to attack Ethereum, they just print more fiat currency and buy Ethereum. If they want to attack Bitcoin or Monero, they have to buy the equipment to do so and then plug it in and use power. They would have to sacrifice something real in order to do that.
Monero is great. Only crypto currency I actually use. Transactions are also waaay cheaper and faster than with Bitcoin.
It’s really the only one worth using.
It’s also the one being targeted by governments, who are trying harder and harder to track consumer spending.
Even if you don’t like crypto generally, consider using Monero as a middle finger to governments. Don’t hold any long term, just make a few purchases here and there.
I think it’s worth using long-term. If they are targeting it so hard, that must mean that it actually works. Because otherwise, why would they be going after it so damn hard?
Exactly. I don’t think they can track transactions, so the next best thing is to make it illegal. If more people use it for regular transactions, it’s even harder for them to ban.
Problem is, is that they can’t even really truly make it illegal. As long as any cryptocurrency is legal, no matter what it is, you can always buy Monero, either with it or by exchanging it for Bitcoin or Litecoin and then exchanging that for Monero. Also, the decentralized exchange, Haveno launched a month ago today and there is no way to shut it down. It’s a peer to peer decentralized exchange all done over the tor network. Good luck without killing the internet entirely.
Tin-foil hat time but I’d be willing to bet they have mechanisms to do something resembling naked shorting with crypto. I have no idea what that voodoo might be, but they conjure shares out of thin air for shorting stocks, and they’ve managed to package crypto into ETFs some-fucking-how so why not. I feel like I’m increasingly noticing that nothing really seems to crash anymore.
Bitcoin has been moving like the stock market since 2020. Big investors got involved, small investors lost trust in stocks. I don’t fully expect the current halving to cause the rally like all the other times it halved. That is assuming it doesn’t keep bombing shortly after breaking $69,420, what I suspect is a meme sell limit price.
Make me some money!!
Its trump. He bankrupted THREE casinos. And you trust THIS GUY to make you money???
If they buy crypto like his bumper stickers I will make money. It’s not like the stock market and crypto aren’t already played out by rich people playing games. It’s just another corrupt rise on the chart it will all always crash. (Not an endorsement… I already have crypto.)
This post reminded me that I also still had Bitcoin that I wanted to swap for Monero. Think I’m gonna wait a bit for the Trump supporters to buy in, they’ll just do whatever he says without a second thought.
he couldn’t even hide an affair.
“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday.
lol, no shot he wrote this.
He probably can’t even read it. “Man. Woman. Camera. CBDC.”
He did just have a fund raiser in SF with some billionaire crypto bros…so he may not have
Bet Trump has moved campaign money to buying bitcoin through some shady investment vehicle.
If this is a move to commit dark money campaign fraud again before his sentencing on the last case of it is even done I would want to see a live reaction of the judge when he hears that
Don’t think anyone is all that surprised by the depths of Trump’s corruption at this point.
It’s like trying to watch a 5 year old lie about eatching chocolate, when theres chocolate on their nose.
It would be funny and adorable if he weren’t so hateful and racist, with real world consequences.
This is the best summary I could come up with:
Last month, his campaign began accepting crypto donations, calling the decentralized currency a reflection of Trump’s commitment to “freedom over socialistic government control.”
“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday.
The former President met with the country’s largest Bitcoin mining companies on Tuesday night, according to The New York Times and several photos posted by crypto executives.
Trump may be hard-pressed for cash these days given his recent conviction, ongoing legal cases, and, oh yeah, the upcoming 2024 Presidential Election that’s less than five months away.
The crypto community, which is searching for allies in D.C. to create friendlier policies, could offer a meaningful source of funding to Trump in this critical final stretch.
Tech venture capitalists David Sacks and Chamath Palihapitiya also just threw a fundraiser for Trump last week, which drew high-profile Bay Area executives and big donations.
The original article contains 435 words, the summary contains 157 words. Saved 64%. I’m a bot and I’m open source!
Taking pointers from Elon’s playbook with Doge, I see.
I’m quite frankly glad to see this, because that means that the United States will have no ability to ban it, what with the ETFs and everything, and as long as you can buy any kind of crypto at all, you can buy Monero. Also, the launch of decentralized peer-to-peer exchanges is helping to give the middle finger to the government.
…I’m so out of the loop here. I want to say I disagree with you, because it sounds insane, but I don’t know enough about the subject matter to dispute it. What the hell is Monero?
I really want to hate crypto but I don’t know anything about it.
This is surprisingly common.
Yet another fake currency for drug dealers.
I don’t know. Personally, I haven’t dealt any drugs using it. But I have purchased groceries for the last year and a half with it. You have a right to be private with your money. Would you want absolutely everybody knowing everything you spend your money on and when you spent it? Forever? Personally, I don’t.
“Fake money for drug dealers” is just a general crypto joke from a meme I saw here on lemmy. It just so happens that the flavor of fake money that you fell in love with actually is for drug dealers.
You’ve got me curious now though. It’s apparently important to you to keep the details of your grocery purchase completely private and that’s totally fine if it makes you happy. I don’t need to understand it to accept it. What I want to know is how far do you go to protect that privacy? Do you give Instacart your neighbor’s address? Do you use a fake name?
I haven’t gone that far. It’s mainly online privacy I care most about, and financial privacy. I mean… I use lemmy, mastodon, proton, degoogled my devices, run linux, DNS level ad/tracker/malware blockers, use Monero, Signal, SimpleX, have no fb, x, insta, tiktok, etc.
As for the whole fake money thing, anything can be money. It’s just what people choose to call money. And since I can use it to buy groceries, and pay my phone bill, and pay my insurance, and buy products I want, it is money. You know the money most used to purchase drugs is the US dollar?
Lol, yes I do know that. I’ve spent quite a few US dollars on drugs myself.
I really was just joking. I’m not judgemental about privacy, drugs, or most things really. I also realize that ALL money is fake money that only has value because we have agreed that it does. If the topic had been short term rentals instead of crypto, I’d have made an “illegal hotel chain” joke instead.
Also, If I offended you I’m sorry. I hope you have a good night (or day if you live far away from me).
Sorry, I might have come off a bit harsher at the end of that last message than I meant to. I get it so often here because so many people want to just bash crypto without ever thinking about any good sides about it.
There’s an easy solution for that… cash.
Can I send an envelope full of cash to Amazon to buy a product? Cash is great for the physical medium if you are in person face to face and can exchange a physical commodity but when you need to exchange value over the internet then cash isn’t a real option
Is that how you buy groceries? Because not me.
I buy groceries with Instacart and have them delivered. It saves me money since I’m not walking through the store and seeing all those items I can just get what I need and so I’ve done it that way for years
Yet another fake currency for drug dealers.
Well yeah you don’t wanna make illegal online transactions with a fake currency the government owns.
Plus that ones got an encrypted ledger so its got a real use case there.
That being said if you got a problem with drug dealers, where the fuck do you get your drugs?
Riiiiiight… no drug dealer in their right mind would ever use USD cash…
Monero is cash. You cannot see who sent Monero to who or how much they sent. It’s completely private. The government has a half a million dollar bounty out for anybody who can break it and it’s been out for years because nobody has been able to do so.
Everybody sell. You know how you can’t really tell when a stock is going to tank? Well, this time it’s like we’re doing economics with training wheels. You won’t get hurt, and you can see what’s coming. You just gotta sell now before the floor drops out.
Phew, can finally cross this off my short list of things he hasn’t been completely hypocritical about.
So…which government got his claws in him this time? Taking all bets.
He must have had some girl pee on him in El Salvador.
Once again Trump proves himself to be a mere opportunist and grifter without principles or convictions. While in office Steven Mnuchin tried to kill crypto at the behest of the banking industry and Trump was vocal against Bitcoin. Once he left the White House he peddled his own NFTs.
We all know politicians have no morals. The reason he changed his stance is very simply because the crypto industry very well could get him elected. Crypto is a growing concern for a lot of people and he has to see that.
Crypto is a growing concern for a lot of people
What do you mean?
More and more people have used it or would use it or are interested in using it.
But they’re almost all using it STUPIDLY, aren’t they?
How many people who purport to have Bitcoin actually hold their own private key?
Now you make a very fair point there. If you hold Bitcoin on an exchange or an ETF or somebody else holds it for you, you don’t own Bitcoin. That’s for sure. In those cases, you hold an IOU for Bitcoin. And that’s worth just about as much as it sounds. In other words, shit.
How many people hold a key to their bank’s vault or deposit box?
without principles or convictions
He has 34 convictions
Scammers gonna scam.
We do not control USD.
Trump said in a Truth Social post Tuesday. “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”
Didn’t COMMUNIST China ban it mostly because it was putting strain on their grid? Not sure how wasting states worth of electricity to fuel a glorified ponzi scheme is going to help with energy dominance but who am I to question the self-proclaimed genius.
I just… I… what goes through this man’s head? Why is literally every sentence he spews completed bullshit? And why do so many people fall for it?
he’s propped up by like 7 billionaires with media companies and a lot of editing.
The broad masses of a nation […] more readily fall victims to the big lie than the small lie
Yes, some of the biggest crypto providers are de facto chinese. They trade big time, always have. When techno idealists in the west were still discussing Bitcoin as a free currency over a decade ago, china already ran gigantic crypto miner farms and saw it only as a speculative asset. They knew from the very first day it‘s not about using crypto, but making money trading and holding it.
Yeah it’s telling that this grifter is talking about Bitcoin when most other cryptos are massively more efficient. Even within crypto bitcoin is an obsolete technology. This is more for the like coal sector than crypto.
Just tell him the only way to mine it is with windmill power. He’ll change his tune.
They banned exchanges because people were able to move their wealth out of China
“Bitcoin mining may be our last line of defense against a CBDC [Central Bank Digital Currency],” Trump said in a Truth Social post Tuesday. “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”
I love using social media, but I sure miss the politics of the pre-social-media era. The craziness levels were considerably lower.
Wait so the play is to make us push bitcoin BECAUSE its a huge energy hog to float fossil fuels prices UP?
Honestly wtf kind of policy is this?
Like at least white nationalist pull in 2016 was pretty clear cut, but who the hell is that even for? Like what chud libertarian wants to see the government artificial increase energy prices?
I agree with you, but then I just thought of the political eras that gave us Nazis, Stalin and the gulags, Mao and the Cultural Revolution and thought hmm politics could be crazy before, also.
