The same article also said: "Amid his comments, Bitcoin turned lower initially from $68,400 to $66,635 before pushing back up to $69,000. The price is now trading at $68,140 but it is more or less flat on the week itself." So if the market doesn't care about his comments, then why should I?
Trump? Do you mean Donald J. Trump? The guy who was on the verge of personal insolvency following multiple business bankruptcies when Mark Burnett saved him by miscasting him as a successful business tycoon? You mean that Donald J. Trump? https://www.shortform.com/blog/trumps-bankruptcy/ https://fortune.com/2016/09/08/donald-trump-the-apprentice-burnett/
Trump did not change his mind about Crypto because he understands it like Barron or Jonny Arb. If dark money offered him $5 billion to ban crypto, done deal! He’s proven cash and fame are his gods.
he’s doing it because he sees a group of cult like suggestible people and he can be “their leader.” I sell 5 billion and bid 1.
I already do that instantaneously here in Norway for free using a mobile app called Vipps (works across all banks and now works across all Scandinavian countries, too). Also, if I want to send or receive money from my broker in the US it's usually processed the same day. For me personally, I don't see the utility.
Sure, why would you wire gold to your broker, or pay a coca cola with it? Same for BTC: If needed, it can. But otherwise, main task is to be an asset haven/silo. It's about what he ment, far less what mistakes he made saying it. He is definitely no crypto enthusiast, but with 70+ years that's not surprising. ___ Some leftists are so full of hate or anger... Lmao Sometimes I wonder how it comes they are trading.
I love seeing all the negative views here, because it shows how early we still are. The first thing people need to realize is that a small percentage of the population has access to credit cards and bank accounts and a relatively stable currency, so the allure of bitcoin isn't as apparent at first glance. Sending money is easy, depending on who you are sending it too, but even the modern system has limits when you're crossing borders. But forget about all the utility aspects and lets get to the juicy stuff. What everyone here is overlooking is what fiat has done to the world. We are literally sitting on a debt bomb that is about to explode and most don't have any idea of how devastating this will be. Never mind that most people can't afford a house, or that large parts of the population is what they call food insecure. In my country, even the food banks are saying they are struggling. So the collapse is pretty much right in front of your eyes, but nobody can still connect the dots about why everything sucks today. Most of us are here at ET because working for a living sucks, and we want those supposedly easy profits. Regular work no longer provides a good life like it did 50 years ago, and everything is now fictionalized. Real Estate agents can make more than doctors (or at least in the very recent past), and most people here think its normal. Wake up people! These are all symptoms of a collapsing monetary system. I guess its not common knowledge that banks run the world, and the entire monetary system is under their control, and we are all paying for it. We are taxed to death, paying for shit we don't vote for, and whatever we have left after paying taxes is inflated away. And nobody here sees that as a problem? Do we have to turn into North Korea first before people start to question what is going on? The crisis in 2008 could have easily brought down the financial system, but instead, the biggest printing scheme was turned on. Version 2.0 was carried out over Covid, and its pretty obvious that the results of that haven't been nearly as positive given where we are today. Do you people really expect that they will fix this next crisis that is on our doorstep? The economy is being held together because of $2T of government over-spending. They only collect about $4.5T in taxes per year, and yet they need $2T in deficit spending. On top of that, interest expense is about to be the single biggest expense very soon. So everyone here can keep their head in the sand if they want, but just presenting these facts, you should all begin to wake up to the problems we are in right now. If government control and money printing got us into this mess, do you really think the government will get us out of this mess? I don't think Trump is doing what he is doing for all the right reasons, but it is quite possible that someone explained to him how a bitcoin strategy is something that needs to be taken very seriously because the US can very quickly loose their dominance if it fucks this up. If the entire world moves to bitcoin and the US is left out, it would be like sticking to the steam engine powered by wood or coal because you don't believe in oil. The entire internet runs on TCP/IP. Every packet of information sent around the world conforms to this standard. Do you really think that this new digital world isn't going to adopt some universal standard for financial transactions that everyone agrees on? LF talked about how easy it is for him to send money, but that is assuming who you are sending it to has a bank account and that the authorities even allow this transaction to happen. Bitcoin and other scaling solutions are already miles ahead that don't require any permission and work without any central authority. You can even send bitcoin over Nostr, no bank needed, just a wallet you can download to your phone. There is no scenario where a permissonless system with global adoption is going to win out over something that banks control. I think the politicians are starting to figure this out, and they conclude that its better to embrace it and adopt it and intergrate it, rather than to be left behind. Many of us have missed the last 100x, lets not miss the next 100x because that is where Bitcoin is going.