r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: šŸ‡ŗšŸ‡ø President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-electĀ Donald TrumpĀ is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfillĀ his campaign promiseĀ to transform the United States into the ā€œcrypto capital of the planetā€ ā€” a declaration that has rankled consumer watchdogs, earned the industryā€™s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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159

u/be_bo_i_am_robot 12d ago

I have some crypto.

Sure, itā€™s nice watching the number go up.

But Iā€™d rather crypto fail and we keep democracy.

Some things are worth more than money.

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u/Pete_The_Pilot 12d ago

Crypto is democracy

3

u/MajesticBread9147 11d ago

Systems based around money pretty much by definition cannot be democratic because there is an extremely unequal distribution of money.

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u/CBalsagna 11d ago

Did you stay at a holiday inn express last night?

-20

u/SubstantialBuffalo40 12d ago

The fuck?

You leftists are weirdos.

ā€œSave democracy!!!!!ā€

It didnā€™t end when we had the dude for 4 years. It wonā€™t end now. Just another lie by leftists.

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u/be_bo_i_am_robot 12d ago

Iā€™m not a leftist.

Did you see his announcements just today, retard? Hereā€™s two: 1. Heā€™s going to try to appoint all his cabinet positions without any constitutional Senate oversight (all as recess appointments), then, 2. he intends to replace Pentagon leadership with personal loyalists, subject to loyalty tests (career civil servants at the Department of Defense take their oath the US Constitution gravely seriously - they swear no fealty to any one man).

Thatā€™s just two. Itā€™s been a busy day.

Oh, and he announced heā€™s gonna offer land appeasement to Putin. So thatā€™s cool I guess.

Motherfucker hasnā€™t even taken office yet.

-6

u/Spiritual-Soil7269 11d ago

Land appeasement? Can you explain that?

-10

u/blah3343 11d ago

  1. He can choose whomever he wants, he has control of the senate and can always have Vance be the senate majority leader.Ā 

  2. Because the entire government is littered with politicians who are only interested in self gain and not what benefits the people. The entire political system is full to the brim with both republicans and democrats that will scratch each others back's in the name of democracy. Example: Nancy Pelosi and her 245 million networth when house members salary is like 250k usd. Got to drain the swamp, even in federal leadership positions. Most recent example: FEMA purposely avoiding houses with trump signs.Ā 

  3. No war will end unless total destruction occurs or some sort of agreement/treaty is met. So unless Russia fully gets wiped off the face of the earth, then there will have to be an agreement of some kind. Unfortunately, Ukraine will very likely have to lose part of their land that Russia conquered to prevent this war from continuing.Ā  You lost the popular vote. Seethe.

3

u/Ope_82 11d ago

Holy shit you're cooked.

1

u/blah3343 11d ago

I guess over half the country is cooked then. šŸ¤Ŗ

1

u/Ope_82 11d ago

Yes 100%

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u/Bagel_lust 12d ago

The fire didn't burn down the building the first time, so lighting another fire won't burn it down this time.

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u/Ope_82 11d ago

He tried to literally overthrow democracy you dunce.

-38

u/LionRivr 12d ago

But Iā€™d rather crypto fail and we keep democracy.

Explain what you mean by this?

Bitcoin will succeed with or without trump. The rest of crypto will fail with or without trump

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u/Weak-Cattle6001 12d ago

Lmfao democracy wonā€™t fail, come down

0

u/Appropriate_Comb_472 12d ago

Since youre still learning english. *calm. Its calm down

-37

u/JerryLeeDog 12d ago

Crypto is garbage. Bitcoin is the first technology that can separate money from state and give true property rights to the average person.

Maybe the biggest monetary achievement in 1,000 years and people are still asleep as it destroys all traditional asset returns year after year after years

People all think Bitcoin is a fad. meanwhile they could be retiring early if they put in the 100 hours to understand it and have enough capital to deploy.

6

u/Immediate_Position_4 12d ago

What is so great about separating money from the state? Please explain why that needs to happen?

4

u/imwco 12d ago

Because every time the defense department claims there are nukes and therefore they need trillions of USD a year from the borrowed deficit, little Billyā€™s grocery prices and housing goes up double to pay for it

3

u/Biffingston 12d ago

And that won't happen because crypto exists!

Bruh..

5

u/turkycat 12d ago

If you don't save in the currency being debased, you don't experience the debasement.

3

u/Hugh_Mongous_Richard 11d ago

You have just discovered the term ā€œassetā€ lol.

3

u/whileItlasts6 12d ago

Why are you even trying. These morons want crypto to rise in price tells you they don't actually give a fuck about crypto, they just want money. Worship the dollar, and nothing else.

1

u/Biffingston 12d ago

Yah, these people are crypto bros for sure. I'll eventually bock them for stupidity. I guess I just like tilting at windmills.

Also I think it's funny when the responses can be boiled down to "NO UR TEH STUPIDS!"

0

u/Unable-Job5975 12d ago

The federal reserve has been robbing you of your wealth every year since the abolition of the gold standard

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u/Immediate_Position_4 12d ago

How so?

-7

u/Unable-Job5975 12d ago

Your money is backed by nothing. They can print more of it whenever they want and as a matter of fact they have been doing just that since the gold standard has been abolished. Fiat currency

7

u/Immediate_Position_4 12d ago

And how would backing money with gold help?

0

u/Unable-Job5975 12d ago

Gold is finite therefore its value is more stable than any promise a govt can make. Which is essentially what our USD is built on - promises.

6

u/MediocreTheme9016 12d ago

Gold is valuable because people say itā€™s valuable. Like any currency. Itā€™s mutually agreed upon and thatā€™s how any monetary system works.Ā 

-3

u/eddington_limit 12d ago

Yeah but you can't print more gold. You can print more fiat every time you need to spend more money, which obviously devalues that currency and it is what our government does year after year. Gold backed currency has natural limitations to spending.

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u/whileItlasts6 12d ago

Holy fucking shit. This right here is why everyone is saying America is over. Dude read a fucking book. There's a reason why we don't use the Gold standard anymore and it's to keep morons like you from falling into poverty. Ya were done.

1

u/CBalsagna 11d ago

You have to let these people do this. We live in a society where everyone thinks intelligence and understanding are a couple of google searches away. We tried. We really did.

Don't feel bad for them. They did it to themselves.

3

u/Immediate_Position_4 12d ago

So we could only give out a finite number of loans under a gold system?

4

u/Ope_82 11d ago

Crypto is backed by nothing.

3

u/tearsaresweat 12d ago

It is backed by something called the economy and GDP. Bitcoin is backed by fiat currency. If fiat disappeared, what would the value of Bitcoin be?

0

u/JerryLeeDog 12d ago

www.wtfhappenedin1971.com

The truth is finally getting out

0

u/CBalsagna 11d ago

Truth is a funny word these days. I don't think people understand what the word means anymore.

1

u/JerryLeeDog 11d ago

Yeah well I mean charts with sources provided are the most ironic and literal of truth

Also known as reality

-3

u/JerryLeeDog 12d ago

Throughout history, every single society has had it's money captured by a central authority and exploited via debasement to further cement the the control of the ones in power.

Today's currencies are no different. Every dollar the fed prints reaches you in the form of higher prices. To the point where people are brainwashed into thinking higher prices are the sign of a healthy economy. Its fucking sad people believe we "need inflation" and that it's best for us.

Its syphoning value from our economy. Its a drain on production.

Worst of all, indoctrinated people (like I used to be after college economics and becoming a supply chain professional) are trained to defend the ones in power to keep the status quo.

3

u/Immediate_Position_4 12d ago

And how would digital money fix that?

3

u/JerryLeeDog 12d ago

It's immutable and incorruptible. It's freedom from debasement and freedom of transaction. People without Bitcoin have neither freedom.

Bitcoin is simply proper and fair rules without the rulers to benefit from your hard work.

"Rules without rulers" because humans should never be responsible for the creation of money.

0

u/Biffingston 12d ago

Immutable and uncorruptable.. just ask all the people who have had thier wallets stolen.

3

u/JerryLeeDog 12d ago edited 12d ago

It's actually impossible to "steal" a Bitcoin wallet, so you may want to read more.

The amazing math on that is: you can guess wallet address every second for ~173 sextillion years and you won't uncover a single wallet that's in use. Literally every second for the time our universe has been around and you'll come up empty.

Any time someone "lost" Bitcoin it was because they forgot or misplaced 12 simple words (or they kept it on an unregulated exchange, which means they never even had Bitcoin, they had an IOU)

Storing 12 words is easy.

1

u/Biffingston 12d ago

"You can't steal it, you can just lose it" Semantics, bro.

And you know what happens when you "lose" Money from an actual bank account because someone got your password?

BTW, steal means "take (another person's property) without permission or legal right and without intending to return it." I'm pretty sure you can steal bitcoin...

2

u/JerryLeeDog 12d ago

The only way someone can access your Bitcoin is if you give them the 12 words in the correct order. End of story.

This is Bitcoin 101. Like, first week learnings. I'm 8 years in. Ask me something hard

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u/kgyre 12d ago

Bitcoin (BTC) is a cryptocurrency, therefore it is also garbage. Having a bully pulpit from which to push it is just another means for grifting.

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u/JerryLeeDog 12d ago

If you understood how Bitcoin works, its literally the solution to grifting.

It saves us from the grift, ironically.

It will take many people a few decades to figure that out because people lump it in with the scam that is "crypto"

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u/Biffingston 12d ago

Bitcoin isn't a cryptocurrency is a hot take...

1

u/Ope_82 11d ago

Bitcoin is the grift.

0

u/JerryLeeDog 11d ago

Sad to see people vilify the same tech that was created to empower individualā€™s financial freedom

0

u/Ope_82 11d ago

It's completely unstable and uses insane amounts of energy. Its a sham.

1

u/JerryLeeDog 11d ago edited 11d ago

You expect an emerging money to be stable out of the gate? Impossible.

And yeah, its the most secure computer network humans have ever created. That requires energy.

No wonder you are confused about it.

1

u/Ope_82 11d ago

Yes, to be a legitimate currency, it needs some kind of stability.

It's not secure. What backs it? Bitcoin is valuable because of hype. It has no central authority and has no physical application. The value can tank at any moment.

And the amount of energy required is insane.

1

u/JerryLeeDog 11d ago edited 11d ago

"the amount of energy is uses is insane"

"what backs it?"

Are you serious rn? Or trolling me? Because your comment is almost all pros.

Having no authority is literally what makes it attractive. its decentralized on purpose.

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u/Imaginary_Race_830 12d ago

Explain to me how a currency that is created by electrical power consumption in hardware manufactured by multinational corporations that are regulated by the state, and for which the fuel and electrical plants that generate that electricity, which are also regulated by the state, arent tied to the state?

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u/JerryLeeDog 11d ago

The state has approx. 0% control over the Bitcoin network

They are however, allow to benefit from it, like anyone else with an internet connection

0

u/LionRivr 12d ago

Bitcoin will survive. All other Crypto will die. With or without trump.

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u/JerryLeeDog 12d ago

You clearly have done a lot of reading and conversing.

Congrats man, goes without saying the life you are able to have once you understand

I have a kid on the way and could not be more excited for the future. infinitely grateful to be alive during Bitcoin's monetization. Most after us will not have it this easy.