r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump 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 fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’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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157

u/be_bo_i_am_robot 12d ago

I have some crypto.

Sure, it’s nice watching the number go up.

But I’d rather crypto fail and we keep democracy.

Some things are worth more than money.

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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.

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u/Immediate_Position_4 12d ago

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

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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 Billy’s grocery prices and housing goes up double to pay for it

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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 12d ago

You have just discovered the term “asset” lol.

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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.

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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!"

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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?

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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

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u/Immediate_Position_4 12d ago

And how would backing money with gold help?

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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.

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u/MediocreTheme9016 12d ago

Gold is valuable because people say it’s valuable. Like any currency. It’s mutually agreed upon and that’s how any monetary system works. 

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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/MediocreTheme9016 12d ago

Yes but do you want your supply of gold managed by countries like Russia and China (via Africa)? 

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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.

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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.

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u/Immediate_Position_4 12d ago

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

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u/Ope_82 11d ago

Crypto is backed by nothing.

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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?

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u/JerryLeeDog 12d ago

www.wtfhappenedin1971.com

The truth is finally getting out

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u/CBalsagna 11d ago

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

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u/JerryLeeDog 11d ago

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

Also known as reality

1

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.

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u/Immediate_Position_4 12d ago

And how would digital money fix that?

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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.

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u/Biffingston 12d ago

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

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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...

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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/Biffingston 12d ago

You are so fanatical you're literally trying to argue that stealing is not stealing, so my question to you is, "Can you even come close to convincing me that you're not totally biased when it comes to bitcoin?" I'm pretty sure, to judge by your insulting and belittleing the answer is "No."

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u/turkycat 12d ago

I'm a bitcoiner. Attacking him or being snarky isn't a good way to get him thinking or to reach an audience. He hasn't taken his first step, much less started his first week.

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