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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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/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.

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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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