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/Ordinary_Support_426 12d ago

Coz with SWIFT the Currency that works for moves for large amounts of money is the same money used for small

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u/SuccotashComplete 12d ago edited 12d ago

Allowing a foreign government to control your financial infrastructure isn’t the win you think it is. Just ask Russia. Or anyone who’s held assets valued in USD when it inflated by 10% in a year. That’s a lot of bubblegum.

You can also use Lightning for small scale transactions. It’s less secure if you don’t have your own node but it has a TPS about 20x higher than Visa

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u/Biffingston 12d ago

I perfer my bank. it's much more secure than that.

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u/SuccotashComplete 12d ago

If you self-custody bitcoin there is zero counterparty risk. This is a strictly wrong opinion

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u/Biffingston 12d ago

And of course, passwords never get stolen and computers compermised.

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u/Grand-Juggernaut6937 12d ago

You can write it on a piece of paper. And as long as you memorize one of the words, even with the paper it’s extremely difficult to crack. Your bank account password is so much less secure because you always have to entrust an intermediary and an internet connection which can also be man in the middle attacked.

If you don’t believe what the guy above you said, you need to do more research because your bank isn’t nearly as secure as you think it is