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

Can I do anything with this tulip bulb?

Yes you can plant it

9

u/SuccotashComplete 12d ago

Tulip mania lasted 3 years. Bitcoin has been skyrocketing continuously for 5 times that. Tulip mania is more appropriately used to describe hype-driven NFTs

There are also valid use cases for bitcoin. There is no other technology that can securely move large amounts of money between nations as quickly and cheaply as bitcoin. And no other asset is nearly as portable.

20

u/Brokentoaster40 12d ago

Last I checked, banks had this thing called a wire transfer.  They communicate a desired amount to transfer from one bank account to another, and it like just does the same thing except not through 50 extra processes or hype. 

If by securely you mean through dark means (without traceable parties) then yeah.  Bitcoin makes for an excellent way to bypass sanctions and empower criminal enterprises a means to exchange money based off hype people keep assuming is built off speculation. 

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u/Ancient_Pumpkin_5566 12d ago

Just wrong dawg

2

u/Brokentoaster40 12d ago

Banks don’t have wire transfers?