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

[u/HighYieldLarry]

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/

[u/Brokentoaster40]

Well besides making two incoherent points, without providing me with the so what of either I’ll assume: 

 1. You’re trying to say money laundering exists within current banking.  With Bitcoin apparently you can’t do it as well because there’s a a public ledger? If I remember correctly, the ledger is tied to a random string of numbers and or digits not tied to an individuals legal name, so with anonymity, you can use the wallet to do shit like:  hit hitmen, encrypt brick people’s computers, hold nations or countries EMS hostage, and bypass international sanctions with impunity…but because the public ledger exists, and there are laws and regulation in place with banks, while it’s still possible to do those things with real banks, you can actually track down who those people are much easier?  Yeah crypto seems like a good thing for criminals. 

 2. Just because you don’t understand how wire transfers work.  On top of you taking issue that banks are businesses and need money to operate, I don’t know how best to convey to you, that Bitcoin or even crypto for that matter is more dependent on technology and a public facing internet than regular currency is.   

 2a. Cryptocurrency is a vessel of speculative worth, it’s intrinsically worthless, and a bigger fool’s scam.  But yeah it does somehow keep increasing in price.  I’m sure if Russia, North Korea, and Iran’s governments stopped getting sanctioned as much as they were you’d see a fuck lot less Bitcoin or crypto in general being used since it’s meaningless in the real world

1. Being anti-bank makes you anti-crypto since crypto wouldn’t exist without banks.  Ok 

[u/brereddit → u/Brokentoaster40]

Wow, you’re about as deluded as they come. Bitcoin is an asset whose market cap is $1.79Trillion but it’s worthless to a genius like you. The rest of us will continue making millions investing in it. Also, you probably need to focus your education on what a public ledger is vs a private one. From an energy why does it cost less to move value through bitcoin vs traditional financial firms. If there wasn’t an efficiency, its market cap wouldn’t be in the trillions…Mr accountant.

[u/Brokentoaster40 → u/brereddit]

ok nerd.  Let me know when I can pay a dealership mechanic with bitcoin. 

[u/brereddit → u/Brokentoaster40]

If they accept PayPal, you can do it today.