So is this going to be used to siphon money from the US tax payer to Putin or Trump?
this post was submitted on 03 Mar 2025
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Launder money probably.
Crypto is not actually money. It's a scam, just like president felon.
It's no less real than fiat currency.
What is "actual money"? You mean like paper printed by the state? Maybe with slave masters all over it?
While that might be true, the stock market is largely divorced from reality and the rules only apply to people who don’t have enough significant figures in their bank account. Cryptocurrencies have never claimed or even attempted to guard against market manipulation, whereas stock markets generally guard against market manipulators who aren’t super rich. In that respect, crypto is a more level playing field.
This is just stealing public money isn't it?
They buy the crypto they plan on having the US acquire and then they dump their holdings when the price skyrockets...
We're being forced to be scammed... Absolute fucking scum
My guess is that they created the Trump coin, got idiots to buy it, then they dumped it and transferred the coin to more commonly used coins for free. In which now he has the U.S. sink money into, increasing their initial investment they got from their followers being tricked.
It's buying crypto to gamble... on debt. Don't forget that all this shit needs to not only break even but outpace the increased interest payments to bond holders that will need to be done to fund it.
If done right, it can be done cheap. The police regularly confiscates wannabe money when raiding e.g. darknet shops or drug lords. Just don't put them up for auction, instead collect them as a reserve.
Ready for the pump and dump with all our tax money?
I bet within a year he pumps it right from the bank.
I always figured crypto would outlast imperial petrol-dollars. But I never imagined a president helping it along.
Crypto is a scam through and through. If you don't believe it, ask yourself why Trump is doing it.
Crypto is your only option to opt-out of the current financial system. There is very real innovation to be had between the pump and dumps and scams. No one is telling you to buy memecoins or any coins really -- definitely don't buy anything promoted by 45.
Digital dollars will enable seamless international commerce. Cut out the middlemen in your life.
Tell me anything of value that crypto has brought about...
Crypto has been around for 17 years and all I see is:
- Senseless energy expenditure and damage to the environment mining proof of work coins
- Electricity prices going up for ordinary folks trying to use it to do something useful with it in areas where mining operations use it all
- GPU shortages and price hikes
- People who don't understand crypto losing their shirt on it
- People who do understand crypto sitting on it and waiting for the value to go up thanks to the suckers above, contributing nothing of value to the economy
- People who understand crypto and actively use to scam the suckers above.
I have NEVER heard anything good come out of crypto for the economy as a whole.
Does it have the potential to be a game changer and a force for good? Yeah.
Has it been used as a force of good? No.
Digital dollars are saving millions of people from inflation in local currencies.
This is effectively the only option these folks have to navigate around capital controls of local fiat currency. From Argentina to Turkey many folks are seeing advantages.
Might not be flashy and catch headlines but it works.
Fair enough. I stand corrected. I wasn't aware, I'll look it up. Thanks!
Strange, i thought reserve currencies were stored in stable assets that aren't expected to fluctuate much, like the US dollar... Oh i think i see whats next.
stable assets that aren’t expected to fluctuate much, like the US dollar
Constantly losing value isn't the same as "stable".
I mean, actually yeah that graph does show a pretty stable value. Since 1980 it's gone frome ~$2.50 to $1.00 at a pretty steady rate. For all the financial chaos over that period of time that's a pretty straight line.
While there is inflation, it's been pretty consistently between 2-3% as targeted by the federal reserve, so basically the US dollar is doing what is being communicated, or in other words consistently performing.
I think the Russian ruble is the new hotness
Gonna be the Yuan in a few years...
I like... gold.
Ah yes, im told it's inflated muchly the last few years. That means its a really big deal!
I mean it’s a bigot currency. Everyone is saying it, all the best people
Not gonna save it from cratering you fucking morons. Now other countries have even more influence over it because you're fucking with it.
Cyberpunk dystopias are a warning, not a strategic plan!
Constructing the future crash.