Crypto fanatics flock to Trump, hoping to ‘make bitcoin great again’
Crypto fanatics flock to Trump, hoping to ‘make bitcoin great again’
The crypto community is rallying behind Trump for the 2024 election, hoping to avoid regulation.
WaPo gift article - no paywall
Makes sense, considering cryptobros seem to want "get rich easy" and the orange dumpster fire certainly panders to that demographic.
64I feel sad for a lot of people in crypto. There's a certain sense or feeling of disenfranchisement among the American people, which is how people like Trump gain favor in society. Trump promises you everything and lies about all he takes away. He's seen after all as some "alternative to the establishment", an establishment that has exploited and fucked over the people over and over again. In a sense, this disenfanchisement, economic disenfranchisement affects people into crypto. Never underestimate the power that poverty and economic hardship has in making desperate people delusional.
7Trump is a rich old white racist man with no talent who made money off daddy's fortune.
He's the embodiment of the establishment. This makes sense since that's what they want to go back to.
They forget that's what led them here.
2You feel sad for people who realise it is way better to be in control of their own wealth and not hold their value in something that other people can just print on a whim? You feel bad for people who don't want the only way to hold onto value (that doesn't inflate away) to be buying businesses or expensive real estate which the average person can't dream of affording? What a peculiar reason to feel sad for a group of people.
I feel bad for people who know nothing about a topic and trick themselves into thinking they are such an expert that they are forced to pity people who have turned an idea into the 9th largest asset in the history of the world without any centralized governance.
-25
And crypto bros spent the last decade hoarding bitcoin as a means to decentralize the currency, only to shill for next coming of Nazi dictatorship
Cognitive dissonance is strong among cryptofascists
31That's not what cryptofascist meannnnnnsssss
On the other hand, the old kind stopped hiding and just became regular fascists.
11
Confirming that Bitcoin is a scam.
24Dunning Kruger effect is big in this one.
-2where and how?
1
much of crypto is a scam...bitcoin is not. blackrock and fidelity are just two companies who are heavily invested in its success. the media shouldn't portray bitcoin along with other crypto, but it does. it's too bad.
-4Sorry, Bitcoin is a scam. Blockchain technology is not a scam, but 99% are simply because they have little to no utility; their value is entirely speculative. Bitcoin is not anonymous, transactions take forever, are more expensive than banks (for transferring normal sums of money), and the energy required to secure the network is a non-starter. It's like calling a Model-T the best car ever made. Monero is the best cryptocurrency implementation so far, because it is the opposite of all of Bitcoin's failures I just listed — that's why governments around the world are trying to delist and outlaw it, and block institutional investment in it.
10
He can't even pander all that well. When he spoke to them, he ended his speech with this
"Have a good time with your bitcoin and your crypto and everything else that you're playing with"
21If you ever needed more proof that all crypto is a scam...Trump is pushing it, so...scam.
14- 9
...But bitcoin is doing just fine as it is...? It's up overall, year over year. The only thing that's not great about it right now is that exchanges (like Coinbase and Circle) have to report how much you have and move around, for tax purposes.
I've got a relatively small amount of bitcoin that I'm holding on to; it's been holding value, relative to the US dollar. So what are they saying *isn't" great...?
8Bitcoin gets thrown in with the other cryptos. people who don't know what they're talking about also do this thanks to the media. Bitcoin is most definitely not a scam.
0Needs more ellipses and statements ending with a question mark.
-1...it does?
1
Cryptocurrency scams, Trump scams... They belong together.
7Can’t wait for them to lose all their money
4You're right. I was overwhelmed by your staggering ignorance. Lol.
2This is all Dems signing this. It's not only Republicans who are finally realizing the value of sound money. At this point, if you are anti-crypto, you need to somehow be against the only two political parties, who would have guessed. Not to mention RFK saying if he were in the White House, then the US would be trying to amass 20% of the Bitcoin supply.
-7Maybe just take a step back and breathe bro.
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Instead of a PDF, maybe link to an official source to the totally real PDF you sent?
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Think more critically about the propaganda you're parroting.
Bitcoin is not decentralized or private; these are just buzzwords. BTC belongs to either the whales hoarding BTC (like the financial firms you mentioned in another post) or to the handful of large miners who contribute most of the hashing power. This is the definition of centralization.
If you buy 100$ of BTC right now, or out your computer to mine, you have 0 control of the network (controlled by miners) or the value of your money (which can be manipulated by whales). But sure, "take back control" of your money (and lose FDIC insurance) by storing your money in BTC.
If I have to explain why a Public, Immutable ledger is NOT private or secret... Idk what to tell you. It's in the white paper, that I'm sure you read.
Bitcoin is not a store of value. Because it... Doesn't store value? No one is saving their rent in Bitcoin if there is a non 0% chance that by the end of the month you won't actually have enough money because the SPECULATIVE value of BTC went down. This is, again, just a buzzword.
Finally. If "The loser with a brain worm that is out of the presidential race said he'd try to amass 20% of the world's Bitcoin if he won, trust me bro ." is the best argument you can make for Bitcoin... Yeah, that checks out.
TL&DR: You're thinking of Monero and have a lot to learn about how money and politics work, but you're too deep in the BTC shill camp to realize.
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