goosecat wrote Today at 5:05pm:
Mattyfisk wrote on Sep 22
nd, 2024 at 11:33pm:
goosecat wrote on Sep 22
nd, 2024 at 10:54pm:
Mattyfisk wrote on Sep 22
nd, 2024 at 10:44pm:
Sprintcyclist wrote on Sep 21
st, 2024 at 10:40pm:
Actually, it's an example of the big fella trying to hedge his bets. He's trying to shmooze the crypto bros and the Feds in the same reply.
And he does answer the question - he's
not into crypto. It's hard to see why crypto enthusiasts are so pro-Trump. Some are huge Trump donors.
Then again, if they're enthusiastic about Ponzi currencies developed out of video game tokens, they'll settle for anything. In it's essence, crypto is the epitome of everything Trump stands for - personal branding and pyramid credit schemes, with the inevitable loss passed on to the suckers.
Crypto is the currency of Russian money launderers, internet fraudsters and human traffickers. It's perfectly Trump.
They deserve each other. When Trump goes down, a number of crypto currencies will dip, if not tank entirely.
You're so wrong about Crypto it's funny.
The WEF itself has been presenting Crypto's future to the world at it's own summits almost since inception, to the point where many believe it's actually it's secret baby. Yes it's cowboy country still but it will change and mature over time.
The USA banker money has now realised the fear around future threat to US dollar can be mitigated and everything is still valued according to it's US dollar relevance.
It is no more fake than printing US dollars out of thin air as currently occurs and that has been the bedrock of modern day economic value.
Crypto is now embedding into traditional markets with hundreds of billions of dollars invested and entire countries working with it and it's technology regarding there own Digital currency versions.
I'm not saying jump on board and start day trading, there will still be massive swings to come for decades and massive transfers of wealth to those on the inside and those prepared to abuse the uneducated entry levels, but it's here to stay IMHO.
The only way crypto is even able to be properly traded is having dollar equivalent currencies like Tether in order to do so. If you're saying there will still be massive swings to come for decades and massive transfers of wealth to those on the inside and those prepared to abuse the uneducated entry levels - why would you support it?
That's
worse than the banking system. Why would anybody go for it?
Unless you're a currency speculator, money launderer or bit coin miner, what's in it for you?
I'm neither for or against Crypto particularly. Abuse of markets occurs everywhere in myriads of guises. I'm merely stating the reality of it's existence and likely continued existence IMHO.
I actually personally hate the massive losses so many "average" people have suffered in the "Wild West" paradigm Crypto has existed in. However none of that changes the reality around it's technology, growth and gradual integration into traditional markets.
There's plenty of economic "experts" who've said and continue saying I'm wrong and that it will disappear. However when you delve deeper, it's more of a "gut feel" with people like Kohler comparing it to "Tulips" lol and having no real understanding at all. Most don't even know the WEF has been supporting and promulgating it's potential since inception.
It's just not going away is my opinion. The fact it's been growing continually now for over 15 years (not a Tulip 3 year run) and has hundreds of billions of "real/traditional" dollars through Investment Funds and even world governments betting on it's continued future, indicates to me I'm probably right.
Of course you're right it'll stay. Chinese gamblers and Russian criminals need to park their money.
But if you actually hate something, you're under no obligation to defend it.
I'm not sure if you're influenced by some kind of crypto libertarian zeal, but it's good to see you haven't swallowed the kool-aid completely.
I get 5% on my money in the four big banks. My savings are government guaranteed. I can withdraw through ATMs all over the world, with minimal fees. I can check out my savings and spending on easy to use apps, and I can tap my card to pay.
You can't get the same from crypto. Why?
Because it's not regulated. The Deep State is actually very useful. Globalisation, governments, reserve banks, the financial institutions and their shareholders serve a utilitarian function, delivering the greatest good to a far greater number than crypto does.
Most crypto schemes place good in the top tier, passing losses onto the saps on the bottom.
The RBA has clear objectives, does it's research and makes plans to meet legislated targets. The crypto market doesn't work this way. It provides one social good only: to give people a place to hide money from the government.
But is that really good?
That's a question.
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