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Author Topic: Trump Tweets the Word Bitcoin  (Read 167 times)
yeosaga
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July 12, 2019, 02:54:30 AM
 #1

It only took until 2019.  Cheesy

Quote
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

....Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...

...and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

Why do you think this is the stance of the current President?

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bones261
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July 12, 2019, 03:10:15 AM
 #2

Trump just doesn't get it when it comes to Bitcoin. Plus, if it wasn't for banks willing to lend him lots of that fiat that they conjure out of creating debt, he wouldn't have been able to create his real estate empire. You would think after a couple of the bankruptcies, that the banks would be leery of lending to his business . However, when it comes to fiat, easy come, easy go.

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PrimeNumber7
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July 12, 2019, 03:10:59 AM
 #3

He says he doesn't like it.

I think his stance has to do with Facebook's, who is basically his political opponent, proposal to create a kinda-cryptocurrency. His particular pro-dollar stance does not surprise me as he is universally pro-american, even when being so actually harms the US.

After he tweeted the above tweet, I asked AOC if democrats will invest their life savings in bitcoin tomorrow. I haven't heard back yet.
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July 12, 2019, 03:47:13 AM
Merited by eddie13 (1)
 #4

This is obviously to be expected out of someone in power that wants to retain their control on the banking system within their country. It would make little to no sense for him to simply be like --> Yes, lets just replace the Fed with Bitcoin so I can have less control than I do now over printing, interest rates, etc.

It's to be expected, so this REALLY shouldn't shock anyone.




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Smokey23
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July 12, 2019, 05:36:29 AM
 #5

another view?

Most of the cryptocurrencies are bleeding bad tonight do you guys think it's because of the latest tweet made by Trump where he calls bitcoin and crypto bad?
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July 12, 2019, 07:58:28 AM
 #6

Well he dissed Bitcoin but at least he also dissed Libra at the same time. I'm not expecting him to warm up to cryptos, especially BTC any time soon though. I really don't expect heads of state to endorse a competitor to their fiat.

<|°_°|>
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July 12, 2019, 10:27:53 AM
 #7

It only took until 2019.  Cheesy

Quote
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

....Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...

...and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

Why do you think this is the stance of the current President?

Am I the only person here who feels that this tweet is to harm Facebook Libra coin, and it means no harm for bitcoin. Trump could have declared bitcoins illegal and banned their sales in the past, but he didn’t care to do so and now he’s using it to target Facebook coin as he feels it’ll harm his policies. It’ll be interesting to see how Mark reacts to this statement, and do you’ll think Facebook will apply under US Banking Charter to please the President?.

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bones261
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July 12, 2019, 12:50:12 PM
 #8

Am I the only person here who feels that this tweet is to harm Facebook Libra coin, and it means no harm for bitcoin. Trump could have declared bitcoins illegal and banned their sales in the past, but he didn’t care to do so and now he’s using it to target Facebook coin as he feels it’ll harm his policies. It’ll be interesting to see how Mark reacts to this statement, and do you’ll think Facebook will apply under US Banking Charter to please the President?.
    Well, Trump doesn't get around to dissing Libra until the 2nd response tweet. I think if push comes to shove, Mark will apply for a US Banking charter. Also, Trump is trying to imply that Libra coin will be used for criminal activity. With Facebook's record for tracking every single thing it's users do, only an idiot would use Libra for criminal activity. In fact, only an idiot will use Libra for any type of transaction.

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SuperTA
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July 12, 2019, 01:04:13 PM
 #9

“Giving attention” to crypto period, tells me it’s game on.  Wink

https://bitcointalk.org/index.php?topic=5164459.msg51795453#msg51795453
notbatman
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July 12, 2019, 10:18:18 PM
Last edit: July 13, 2019, 12:31:56 AM by notbatman
 #10


Image source: https://www.twitter.com/


Image source: https://wsbuzz.com/world-news/facebook-ceo-mark-zuckerberg-sat-huge-booster-seat-congress-probe/



It's a warning about pre-mined digital currency created by short men with small hats in positions of great social influence. Don't think Emperor Zucchiniberg can't happen, I see every bad movie made about the Roman empire in this man's face.
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July 13, 2019, 05:06:13 PM
 #11

It only took until 2019.  Cheesy

Quote
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

....Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National...

...and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

Why do you think this is the stance of the current President?

Politicians do what their lobby wants to do.
I think that Trump adopted this stance because the lobby of bankers and financial institutions tell him to do so. Maybe it is time that more attention will start to be shown in Bitcoin and cryptocurrencies in general as institutions are moving towards this direction.

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July 21, 2019, 10:30:15 PM
 #12

Am I the only person here who feels that this tweet is to harm Facebook Libra coin, and it means no harm for bitcoin. Trump could have declared bitcoins illegal and banned their sales in the past, but he didn’t care to do so and now he’s using it to target Facebook coin as he feels it’ll harm his policies. It’ll be interesting to see how Mark reacts to this statement, and do you’ll think Facebook will apply under US Banking Charter to please the President?.
    Well, Trump doesn't get around to dissing Libra until the 2nd response tweet. I think if push comes to shove, Mark will apply for a US Banking charter. Also, Trump is trying to imply that Libra coin will be used for criminal activity. With Facebook's record for tracking every single thing it's users do, only an idiot would use Libra for criminal activity. In fact, only an idiot will use Libra for any type of transaction.
I don't think libra's business model makes sense if they were to be subject to the regulations associated with having a banking charter.

The idea behind libra is it can provide bank-like services to those living on dollars per day, and the per customer compliance costs associated with running a bank are simply too high to reasonably be able to serve these customers. A banking charter would also require libra to reverse transactions under certain circumstances, which defeats the point of having a crytocurrency.

Criminals use the banking system for criminal activity all the time today. I would suspect they would use libra for criminal transactions at least at the same rate as they do the traditional banking system.
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July 22, 2019, 08:08:35 AM
 #13

I will not disagree on Trump for this one. He knows where he stands towards the illegal activities that is currently rampant in Bitcoin, Actually what I have understood of his statements is that if you know nothing about it don't get into it else you are wasting both your time and money.

On the other hand, seeing him praising US dollars and the banking institution is not a surprise at all. Knowing Trump which is a pro "American Only","America First" ideology should really praise US dollars. Lastly, he is a business man and he is getting a lot of benefits from the banking institutions for it's loans that made him what he is right now.

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