Trump tweets about Bitcoin

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  • “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!”

    Anyone else expecting Bitcoin value to increase soon?

  • I mean; how soon is soon? I think there will definitely be an uptick in activity, which will drive the price up.

    But medium-long term, I’m not sure. I would probably be unsure until; the Federal reserve releases their annual report.

    If you have $1000 you don’t mind risking, then I would say go for it. If you are looking for things to bet your retirement on, I would look for safer investments.

    The thing with bitcoin is that it had very high (and volatile) risk and reward. Your $1000 could become $1300 in less than a month (~1500% ARP)! Your $1000 could also become $500 in that month (~-600% APR).

  • I think long term bullishness is good for bitcoin–it has intrinsic value (it’s liquid, there will always be people who need to operate below the board, people earning money in unstable economies with unstable currencies etc etc. This is compounded by the fact that cash is used less and less in highly developed first world economies). The genie won’t get put back in the bottle and bitcoin, for better or worse, is the name people think of when it comes to crypto. Kind of like Gold and precious metals.

    Don’t think it’s a great idea to speculate based on tweets, even from the president, other than “this is a good time to buy because of a dip” Even if it trends down over the next few months, partly because of this tweet, it’ll come back again in the near future, and will go up and up long term.

  • [quote=“nlite2k” pid=‘60558’ dateline=‘1562952556’]
    I think long term bullishness is good for bitcoin–it has intrinsic value (it’s liquid, there will always be people who need to operate below the board, people earning money in unstable economies with unstable currencies etc etc. This is compounded by the fact that cash is used less and less in highly developed first world economies). The genie won’t get put back in the bottle and bitcoin, for better or worse, is the name people think of when it comes to crypto. Kind of like Gold and precious metals.

    Don’t think it’s a great idea to speculate based on tweets, even from the president, other than “this is a good time to buy because of a dip” Even if it trends down over the next few months, partly because of this tweet, it’ll come back again in the near future, and will go up and up long term.
    [/quote]

    Never ever underestimate the power of one simple tweet/media post or news article when it’s referencing bitcoin. Lmao

  • [quote=“Masterofron” pid=‘60648’ dateline=‘1562988197’]
    [quote=“nlite2k” pid=‘60558’ dateline=‘1562952556’]
    I think long term bullishness is good for bitcoin–it has intrinsic value (it’s liquid, there will always be people who need to operate below the board, people earning money in unstable economies with unstable currencies etc etc. This is compounded by the fact that cash is used less and less in highly developed first world economies). The genie won’t get put back in the bottle and bitcoin, for better or worse, is the name people think of when it comes to crypto. Kind of like Gold and precious metals.

    Don’t think it’s a great idea to speculate based on tweets, even from the president, other than “this is a good time to buy because of a dip” Even if it trends down over the next few months, partly because of this tweet, it’ll come back again in the near future, and will go up and up long term.
    [/quote]

    Never ever underestimate the power of one simple tweet/media post or news article when it’s referencing bitcoin. Lmao
    [/quote]

    I know he tweets some silly shit but he’s still a world leader. Remember Chinas ban in 2017 resulted in a decline. Hopefully he’s just trying to promote the US dollar.

  • I don’t see this having any impact.

    I’d prefer BTC to completely disappear. It’s hardly crypto at all.

    Give me a method of secure escrow, I send gold, seller send goods and when everything checks out both buyer and seller are sent what they wanted.

    The current system is open to endless numbers of scams.

    Of course you could just go the libertarian route an legalize drugs and manufacture them to a very high standard to sell at a reasonable price to anyone over the age of 20.

  • [quote=“huckleberry” pid=‘60863’ dateline=‘1563169501’]
    I don’t see this having any impact.

    I’d prefer BTC to completely disappear. It’s hardly crypto at all.

    Give me a method of secure escrow, I send gold, seller send goods and when everything checks out both buyer and seller are sent what they wanted.

    The current system is open to endless numbers of scams.

    Of course you could just go the libertarian route an legalize drugs and manufacture them to a very high standard to sell at a reasonable price to anyone over the age of 20.
    [/quote]

    You aren’t advocating for a specific crypto; you are advocating for a specific market.

    Crypto is like cash. You wouldn’t get mad at the $5 bill in your wallet because it didn’t float before you received your goods would you? You would want a bank that held the money in escrow until the transaction was complete.

    Sounds like you are one of those libertarians in name though, without understanding what it means. Or a neo-Libertarian, who uses Libertairian ideals and adapts them to our current soceity. Either way; the main problem with libertairianism is it isn’t very realistic. There is no process to legalize all drugs without specific regulation, which is anti-libetarian at it’s base; though, it might fit some neo-Libertarian beliefs.

  • [quote=“DNPstoney” pid=‘60873’ dateline=‘1563173643’]
    [quote=“huckleberry” pid=‘60863’ dateline=‘1563169501’]
    I don’t see this having any impact.

    I’d prefer BTC to completely disappear. It’s hardly crypto at all.

    Give me a method of secure escrow, I send gold, seller send goods and when everything checks out both buyer and seller are sent what they wanted.

    The current system is open to endless numbers of scams.

    Of course you could just go the libertarian route an legalize drugs and manufacture them to a very high standard to sell at a reasonable price to anyone over the age of 20.
    [/quote]

    You aren’t advocating for a specific crypto; you are advocating for a specific market.

    Crypto is like cash. You wouldn’t get mad at the $5 bill in your wallet because it didn’t float before you received your goods would you? You would want a bank that held the money in escrow until the transaction was complete.

    Sounds like you are one of those libertarians in name though, without understanding what it means. Or a neo-Libertarian, who uses Libertairian ideals and adapts them to our current soceity. Either way; the main problem with libertairianism is it isn’t very realistic. There is no process to legalize all drugs without specific regulation, which is anti-libetarian at it’s base; though, it might fit some neo-Libertarian beliefs.
    [/quote]

    Honestly I’m more of an anarchist then a libertarian. The removal of anything coercive, no hierarchical top down government. Police with no power. Self managed communities, with little or no real power given to any one individual. In other words no gods, masters or slaves.

    However I realize the bulk of society is scared without the state telling them what to do and how to think.

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