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“Really happening” means less when it’s only his zombies and Russians that would ever use such a thing.
He is going to kill the USD, just wait and see.
Same misunderstandings as usual:
crypto transactions can be done anonymously
Except for a couple “anonymous coins”, no they can’t.
KYC+Blockchain = full traceability.asset with little proven real-world application that regular old U.S. dollars can’t already account for
Close. Consider the following scenario:
- USD is a US government IOU, same as every other fiat currency.
- Fiat money’s value depends on the trust in the credit it represents.
- Trump&co are destroying USA’s trust worldwide.
- External countries like China, have huge amounts of US credit… have given a lot to the US in exchange for a pinky swear.
- The US keeps emitting USD credit by manipulating interest rates, hoping to attract investors and greed/trust.
But what if the US were to default on its obligations instead, break trade agreements, break defense agreements… what would be a safe store of value then?
- Gold, will say some… but there is not enough gold to go around to represent all the credit currently tied in money, that was the reason to abandon the gold standard in the first place.
- Others will pick the Yuan, after all it’s the second largest economy GDP PPP… but really? Does anyone trust China? I doubt so.
- Euro seems much more trustworthy, but it will take long after Trump has utterly trashed the US economy, for the US to recognize defeat.
That leaves little more than fantasy money, with the stablest of them being: Bitcoin.
I don’t think Bitcoin qualifies as a “safe store of value” when it fluctuates like hell on a day-to-day basis and transferring it anywhere for any reason costs exorbitant amounts of money. Much as you or I don’t trust China, I think the powerhouse of an economy that it has will make it awfully enticing for investment orgs, and I don’t think the U.S. will have to “recognize defeat” for the Euro to replace the dollar, either. If the dollar tanks, it tanks.
There is no “safe” store of value, it always depends on demand; there is no single item with a constant demand. One would think that air, water, food, housing, etc. should be always in demand… but reality is showing how people are willing to sacrifice those for something else all the time.
Bitcoin transfers cost pennies on the Lightning Network. An argument can be made, that SEPA transfers cost exactly 0… also an argument can be made, that SEPA didn’t go all the way down to 0, until cheap crypto transfers became a thing. But SEPA is an Euro thing.
China, I think the powerhouse of an economy that it has will make it awfully enticing for investment orgs
China has a 100% intervened market, there is exactly 0% security that any investment won’t go to 0 in an instant, by decree. There is a reason why Chinese people invested 30% of GDP in the housing market, allowing scammers to build ghost towns they never planned on completing… and then it all went crashing down.
The US sees the Euro as a competitor of the Dollar; for the US to buy a strategic reserve of EUR, it would definitely mean recognizing defeat.
There is no “safe” store of value, it always depends on demand
If you don’t think “safe stores of value” exist, why did you pontificate on what you thought would become one?
Bitcoin transfers cost pennies on the Lightning Network […]
Press X to Doubt. Defending Bitcoin in 2025 is certainly a choice.
There is a reason why Chinese people invested […] in the housing market, allowing scammers to build ghost towns they never planned on completing… and then it all went crashing down.
You realize this happens everywhere, right? Housing is an extremely common investment choice, and ghost towns (or at least, a lot of chronically vacant homes) appear frequently as a result. I am once again left asking why problems like this only seem to get noticed when Chinese people do it.
Regardless, none of this changes what I’ve said; China is a superpower with a gargantuan economy that can’t be ignored. And it isn’t! Were it that the dollar died, China would be an enticing replacement for a lot of investors whether we like it or not. Many of whom would happily stomach the risk of government intervention in exchange.
The US sees the Euro as a competitor of the Dollar; for the US to buy a strategic reserve of EUR, it would definitely mean recognizing defeat.
I didn’t realize we were still talking about the U.S. government’s choice in investment alone! I had figured your initial comment had shifted this to being about the dollar’s power writ large, especially given that the U.S. government’s tactics as of late have been questionable on a good day and therefore not really worth speculating on.
But sure, the federal government is unlikely to give up on the dollar. That won’t stop it from imploding if they keep fucking up, and it wasn’t what I was talking about anyway.
There may not be enough gold to go around, but there’s enough gold for me :)
as if forcing everyones retirement into the practically unregulated stock market wasnt already the worst gamble in american history… lets make our reserve even less stable.
awesome. super genius moves here. congress isnt asleep at the wheel, theyre comatose. they might as well not exist.
Congress has made it explicitly clear that they serve to rubber stamp anything and everything Trump signs as an EO. They work for and serve the executive office only
who needs checks and balances when you support a dictator? the constitution is toilet paper to these people.
You need checks to send money from the government to the oligarchs, and balances to know how much money they earned. So yes, checks and balances are fundamental and necessary.
- The temporarily slim majority in congress has…
Ftfy? I hope?!? Please tell me this isn’t forever.
This wishful thinking Americans have that some magical saviour of democracy is going to appear to save them is ridiculous and sad for the rest of the world looking at this forest fire.
If you’re an American, go fix your fucking country. You have constitutional amendments for this exact scenario.
You have constitutional amendments for this exact scenario.
Bold of you to assume any of that matters right now. Or ever, really. Cops can and have been shooting people stone dead for “looking like they might’ve had a gun.” The second amendment has been a farce for decades at minimum.
Not that I think waiting for Congress to fix things when they’re the ones least threatened by what’s happening is a good idea. Just pointing out that the Constitution stopped mattering a long time ago.
We’ve tried nothing and we’re out of ideas!
As American as apple pie. Beautiful. Thank you.
So you came here to insult everyone and that’s it? I wasn’t even disagreeing with you, but okay! Hope you’re having fun.
I came here to urge Americans to use their constitutional amendments that were put in place to stop a tyrannical government. These amendments are boasted about ad nauseum by Americans online.
Y’all are practically climbing over each other to make excuses why you can’t do anything and that everything’s hopeless so “why bother”. You even interpreted this as a personal insult. Honestly, incredible. Thank you so much for this exchange.
You have constitutional amendments for this exact scenario.
WTF does this actually mean? You do realize that constitutional amendments require a 2/3rds majority, right?
And what the hell amendment are you suggesting?
If you as an American need the first few amendments spelled out for you then I don’t really know what to tell you. No idea why you’re on about 2/3 majority. It’s not even relevant to my comment.
We do, but we don’t have two-thirds of both houses of Congress ready to fix this mess, let alone 38 statehouses to ratify. The clusterfuck will continue apace.
This is wild. I’m referring to the amendments in your constitution in the event of tyranny. Even here in your comment and the other’s, you’re waiting for congress or your senate or whatever part of your government to save you.
No one is coming to save you. Save yourselves. You have a constitutional amendment for this exact moment in time.
I get that you don’t live here, but there’s nothing like a national initiative process for amendments. That you would like there to be reflects a likely majority view of the voter base, but this does not make it so.
If you’re referring to the 14th, that was shredded already. The Constitution is irrelevant to the junta, as juntas are wont to do. Voting harder in a mythical election that can’t happen is simply not an option.
I would encourage you to know about the U.S. Constitution before spouting off about it. I don’t wander into Canadian politics because I don’t know how it works and can admit that.
Gosh it’s truly incredible. Neither of those amendments were what was referring to but I’m not wasting my time anymore. Enjoy your new country! Y’all have absolutely earned it.
If it’s any comfort, he’s merely planning to take all of the crypto the government has confiscated and merely put it all into one account and do nothing with it.
It’s like taking all the small change from the various couches of your house and putting it all into one water jug and forgetting that it’s in the corner.
So basically useless, like the half (that isn’t destructive) of stuff he does.
the piece that makes me nervous is the selling off of government owned properties. its one of the most valuable and stable assets the government owns and hes attempting to sell it off… some of it we would then have to lease from private owners.
Isn’t that a classic corporate raid technique? Sell the company’s assets to you or an organization you control, then lease them back to the original owners.
didn’t that crush red lobster recently?
Yea turns out the new property management company has its own profit driven motives, and will only push leases higher and higher…
Bold statement coming from someone with a Chili in their name.
Well, that’s the other half - destroy democracy and liquidate its assets like a failed casino.
Wouldn’t it be nice if that sarcasm didn’t reflect reality?
I mean, have you seen how old most of them are?
can’t wait until north korea hacks into it and steals everything.
The government as bagholder of last resort
So he’s going to do the same thing he did to his fanboys to the government? Oh good. Can we impeach this guy yet?
Yay, fucking looser spending tax payer money on another of his looser scams
looser
He’s looser from all of the anal he’s taking from Musk and Putin.
You win the internet today.
shit just slides out
plop plop fizz fizz
Real men take it in the ass.
So what’s this mean?
He’ll take US Tax Dollars and put them in Crypto?
Sounds like a great way to bankrupt your entire country back into the stone age.
No. In fact it explicitly doesn’t allow that.
They’re using a bullshit slight-of-hand to claim they’re not spending government money on it.
They’re planning on using coins seized from criminals. But normally those coins would be sold, and the proceeds from that sale would go to the US Treasury. Instead, they’re going to seize them and just hold onto them.
It’s the same thing. Whether you spend government money to purchase coins and hold them, or you simply hold seize coins, both of these options result in the same increase in the US national debt.
And ultimately it is simply a method of propping up the crypto bubble. They want the US government to be the ultimate “diamond hands” hoarder of crypto. Every time some dark web drug site gets shut down, any coins they hold will be thrown into a government vault, never to be seen again. This effectively removes them from circulation, decreasing the supply, and forcing crypto prices higher. This is taking billions from the Treasury to prop up the crypto market.
Gonna be the most epic rugpull of all time.
In 3… 2…1…
That crypto reserve is a load of old cobblers if I ever saw one. The government is not buying or planning or whatever… they just don’t do anything with the stack they already have, thanks to Biden I guess? And I guess they won’t be chasing many new frauds and rug pullers anymore, with all the crypto broligarch shit they are pulling.
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You know that’s not really accurate, and amusingly so?
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