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Thread: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by GDViking View Post
    Interesting,i have been pretty neutral on this subject, however as I have never seen you have a rational thought, I will have to look closer, there must be something credible there...
    I do not believe there should be a private currency, just like states, cities, companies, banks, and rich people can't create private currency in general.

    Specifically, bicoins bypass the many safeguards against certain types of criminal conveyance of money.

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by joko104 View Post
    I do not believe there should be a private currency, just like states, cities, companies, banks, and rich people can't create private currency in general.

    Specifically, bicoins bypass the many safeguards against certain types of criminal conveyance of money.
    Bitcoin = The new wooden nickel

    (But with even less real value.)
    Bernie or Bang / Go Vote for Yang / Tulsi - Just Dang!

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    as of on queue, a virtual currency exchange was hacked in Japan:

    Japan cryptocurrency exchange loses $32 million of virtual money
    People in Dubai don't like the Flintstones but people in Abu Dhabi do

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    This is odd. Did fox and fools just say something mean about bitcoin, or was it the last random person he talked to?

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by RAMOSS View Post
    Well, i agree with some of what he says, but I suspect he has a personal financial dealing or favor. I agree with the principle, but I am distrustful of motivation and how it was announced
    Well, I agree with some of what was written too. Cryptocurrencies should be regulated. I remember a few month ago, a cryptocurrency CEO died and there were no backup keys. (Cryptocurrency CEO dies, and no one else knows passwords to unlock millions in customer coins) Customer money was still there but there was no way to access it.

    He's wrong that cryptocurrency isn't money. It is. Trump still lives on the world where money is pieces of paper with portraits of dead white guys.
    “Those who can make you believe absurdities, can make you commit atrocities.” ― Voltaire

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by MTAtech View Post
    Well, I agree with some of what was written too. Cryptocurrencies should be regulated. I remember a few month ago, a cryptocurrency CEO died and there were no backup keys. (Cryptocurrency CEO dies, and no one else knows passwords to unlock millions in customer coins) Customer money was still there but there was no way to access it.

    He's wrong that cryptocurrency isn't money. It is. Trump still lives on the world where money is pieces of paper with portraits of dead white guys.
    Due to technical limitiations of the speed of transactions, bitcoin is a commodity, rather than currency. That, and the lack of regulation. The volubility and lack of regulation make it vulnerable to manipulation by the 'big' holders.
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    "The ideal subject of totalitarian rule is not the convinced Nazi or the convinced Communist, but people for whom the distinction between fact and fiction (i.e., the reality of experience) and the distinction between true and false (i.e., the standards of thought) no longer exist."

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Hell just froze over because I agree with Trump.

    Bitcoin is a high risk speculative investment vehicle that has no intrinsic value.
    If you have to resort to insults, name calling, ad hominem attacks, straw men, red herrings, appeals to authority, and other dirty debate tactics, the veracity of you argument is questionable.

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by ludin View Post
    Yet he isn't wrong. The treasury has ruled bitcoin as a commodity. It is not currency.
    meaning no retailer could accept bitcoin for exchange.

    in order to buy something with bitcoins you would first have to exchange them out as dollars.
    people that are accepting bitcoins for items are more trading than purchase but that is a grey area
    that the law need cleared up on.
    There is no law that says only dollars are allowed to be accepted for retail transactions. A private business is free to accept chickens, Lincoln logs, paper clips, or whatever the heck it wants to accept. I may be wrong, but I believe the only transaction that LEGALLY must be conducted in dollars is the payment of taxes.

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Highly volatile and and based on thin air are works that also describe the dollar.

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    Re: Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations

    Quote Originally Posted by MTAtech View Post
    Well, I agree with some of what was written too. Cryptocurrencies should be regulated. I remember a few month ago, a cryptocurrency CEO died and there were no backup keys. (Cryptocurrency CEO dies, and no one else knows passwords to unlock millions in customer coins) Customer money was still there but there was no way to access it.

    He's wrong that cryptocurrency isn't money. It is. Trump still lives on the world where money is pieces of paper with portraits of dead white guys.
    I also read that one thing that drove the price for bitcoin higher was manipulation, where people who had lots of bitcoins sold the bitcoins to themselves at a high price to drive the value up., and then let it drop after they sold a bunch.
    Quote Originally Posted by Hannah Arendt
    "The ideal subject of totalitarian rule is not the convinced Nazi or the convinced Communist, but people for whom the distinction between fact and fiction (i.e., the reality of experience) and the distinction between true and false (i.e., the standards of thought) no longer exist."

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