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

NeverTrump

NeverTrump

Exposing GOP since 2015
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Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...

“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,” Trump wrote on Twitter.

“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,” he added.
Click to expand...

So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
 
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NeverTrump said:
Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...



So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
Click to expand...

What the hell's with the capitalizations? Is English his first language?
Damn. Only dumb****s who never read do that kind of ****.
 
NeverTrump said:
Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...



So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
Click to expand...

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
 
RAMOSS said:
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
Click to expand...

This. tRump only cares about three things: His reputation, his sex life, and his bank account.
 
NeverTrump said:
Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...



So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
Click to expand...

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.
 
Crypto currencies such as bitcoin should be outlawed.
 
I bet it gives Putin a sad.
 
NeverTrump said:
Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...



So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
Click to expand...

Wow, Trump says something worthwhile for once.

Bitcoin is a ponzi scheme if ever there was one. Idiots put money in, the smarter ones then take if from them. God, I worked with some guy "Bitcoin's going to be $66,000" and I was like, no, it isn't. And it went from the $19,000 "I'm ****ing rich, yeah, yeah" down to "I don't like bitcoin and won't talk about it" a few weeks later.
 
joko104 said:
Crypto currencies such as bitcoin should be outlawed.
Click to expand...

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...
 
ludin said:
The treasury has ruled bitcoin as a commodity. It is not currency.
Click to expand...

Makes sense. In the market it behaves more like a precious metal than cash.
But is it subject to the normal regulatory practices like that of say gold bullion?
 
GDViking said:
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...
Click to expand...

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.
 
joko104 said:
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.
Click to expand...

Bitcoin = The new wooden nickel

(But with even less real value.)
 
This is odd. Did fox and fools just say something mean about bitcoin, or was it the last random person he talked to?
 
RAMOSS said:
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
Click to expand...
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.
 
MTAtech said:
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.
Click to expand...

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.
 
Hell just froze over because I agree with Trump.

Bitcoin is a high risk speculative investment vehicle that has no intrinsic value.
 
ludin said:
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.
Click to expand...

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.
 
Highly volatile and and based on thin air are works that also describe the dollar.
 
MTAtech said:
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.
Click to expand...

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.
 
HK.227 said:
Makes sense. In the market it behaves more like a precious metal than cash.
But is it subject to the normal regulatory practices like that of say gold bullion?
Click to expand...

it should be but not sure if it is.
 
Juggernaut74 said:
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.
Click to expand...

The only thing that is not legal is failing to claim bartering on your taxes. Treat all trades as you would cash transactions. Any barter transaction is reported on Schedule C, Profit or Loss from Business Form 1040.

if you accept a barter for bitcoins you still must claim it on your tax for the value.
 
NeverTrump said:
Holy ****. Trump just came out against bitcoin. Is he trying to lose the election? The majority of his base, who know what it is, believe in bitcoin and it's get rich quick idealism. From an election standpoint this makes no sense to me. From looking at this from my past conservative standpoint this makes no sense to me. From a CT standpoint, this makes no sense to me. I actually agree with a lot of what the tweet says, so I'd like to thank the lobbyist who wrote it. Too bad I can't...



So we can conclude from this that:

Trump didn't write those tweets

0 chance that trump understands cryptocurrencies (or how much his base likes them)

He didn't ask Barron, who is very good with the cyber


Trump blasts Bitcoin, Facebook's Libra, demands they face banking regulations
Click to expand...

I'll go with people writing his tweets like that, not Trump. Nobody can be this dumb.

Disgusted Face Girl.jpg
 
ludin said:
The only thing that is not legal is failing to claim bartering on your taxes. Treat all trades as you would cash transactions. Any barter transaction is reported on Schedule C, Profit or Loss from Business Form 1040.

if you accept a barter for bitcoins you still must claim it on your tax for the value.
Click to expand...

Of course. I never claimed otherwise.

I was merely correcting this, which is entirely, 100% incorrect:

ludin said:
...no retailer could accept bitcoin for exchange.

in order to buy something with bitcoins you would first have to exchange them out as dollars.
Click to expand...
 
Phys251 said:
This. tRump only cares about three things: His reputation, his sex life, and his bank account.
Click to expand...

Wrong. He doesn't care about his reputation. It is so poor, it literally couldn't get any worse. What are we going to find out, he's a pedophile? Too late:

Donald Trump boasted about meeting semi-naked teenagers in beauty pageants | The Independent
“He just came strolling right in. There was no second to put a robe on or any sort of clothing or anything. Some girls were topless. Other girls were naked.”
...
Four women who competed in the 1997 Miss Teen USA beauty pageant also said the Republican used to walk in. Some of the girls were as young as 15.


And most of his base obviously doesn't care. If they get pushed enough on the topic, we'll probably be told peeping on naked children is just "locker room" behavior where they come from.
 
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