While I agree that BTC was basically designed to get around financial controls (usually controlled by Govts) there would be some value in having some BTC in a country experiencing high inflation, corruption, and crime.
Nigeria would be a good example.
70% of the āpriceā of BTC is basically wash trading.
BTC basically depends on suckers (new entrants) to keep the price up.
As a store of value, it is rather poor option for the vast majority of humanity.
Yeah but they donāt have to use crypto. There are countries that peg their currency to other countries or accept multiple forms of currency (Iām thinking of all the Caribbean islands accepting US dollars along with their own form of currency)
I donāt think a crypto ban would halt drug trade or money laundering
But it would make laundering less efficient
Iām okay banning something that doesnāt have much utility outside of criminal activity. Probably should have been done before it became an investment vehicle
IMO one of the main purposes of BTC was to socialize the transparency of and permanent tracking of all transactions. Cryptocurrency is not going away for this reason, in fact itās just getting started. Sure, BTC itself will be expendable one day. Perhaps soon.
Nobody was asking for that.
I agree that the underlying technology is interesting, and may eventually find a use. But that use is unlikely to be in currency, and really nobodyās found a use for it yet.
Brothers conspire to nab $25M in crypto, wow.
Not bad for 12 seconds.
Iām cackling
I thought blockchains were supposed to be impervious to this type of stuff
Flush this tech down the toilet
I think itās funny that so many crypto bros are all āwe donāt need the government OR your government money.ā
And now theyāre all āhello, department of justice? Got a case for ya.ā
Supposedly a Barron Trump Shkreli(felon) DJT token has gone virtually belly up as someone bailed on a big stake.
From what I can tell, Shkreli claims that Barron was involved and claims he is the one who sold 20% of the coin.
Could be true, but even from my leftist position, with no confirmation other than from an infamous grifter, I have my doubts. Knowing little about Barron except who his father is, itās certainly possible heās stupid enough to throw in with Shkreli, but any reasonable person would run. Shkreli may have just created the DJT token to grift.
So Trump is launching a Crypto. He just did some interview about it and it was obvious he knows nothing about Crypto other than maybe there is money to be made on grifting it. It almost sounds like he gets all of his info about Crypto from Barron and it wouldnāt surprise me if he wants to make Barron the US Crypto czar.