Our entire government gives credibility to the US dollar, which is based on nothing but trust in the USA. Maybe crypto is just the next step after the gateway drug of US dollars.
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As long as crypto is tied to its value in dollars, isn’t it just a subset of dollars but without the same mguarantees by the government?
Trying to understand Crypto and it’s place in the world makes my head hurt.
But good old fashioned conflict of interest I understand.
Anyway, anybody wanna throw some money into $Trump coin?
10 bucks a pop. was 70.
hate to be the one who bought at peak.
Allan
there were speculators who were bragging about being a trump coin millionaire.
that lasted all of about 1 hour until the market imploded.
Allan
Beanie Babies would be a safer bet.
I’m personally not going to use either, but it ain’t illegal to pump and dump crypto. I am interested to see what happens when bitcoin blockchain is complete, from a shear curiosity standpoint.
The word gives credibility to the US Dollar based on the trust in the USA… Safest place on the planet to invest. At least for now.
No question about that. No denying that.
The day the house of cards tumbles, it will go quickly. I pray it does not happen in my lifetime.
President Trump has made a mistake by putting his finger on the scale and giving credibility to “fake money” which in effect is contrary to our Founders’ clear intentions to forbid notes of any kind [fake money] to be made a legal tender.
For those who are not familiar with our founder’s specifically stated intentions, here is what transpired during the convention with regard to bank notes being made a legal tender. SEE The Debates in the Federal Convention of 1787, reported by James Madison : August 16, 1787
Mr. Govr. MORRIS moved to strike out “and emit bills on the credit of the U. States”-If the United States had credit such bills would be unnecessary: if they had not, unjust & useless.
Mr. BUTLER, 2ds. the motion.
Mr. MADISON, will it not be sufficient to prohibit the making them a tender? This will remove the temptation to emit them with unjust views. And promissory notes in that shape may in some emergencies be best.
____ cut _____
Mr. READ, thought the words, if not struck out, would be as alarming as the mark of the Beast in Revelations.
Mr. LANGDON had rather reject the whole plan than retain the three words “(and emit bills”)
On the motion for striking out
N. H. ay. Mas. ay. Ct ay. N. J. no. Pa. ay. Del. ay. Md. no. Va. ay. [FN23] N. C. ay. S. C. ay. Geo. ay.
[FN23] “This vote in the affirmative by Virga. was occasioned by the acquiescence of Mr. Madison who became satisfied that striking out the words would not disable the Govt. from the use of public notes as far as they could be safe & proper; & would only cut off the pretext for a paper currency, and particularly for making the bills a tender either for public or private debts.”
The irrefutable fact is, our founding fathers intended the market place, and only the market place, to determine what notes [a medium of exchange], if any, were safe and proper to accept in payment of debt, and they specifically chose to forbid folks in government to make a particular bank note, or any “note” [fake money], a legal tender, which if allowed would literally force people and business owners to accept worthless script in payment of debt.
Trump needs to clarify that he is not giving credibility to “bitcoin” or any other fake crypto money, and that he agrees with our Founders intentions, that our marketplace must be left free to determine what crypto fake money, if any, may be safe and proper to use.
It’s unethical for the POTUS to use his office to hype an industry he personally profits from.
What does that mean?
Trump profits from hyping crypto.
Your Trump derangement syndrome comes across loud and clear. 
it’s not derangement. It’s the truth.
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It’s a very easy handle. Do not put your investment in crypto.
Come on…be honest - if Biden or Obama had a company that profited from crypto currency, and then announced the US would start a crypto reserve, everyone rightfully would be going ■■■■■■■ crazy.
As I posted HERE, no president should put their finger on the crypto currency scale by giving credibility to such fake money currencies.
That. And also, no POTUS should use tax payer money to support an industry he profits personally from.
I agree. I suspect Trump is picking Musk’s brain and Musk looks at this as a new toy and Trump sees Musk as a very smart enthusiastic guy and Trump is not going to shut down on it. He will reach his own conclusions. Personally I don’t like it, but it’s going to cause more learning about the currency facts of life.
I still cannot understand why Trump or Musk would give credibility to “bitcoin” by putting the federal governments’ finger on the scale by announcing the creation of a federal bitcoin reserve. Fake money schemes have, throughout history, ultimately ended in pain and suffering, especially among the poorest of us, e.g., General Pinckney during the South Carolina Ratification Legislature Debates of our constitution remarked:
“With regard to Mr. Lowndes’s question, “What harm had paper money done?” General Pinckney answered, that he wondered that gentleman should ask such a question, as he had told the house that he had lost fifteen thousand guineas by depreciation; but he would tell the gentleman what further injuries it had done–it had corrupted the morals of the people; it had diverted them from the paths of honest industry to the ways of ruinous speculation; it had destroyed both public and private credit, and had brought total ruin on numberless widows and orphans.”
