this post was submitted on 12 Jun 2024
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247
Trump Turns Bitcoin Into Test of Patriotism (gizmodo.com)
submitted 5 months ago by [email protected] to c/[email protected]
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[–] [email protected] 47 points 5 months ago (2 children)

Once again Trump proves himself to be a mere opportunist and grifter without principles or convictions. While in office Steven Mnuchin tried to kill crypto at the behest of the banking industry and Trump was vocal against Bitcoin. Once he left the White House he peddled his own NFTs.

[–] [email protected] 49 points 5 months ago* (last edited 5 months ago)

without principles or convictions

He has 34 convictions

[–] [email protected] 4 points 5 months ago (1 children)

We all know politicians have no morals. The reason he changed his stance is very simply because the crypto industry very well could get him elected. Crypto is a growing concern for a lot of people and he has to see that.

[–] [email protected] 5 points 5 months ago (1 children)

Crypto is a growing concern for a lot of people

What do you mean?

[–] [email protected] 3 points 5 months ago (1 children)

More and more people have used it or would use it or are interested in using it.

[–] [email protected] 0 points 5 months ago (3 children)

But they're almost all using it STUPIDLY, aren't they?

How many people who purport to have Bitcoin actually hold their own private key?

[–] [email protected] 4 points 5 months ago

Now you make a very fair point there. If you hold Bitcoin on an exchange or an ETF or somebody else holds it for you, you don't own Bitcoin. That's for sure. In those cases, you hold an IOU for Bitcoin. And that's worth just about as much as it sounds. In other words, shit.

[–] [email protected] 2 points 5 months ago* (last edited 5 months ago) (1 children)

How many people hold a key to their bank's vault or deposit box?

[–] [email protected] 1 points 5 months ago

Safe deposit box?

Everyone who has one, I hope.

It's called a Bitcoin "wallet", too. If someone else is holding yours, it's not your money.

[–] [email protected] 1 points 5 months ago

How is that relevant? He's looking for votes, not to change what currencies people use.