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[Merged] Bitcoin - Part 3

maybe the general public has finally figured out there's not a whole lot of use for the stuff?
 
Wow. Looked at BTC rates today, after a long time. Neither hold the stuff, nor have any intention to: but given Musk, and not to mention Trump, thought I'd check. It's 91.8k, apparently! Double wow.

This was a great gamble, actually, for anyone that might have been looking for ways to profit off of a Trump win. For those so inclined, that is to say. Me, I wouldn't care to profit off of the orange horror's rise, and nor, in any case, had I expected he'd win. But, for those that might have thought he might, and for those whose scruples wouldn't keep them from profiting off of that, then putting something into BTC is something they might have profited massively off of.

I looked at estimates just now --- just glanced at what Google threw up, without checking sources or methodologies --- and apparently they're predicting it will breach 100K. Which it well might, why not. It's a bubble, sure, but a bubble that has no reason, unless something completely unexpected happens, to deflate over the next two or three years at least.
 
Michael Saylor keeps raising his average price, not so long ago it was 35k.
His profit is wiped out with a modest 43% decline from the peak of about 99750.
99% of Microstrategy is owning bitcoin, and the stock is trading at 3 times the value of its bitcoin holdings.
Fascinating bet, Nelson Bunker Hunt and silver comes to mind.

"As of Sunday, MicroStrategy held approximately 386,700 bitcoins, acquired for an aggregate purchase price of about $21.9 billion and an average purchase price of approximately $56,761 per bitcoin."

 
Been hearing that for over a decade though. Appears not to be happening.

I mean, government can't stop people from bartering between themselves on any legal or moral grounds, as long as applicable taxes aren't being dodged. Crypto is a bartering chip with an agreed on value (via market valuation). What could government even do in theory?
 
what i mean is that they're buying up crypto now, going to buy tons of it with tax payer money for the government reserve, then cash out and leave the taxpayer and anyone who isn't smart enough to get out as the bag holder. they could siphon billions of taxpayer money to themselves through crypto.
 
they already have millions in a bunch of different crypto right now. but even if you didn't, what would buying at ath today mean to you if you could inject tens of billions of someone else's money in tomorrow?
 
dirtywick said:
they already have millions in a bunch of different crypto right now. but even if you didn't, what would buying at ath today mean to you if you could inject tens of billions of someone else's money in tomorrow?
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That would indeed be better done with something smaller, but still well known. Still it seems too complicated. Why not just steal the money ? Worked for generations.
 
dirtywick said:
what i mean is that they're buying up crypto now, going to buy tons of it with tax payer money for the government reserve, then cash out and leave the taxpayer and anyone who isn't smart enough to get out as the bag holder. they could siphon billions of taxpayer money to themselves through crypto.
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That is classic CT. It doesn't even make sense. How could politicians use tax payers' money to "pump 'n dump" crypto and profit personally from this? Are you claiming that they have already bought BTC at a lower price and are now using tax payers' money to push up the price before selling their individual holdings?
 
psionl0 said:
That is classic CT. It doesn't even make sense. How could politicians use tax payers' money to "pump 'n dump" crypto and profit personally from this? Are you claiming that they have already bought BTC at a lower price and are now using tax payers' money to push up the price before selling their individual holdings?
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yes. for one, they already have large holdings in crypto right now, including their own tokens and an exchange, so we are halfway there.

unless you can state what the taxpayer benefit to the us investing hundreds of billions into a large strategic reserve of crypto, that seems to be it's only use
 
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dirtywick said:
yes. for one, they already have large holdings in crypto right now, including their own tokens and an exchange, so we are halfway there.
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Who? the politicians or the government? In the case of the government, how much tax payers' money did they use to buy crypto (as distinct from the cryptos they got from asset seizures)?

dirtywick said:
unless you can state what the taxpayer benefit to the us investing hundreds of billions into a large strategic reserve of crypto, that seems to be it's only use
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If your theory is that the only reason the government has crypto is to enrich individual politicians then the onus is on you to show some evidence.
 
well, it's just my feeling on the hundreds of billions of taxpayer money that will end up on the crypto market if they are successful in pushing a republican effort for the government setting up a strategic reserve in crypto through a republican house and republican senate while backed by trump. as far as who they are, it's those individual politicians and probably many more, and all the heavily into crypto rich guy backers that trump has in his orbit. which is a lot of people with a lot of money that own a lot of crypto that want more. i can't see a way this isn't completely abused by these guys

i apologize for my lack of initial clarity, but it has nothing to do with what you're talking about.
 
98.8k. That's 100k, for all practical purposes.

Saw this guy, some crypto analyst, yammering away on TV. He was predicting "180k to 240k"!! Didn't mention any time frame though, not that I noticed (was multitasking, wasn't really paying close attention).

No idea how they come up with these numbers. From deep inside their nether orifices, probably. But for all that, who knows, may well hit the mark, in this insane new world.
 
dirtywick said:
https://www.worldlibertyfinancial.com/
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It's all in the fine print.
None of Donald J. Trump, any of his family members or any director, officer or employee of the Trump Organization, DT Marks DEFI LLC or any of their respective affiliates is an officer, director, founder, or employee of World Liberty Financial or its affiliates.

None of World Liberty Financial, Inc., its affiliates or the World Liberty Financial platform is owned, managed, or operated, by Donald J. Trump, any of his family members, the Trump Organization, DT Marks DEFI LLC or any of their respective directors, officers, employees, affiliates, or principals.

$WLFI tokens and use of the World Liberty Financial platform are offered and sold solely by World Liberty Financial or its affiliates.

DT Marks DeFi, LLC and its affiliates, including Donald J. Trump has or may receive approximately 22.5 billion tokens from World Liberty Financial, and will be entitled to receive 75% of net protocol revenues as defined in a services agreement to include revenue from any source after deduction of agreed reserves, expenses and other amounts, which amount cannot yet be determined. World Liberty Financial and $WLFI are not political and not part of any political campaign.
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well he didn't write the code if that's what you thought i meant. the fine print says he's not a bunch of titles but for some reason, unrelated i guess, will still receive billions in tokens and 75% of revenue and his picture is plastered all over it's marketing, so it's a distinction without merit.
 
dirtywick said:
well he didn't write the code if that's what you thought i meant. the fine print says he's not a bunch of titles but for some reason, unrelated i guess, will still receive billions in tokens and 75% of revenue and his picture is plastered all over it's marketing, so it's a distinction without merit.
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Dr.Sid said:
Seems like he simply paid a company to run the token for him.
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Still making up facts. The only thing beyond dispute is that WLF named their crypto "DTC" and gave Trump some of them - presumably to entice his support.
 
haha that's just some disclaimer at the bottom of their website, they can write anything they want down there. he's clearly heavily involved in it
 
psionl0 said:
Like I said, CT trumps facts every time.
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Whether he owns it or not is a red herring. Someone else will do the work and Trump gets paid for having his name attached to it. That's been his business model for forever. It wasn't like he was out there writing syllabuses for Trump U. or picking out sirloin for Trump Steaks. He's a brand. I'd almost respect Trump less if he wasn't grabbing that low hanging influencer poopcoin market manipulation fruit.
 
yeah, he has legal disclaimer that he's not liable for anything that the project does. so what
 
Suddenly said:
Whether he owns it or not is a red herring. Someone else will do the work and Trump gets paid for having his name attached to it. That's been his business model for forever. It wasn't like he was out there writing syllabuses for Trump U. or picking out sirloin for Trump Steaks. He's a brand. I'd almost respect Trump less if he wasn't grabbing that low hanging influencer poopcoin market manipulation fruit.
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I still haven't seen any evidence that $WLFI created their crypto at Trump's direction. Clearly, some discussions went on for Trump to receive some of their coins but I don't know the details of those discussions nor who initiated them.
 
psionl0 said:
I still haven't seen any evidence that $WLFI created their crypto at Trump's direction. Clearly, some discussions went on for Trump to receive some of their coins but I don't know the details of those discussions nor who initiated them.
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He understands mob boss tactics. At most he expressed interest in the idea and others made it happen. Pinning his business to him is never going to be possible.

Really, given his influence and the volume of unhinged support it wouldn't have to be a scam. If they gassed up enough Trumpies to think that using Trump's coin was a way to own the libs or fight the deep state it could end up as a medium of exchange in a significant way. That is depending on the soundness of the coin, etc.
 
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