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Cash Will Be Obsolete Soon

[media=https://youtu.be/geJbloTLfLo?feature=shared]

The world is beginning to lean strongly toward cryptocurrency. It may soon become a cashless society and mandatory..... Trump may just lead this into play. (They will be throwing their silver and gold into the streets / meaning what is termed money will have no value)
PowerofStories · 61-69, M
I am a supporter of Bitcoin, not cryptocurrency in general and I've been a holder of it for at least 5 years. And I'm willing to say that what you suggest may happen is a genuine possibility. Bitcoin is already legal tender in El Salvador and is widely used in many countries. And it is starting to be held even by college pension funds.

However, I'm skeptical, to say the least about Trump and his knucklehead sons' ability to lead any business, let alone cryptocurrency, where much smarter people then them have been in the game for years.

Even earlier this year DJT was calling cryptocurrency a scam. My guess is that it will be yet another one of his failed businesses, including Trump Steaks, Trump Bibles, Trump University, 2 failed casinos in Atlantic City, and his media empire which has been a disaster for its shareholders. He came very close to declaring personal bankruptcy years ago, until a shrewd lawyer told them about the leverage he had because he owed so many people money. He was given more than 400 million dollars and prime location real estate by his father and would have done better financially if he had just invested it in an index fund.

My understanding of his cryptocurrency platform is that it isn't actually a currency, but actually a banking platform where people get tokens to vote on governance of the banking platform. And he and his shareholders take a cut of roughly 20 to 30% off the top before the tokens are even issued. His only real stake in cryptocurrency is getting donations from existing cryptocurrency businesses which are willing to pay him large amounts of money in return for promises of looser federalregulation of cryptocurrency.

Time will tell of course, but there are already smarter and better established players in the centralized finance space that his new company hopes to enter.
SDavis · 56-60, F
@PowerofStories

From my understanding bitcorn is a specific type of cryptocurrency - (a few differences.) So when I use the term cryptocurrency it's covering them all.
https://www.bitget.com/wiki/what-is-the-difference-between-bitcoin-and-cryptocurrency

Agreed Trump has failed at much of his businesses, yet it is said he is still worth 3.9 billion, not the richest but a multi-billionaire.

Here in Texas in the city of El Paso he still owes over 500,000 for a campaign rally held in his first election and a hefty amount in five other states not to mention all the civil lawsuits against him. Yet he has managed to continually campaign for the past 4 years and raked in 331 million in the second quarter of this year.

https://apnews.com/article/trump-fundraising-biden-second-quarter-ed2a070b3e513277dc9ab0f57d52b48a

And his businesses earning millions

https://www.cnn.com/2024/08/23/politics/trump-businesses-campaign-spending-invs/index.html

Jared kushner is in the background

https://www.cnbc.com/2022/01/12/jared-kushner-is-a-bitcoin-and-crypto-fan-mnuchin-emails-show.html

https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html

https://www.nytimes.com/2024/03/15/us/politics/jared-kushner-pursuing-development-deals-in-albania-and-serbia.html

And when you look at Elon Musk and his support for Trump last I heard it was 45 million a month - and Musk has his own cryptocurrency doesn't he.
[media=https://youtu.be/Nyhyo0fEZ3s?feature=shared]

Trump has last known 71 million Americans supporting him - which may or may not have dropped or increased. And just like they bought his Bibles they'll buy into his cryptocurrency.

Government in the US has been searching for a few decades a way to eliminate cash - (since the 1980s, they felt it would put it into many crimes) - it's here, may need a little tweaking but it is the start.

[media=https://youtu.be/BD1MoUgV3Gk?feature=shared]

Then the worldwide implant of the microchip.
@PowerofStories
Even earlier this year DJT was calling cryptocurrency a scam.
That's because it IS a scam, and you've fallen for it! 😂
emiliya · 22-25, F
Cryptocurrency is still a product, a product that you can sell to get cash. If it is a product that people prefer to sell, it is not going to take over as a currency.

The banking industries and our governments can't control crypto, and they have to control money. Its appeal is that it isn't real money from a bank, yet it can bring you real money from a bank.
whowasthatmaskedman · 70-79, M
@emiliya I am not selling them to you. I am using something imaginary to pay for something from you. Apples. Eggs or giving me a haircut. As long as you accept them as payment//😷
emiliya · 22-25, F
@whowasthatmaskedman South Africa says the fairies are a financial product. This means they are regulated over there. I say unless it is a foreign currency that can be exchanged into another one, that you can grasp in your hands, it is a product to sell to a foolish person. You sell it so you can get real money. You are making them think they have a real asset when they don't.
whowasthatmaskedman · 70-79, M
@emiliya Crypto will always be a high risk proposition. Thats part of why the black economy embraced it for drug deals and arms shipments😷.
whowasthatmaskedman · 70-79, M
OK.. You lost me at "Trump" This is a follow up to his "Crypto led recovery plan for the US". and its a scam right up there with gold painted sneakers.. Of course the MAGAts wont listen. But hey, its their their kids orthodontic or collegs fund.. I cant think of a surer war of making them an underclass in the long term than turning them into Cletus from the Simpsons..
All Crypto currencies have the potential to scam their holders, without exception. Add a Trump to the mix and you can smell it a mile off.. (By the way.. There is no way, even with the best will and most honest brokers, that Crypto currency will help Americas foreign debt. Just ask Donald to explain how.. He doesnt know either..😷
whowasthatmaskedman · 70-79, M
@SDavis OK. Lets start at the beginning. Elon Musk reneged on the donation offer and said so publicly. Bidens musings were about some sort of regulation to keep the pirates under control in cryto currency to monitor transactions hat might be criminal. And Trump is not anything in the US government right now. So him taslking crypto is not the same as the government looking at it.😷
SDavis · 56-60, F
@whowasthatmaskedman

This is what I mean when I say the government looking into digital currency which is a form of cryptocurrency. I was not referring to it being the same as Trump looking into it.

[media=https://youtu.be/gc4AMfwjY7o?feature=shared]

People expected for Hillary to win but the electoral vote gave the election to Trump. So regardless of his standing there is always the possibility - and his standing wasn't very good in 2016.


This is what I meant when I put Trump in it.............. Musk still supports Trump even if he reneged his pledge of 45 million a month as you said and if Trump wins it will be Trump and Musk and Kushner.
https://www.cbsnews.com/news/donald-trump-elon-musk-government-efficiency-commission/

Headline 2 days ago ::
https://www.business-standard.com/world-news/us-presidential-polls-elon-musk-endorses-trump-his-workers-back-harris-124092000278_1.html

Headline 16 hours ago::
https://fortune.com/2024/09/21/kamala-harris-campaign-finance-wall-street-silicon-valley-elon-musk-crypto-donald-trump/

People are missing the point, completely; these billionaires are all getting into forms of cryptocurrency - the US government is looking at forms of cryptocurrency..... And other countries are beginning to look at cryptocurrency.
I reiterate - on the way to a cashless society credit / debit cards who was the beginning - internet made it more with widespread / leading to digital currency.

And when I read reports from substantial and accredited companies / medias I have a tendency to listen.
whowasthatmaskedman · 70-79, M
@SDavis I agree with you that many billionaires are moving their money withinb Crypto. Its harder to track, easier to move and impossible to tax. So why wouldnt they? However, what Trump was floating was the idea of HIS new brand of crypto (presumable called "The Trump") a being the saviour of the US economy. And the US economy can actually to less with a Crypto currency than it can with the $US. If he launches this it will be like Truth social. Nothing to back it and the only person to make anything will be Trump. Because it will be other peoples money in it and he takes his cut off the top. As he has with the Truth social shares. He put up zero money, for close to 60% of the business.. If he sells the shares for $1 he still makes millions, off other peoples money..😷
Seriously? People have been predicting the "cashless society" since at least the 1980's haven't they? 😂
And you can't buy bread and milk using Bitcoin!
SDavis · 56-60, F
@Bel6EQUJ5

Nor am I unhinged _ I am not radical _ definitely not a Protestant _ but dear person you look at me as you choose makes me no difference.

And who is you people? I'm not the one who decided what books to leave in and what books to take out my conception was hundreds of years later. And the Apocrypha is not a quarter of the Bible.
@SDavis If you're not a Protestant, then why did you mention "the Beast", "the Antichrist" and the "one world system"? Catholic and Orthodox Christians generally don't care about those sorts of things in the Bible.
SDavis · 56-60, F
@Bel6EQUJ5 I mentioned it because the beast and his Antichrist are spoken of in Revelation 13 and what they will do and Antichrist is spoken of in a few places in the New testament.

You say Catholics and Orthodox Christians generally don't care about those sort of things - well they should.
windinhishair · 61-69, M
Cryptocurrency is the current equivalent of the tulip craze of 1633-1637 in Holland, and will end similarly.
gol979 · 41-45, M
A genuine, decentalised currency (digital or physical) will be opposed at every turn. I think bitcoin was a psyop to lay the foundations for CBDC. The ramifications of this, if it comes to pass, would be a disaster for people. CBDCs are being piloted globally and they are working on "inter-connectivity" ie a global currency
SDavis · 56-60, F
@gol979 Liken so what the Pope spoke of having - a one system bank currency (One world currency)
https://www.ccn.com/vatican-called-central-world-bank-blamed-money-printing-financial-crisis/
SDavis · 56-60, F
@gol979 👍
gol979 · 41-45, M
@SDavis yep. Or what the head of the Bank of International Settlements (the central bank of central banks) stated, "we will have live control of all transactions". Its about control, not autonomy.
Strictmichael75 · 61-69, M
What happens when you have an electricity outage??
It will never happen
SDavis · 56-60, F
@Strictmichael75 the same thing that happens now there will be no business.

Only the mom and pop shops where they still have the hand operated cash register or the manual operated gas pump or still use handwritten systems of record-keeping etc etc etc will function.

Do you actually think people are stupid?

Even with money / cash money _ today and 20 years ago. If the electricity goes out - there is a mass blackout _ everything shuts down. So you can't go to a grocery store you can't go buy gas unless they have their own power generated generators or a source of electricity to keep their businesses running.

 
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