Cash Will Be Obsolete Soon

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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)

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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.
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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.

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Then the worldwide implant of the microchip.

Bel6EQUJ5

@PowerofStories

Even earlier this year DJT was calling cryptocurrency a scam.

That's because it IS a scam, and you've fallen for it! 😂