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Trump calls Bitcoin a scam. El Salvador goes all in on Bitcoin

Trump calls Bitcoin a scam. El Salvador goes all in on Bitcoin

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Trump calls Bitcoin a scam, advocates for dollar hegemony

Trump calls Bitcoin a scam, advocates for dollar hegemony

Former United States President Donald Trump has once again slammed Bitcoin ( BTC). Appearing on FOX Business on Monday, the former president remarked: “Bitcoin, it just seems like a scam […] I don’t like it because it is another currency competing against the dollar. Essentially, it is a currency competing against the dollar.

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Bongo
Bongo
June 9, 2021

Proving himself to be a xenophobic financial moron. As usual. Could the dollar be a less convincing scam

Two Party Tag Team
Two Party Tag Team
June 9, 2021

Nobody knows a scam better than a scammer. What’s Biden’s take on it? Could be an opportunity to find mutual interests and mend ties.

Helga I. Fellay
Helga I. Fellay
June 9, 2021

In my view, this is more about El Salvador than about Trump. Years ago I spent a summer in San Salvador, attending the University of El Salvador, and also traveling all across this beautiful tiny country which is only 8.1 square miles small. But it has a huge US embassy, the 2nd largest in the world after the US Embassy in Iraq, which is a veritable fortress, a city within a city. This tells me two things: That the US Empire planned to direct its ME wars from its Bagdad HQ, and tiny San Salvador was chosen as the Headquarters… Read more »

Rhubarb Pie
Rhubarb Pie
Reply to  Helga I. Fellay
June 10, 2021

you mean 8.1 thousand square miles small.

Mondo Cane
Mondo Cane
Reply to  Helga I. Fellay
June 12, 2021

That was were Wiley Willy Walker learned his trade before embarking on Racak as an ‘objective, non-partisan observer’, wasn’t it?

Bob
Bob
June 10, 2021

Trump’s blabbing quite aside, the basic question remains:

is “bitcoin” just another Ponzi scheme, a trendy grand scam of our times, or not?

The emotions invested by both sides hardly contribute to an answer.

Helga I. Fellay
Helga I. Fellay
Reply to  Bob
June 10, 2021

I don’t know what it is, but saw something this morning which caught my eye: “How Did FBI Get Private Key to Bitcoin Wallet Used by Pipeline Hackers? Law enforcement agencies don’t like to share their tradecraft, so how the FBI managed to get the key to this stash isn’t yet public. There’s a chance that the FBI hacked the hackers, or that someone else did and passed the key to the Bureau. Or maybe an informant handed it over. There’s also the possibility that this final address didn’t actually belong to the hackers, but to a cryptocurrency exchange. [Source:… Read more »

Doubting Thomas
Doubting Thomas
Reply to  Helga I. Fellay
June 12, 2021

In short, the entire trade could theoretically be shut down by governments in a week, if so desired. Personally, I think it may very well be tolerated, for the time being anyway, in order to track criminal activity.

And don’t forget regime-change operations. Tolerating may even turn to facilitating, if certain governments so desire.

Last edited 4 days ago by Doubting Thomas
Tony Montana
Tony Montana
Reply to  Doubting Thomas
June 12, 2021

Think of the $billions in transfers in the drug trade alone. I’d assume the entire cross-border business was done in bitcoin these days. Do they really care about volatility? Chances are 50/50 they gain or lose in a transaction that has mega percent returns anyway. Plus, no bank laundering fees.

Tony Montana
Tony Montana
Reply to  Tony Montana
June 12, 2021

Come to think of it, El Salvador’s a growing drug hub. Could have something to do with this bitcoin move, no?

jpthiran
Reply to  Bob
June 11, 2021

…the reality is that all the technology behind does not allow the deployment in a large scale, cryptocurrency can never turn into world money or a new large scale technology…it’s a small scale solution for some to get rich at the expenses of other and a way for crime to transfer money easily…the fact that there are large amounts involved does not mean it can gain scale…it means only that each unit gained a lot o value!…the important is to know if it can gain scale and in my opinion it can’t…on the other side blockchain technology can be very… Read more »

Last edited 5 days ago by jpthiran
Mondo Cane
Mondo Cane
Reply to  Bob
June 12, 2021

There’s an inherent legitimacy, injected with copious amounts of tulip-mania. What I don’t like is the facilitation of criminal activities it lends itself to.But hey, what do I know?

Mondo Cane
Mondo Cane
June 12, 2021

Trump’s no stranger to scams. He just doesn’t like the ones he’s at a loss to understand or control.

Just the average politician

Last edited 4 days ago by Mondo Cane

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