Trump and other top US officials coming out against Bitcoin after Facebook brings the heat down on the industry. What does it mean for Bitcoin?

Sources
https://www.theverge.com//2019/7/15/20695110/facebook-cryptocurrency-democrats-house-libra-ban-big-tech-finance-act
https://cointelegraph.com/news/republic-of-georgia-exempts-cryptocurrencies-from-value-added-tax
https://finance.yahoo.com/news/u-foes-weaponizing-cryptocurrency-says-150457249.html
https://www.zerohedge.com/news/2019-07-16/bank-run-deutsche-bank-clients-are-pulling-1-billion-day
https://news.bitcoin.com/miners-flock-to-iran-where-bitcoin-mining-is-set-to-be-sanctioned/
https://www.coindesk.com/german-finance-minister-facebook-shouldnt-be-allowed-to-compete-with-the-euro

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36 COMMENTS

  1. sorry i'm a couple days behind on your vids, a lot of this laughable. I never been excited about anything facebook does crypto related or not. As for Trump, like he doesn't have a few Bitcoins stashed away that's pocket change for him – but his tweets can be as market manipulating as a couple whales splashing around – how's this for a theory, Trump tweets, Trump's tweet causes a dip, Trump buys the dip lol. Don't believe anything Trump says eg "I love Wikileaks", "Wikileaks, Wikileaks, Wikileaks, I can't get enough of Wikileaks", "What's Wikileaks? I don't know anything about Wikileaks, it's not my thing" lol
    Well I've had a couple of paydays in a row land on some sweet dips to buy 🙂
    Been watching some old episodes of Unsolved Mysteries (Tv show from the 80's) More than one episode featured stories from when the gold ban came in, a number of people went out and stashed thier gold in caves or burried it the desert to avoid having it confiscated, sold it on the black market, smuggled it out of the country, the ban didn't stop gold trade. Gold's heavy, Bitcoin weighs nothing, can be securely stashed or sent out of the country in moments. A ban is useless cos they can't enforce it. At best it can try to control official on/off ramps between btc and fiat, but there's nothing stopping anybody from privately giving anybody else some cash in exchange for crypto or vice versa.

  2. You are officially my favourite tin foil hat wearing crypto genius. Even when I think it’s all gonna drop and see my investment dwindle in fiat… I watch the ‘lark’ and just stack sats and chill. Legend.

  3. Sad is that you didn't bring any scenario where people loose all their money in 10 years because you anticipate that nothing better than Bitcoin has ever been invented in a decade. I would not like to be at your place if this happens.

  4. Until recently, marijuana was illegal where I live..I could littlerly wake up out of bed at 3 am, and go out and find like 10 people that smoke it in like 5 mins. Making something illegal isn't going to stop people for doing it.

  5. Trump has been owned by the Jewish bankers since he was bailed out by Wilbur Ross (now Trump's secretary of commerce) of Rothschild inc back in the 90s, so he is just talking his book, and doing their bidding like a good puppet.

  6. Mr.President bashing Bitcoin? Dont be a banker puppet sir! we know they are afraid. sound money is sound money.Bitcoin=financial restraint not seen since the gold standard. In Bitcoin we trust!

  7. They can never kill Bitcoin. And they know that. Whether Bitcoin is worth $250,000 or $25, it will always be a transactional currency that can be transferred to anyone, anywhere. So they can suck on their worthless paper FIAT all they want – Bitcoin is designed to be unstoppable. And one day it will be the world’s reserve currency. Buy Bitcoin. And fuck the banksters.

  8. I can see why Trump or ANY President on either side of the aisle would see the threat of the dollar decoupling from the economy. Even tho Trump inherited the money printing value loss that is the Fed run dollar, it is still a key part of the American economy. They know that Bitcoin is here to stay, but they also need time to adapt and there is a lot of reasons from a government standpoint to defend the dollar. Unfortunately although you will not see quantitative easing and value dilution on Trumps watch, we can't predict when the next print happy keysonian economic loving socialist will inherit the white house, Congress etc, and pay for ridiculous policy by diluting the dollar in your pocket. Basically this is good news for Bitcoin, the statement from the President shows that it is relevant enough to talk about. And again, he cannot be blamed for upholding the national currency. This is really good news. The only thing that would scare me is if the Democrats would be able to pass some anti-crypto legislation. I really don't think we need to worry too much about it unless they gain a majority in the senate, and it's looking the opposite way. Trump will be re-elected, Conservatives probably will gain seats in the house and Senate, and possibly even a majority in the house, although that might be more likely in 2022. The good news is that despite popular belief, especially by the crypto old guards, conservatives are much less likely to pen authoritarian rules about what you can and cannot do with your own wealth. It is in fact the authoritarian socialists i.e. Democrats that are far more likely to invent ignorant anti-free market rules to ban crypto access. Databyter

  9. That's why I like Trump, whether you agree or disagree with him he is a disruptor of the status quo. He is a master of kicking over the hornets nest and seeing what comes out. He has properly kicked over the crypto hornets nest and now everyone can see what is coming out. The old adage of "there is no such thing as bad publicity" is certainly true in this case.

  10. Know your enemy.

    The system that lets most people suffer in poverty and a few to wallow in self-indulgence because of bloodline or blind luck is the enemy. This is the same system the Romans used, and will end in the same way. The greed of a few is holding back evolution for the rest.

    The heart of the enemy is the banking industry. The banking industry perpetuates debt and most horrifyingly of all, it keeps people static. It weighs them down with car loans, mortgages, personal finance, stock options, credit cards, overdrafts etc.. he point is to keep you in permanent debt, and therefore an employee of the bank until you die. Everybody works for the banks: the only difference lies between those that know it and those that don't.

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