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Trump says remaining Bitcoin must be made in US

submitted by Sal_180 to Crypto 1 yearJun 13, 2024 08:37:16 ago (+14/-0)     (thehill.com)

https://thehill.com/policy/technology/4717755-trump-says-remaining-bitcoin-must-be-made-in-us/damp/?nxs-test=damp



43 comments block

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[ - ] Jinglebanger 3 points 1 yearJun 13, 2024 09:15:56 ago (+3/-0)

Complete coincidence big banks have been looking to buy Bitcoin farms and power stations as part of their M&A strategies I'm sure.

[ - ] FreeinTX 3 points 1 yearJun 13, 2024 09:38:48 ago (+3/-0)

He didn't say "must" and you're implying that he doesn't understand how bitcoin works. He must definitely does. He was making an America First optimistic statement.

[ - ] HeyJames 0 points 1 yearJun 13, 2024 16:00:23 ago (+0/-0)

Lol I'm very much doubtful Trump is well versed in crypto and understands the technology behind it

[ - ] FreeinTX 1 point 1 yearJun 13, 2024 16:15:34 ago (+1/-0)

Why? He has been endorsing crypto for well over a decade. He's the guy that even did NFT's, which, for his NFT's, have brought a 500% RoI.

A multi-billionaire with an economics degree (a BS) from Wharton School of Business.

You may hate Trump, but damn, give him credit for knowing about money.

[ - ] HeyJames 1 point 1 yearJun 13, 2024 19:11:26 ago (+1/-0)

He likely understands the business aspect but I doubt he understands the technology

[ - ] FreeinTX 0 points 1 yearJun 13, 2024 19:18:15 ago (+0/-0)

Now, you're trying to parse to avoid the obvious.

Very, very few people understand the technology of bitcoin. That's not even important, although given that his statements about the US leading the charge for bitcoin were in relation to US energy independence, I'd say that he knows more than most. What is important is that he understands the purpose of bitcoin, the uniqueness of crypto, the whole point of bitcoin, and for lack of a better term, the intrinsic value of the technology behind bitcoin.

[ - ] HeyJames 0 points 1 yearJun 13, 2024 21:15:34 ago (+0/-0)

I understand the technology

[ - ] FreeinTX 0 points 1 yearJun 13, 2024 23:05:30 ago (+0/-0)

That's not even important, although given that his statements about the US leading the charge for bitcoin were in relation to US energy independence, I'd say that he knows more than most.

[ - ] Sector2 0 points 1 yearJun 13, 2024 17:01:34 ago (+0/-0)

[ - ] FreeinTX 0 points 1 yearJun 13, 2024 18:14:35 ago (+0/-0)

America First! America First!

[ - ] I_am_baal 2 points 1 yearJun 13, 2024 09:38:54 ago (+4/-2)

Yeah, bitcoin is largely compromised as it is right now. Another more advanced crypto will take the crown eventually. There is a large part of the crypto community that is very anti-government. The technology they produce will reflect that. People and technologies can be compromised and killed, but the ripples that emanate from them are much more resilient.

[ - ] o0shad0o 3 points 1 yearJun 13, 2024 12:35:46 ago (+3/-0)

For context: The Bitcoin currency itself is pretty darn secure, based on SHA256. For now. Part of the problem is people are loving "hot wallets", keeping their coins in exchange accounts where exchanges are subject to hacking attacks and have been looted in the past. Another issue is the "lightning" network, which increases the capacity and speed of coin trading, but is potentially exploitable. Yet another is people who aren't in the know calling all cryptocurrency "bitcoin" and treating fly-by-nights and coins with big security issues as the same thing. Still another issue is a huge number of coins that were mined at the start of the project, that are sitting in cold wallets that might have been lost or might be spent at any time.

If you keep your Bitcoins in a cold wallet, and wait for a large number of following transactions in the blockchain, then you're probably okay, for now. But there will be an issue coming up when the last coin is mined, and that's not as far in the future any more. Once that happens, the current transaction system will have to be replaced with one that will be more exploitable.

[ - ] I_am_baal 1 point 1 yearJun 13, 2024 13:04:45 ago (+2/-1)*

Indeed. The currency is itself is still alright for now in its current form. In future developments, I expect it to eventually go downhill. The lightning network and the block size limits are both examples of that. In any case, there are more privacy oriented cryptos out there that function more like cash than bitcoin in terms of anon transactions. I'm not 100% up to date on those cryptos, but I expect further development in that direction, and I expect one or more of them to gain a lot of traction, enough to rival and eventually dethrone bitcoin in transaction volume and adoption.

[ - ] Master_Foo -1 points 1 yearJun 13, 2024 14:18:19 ago (+1/-2)

You notice how you don't explain how bitcoin is compromised?
This is the most obvious way to tell the person talking about Bitcoin doesn't know anything about Bitcoin.
A knowledgable person would point to the vlaw in the source code, then submit a patch to fix it.
You didn't do that.

[ - ] I_am_baal 1 point 1 yearJun 13, 2024 16:38:50 ago (+1/-0)*

See my other comment. I think you're misunderstanding what I'm saying here. My main gripe with the code as it is currently is with the lightning network and the small block size, which I believe was a deliberate effort to cause transaction volume issues and to generate some market ripples and public perceptions that could be taken advantage of both financially and for propaganda purposes against crypto. There was a lot of manipulation of the whole discussion on places where there is abundant jewish control like reddit, and I think the developers took the wrong path here as a result.

I don't think it was started by kikes if that's what you think I'm saying here; I actually like bitcoin and crypto in general. I just don't think this is the end of bad development choices which will eventually result in bitcoin losing the crown to another cryptocurrency more resilient against kikery. It's just been a major target for subversion because cryptocurrency threatens world kikery. The jewish intention behind the attack against bitcoin is to replace it with CBDC.

That's just my two cents. Take it as you will.

Also, I can't forcibly patch the main code base. If I tried to do something like that, it would have to be by forking the code. The fork would be a new cryptocurrency based on the old code base. There are already forks of bitcoin that solve these issues like bitcoin cash.

[ - ] rzr97 1 point 1 yearJun 13, 2024 17:07:22 ago (+1/-0)

For what it's worth I agree with you. They stopped a blocksize increase and massively threw sand in the gears and turned it into a gold substitute instead of cash. Having said that the lightning network does actually work. There was a ton of momentum at the time and many companies were starting to integrate it.

I don't care what coin people use but just use them. Don't invest but use them. Get off using jew money they create at will and require dei to get loans in. Monero is awesome as you can't truly have money without privacy.

[ - ] I_am_baal 0 points 1 yearJun 13, 2024 18:57:54 ago (+0/-0)

agreed

[ - ] RobertJHarsh 2 points 1 yearJun 13, 2024 10:15:13 ago (+4/-2)

Trump is into Scamcoin? Not surprising. I wonder how much Scamcoin his campaign has got so far.

[ - ] rzr97 2 points 1 yearJun 13, 2024 11:41:58 ago (+2/-0)

usd = scamcoin. Literally made by jew bankers. Who still thinks the government makes us dollars and not banks? Folks only banks make us dollars--either ordinary commercial banks or the central bank. The vast majority of us dollars are digital and the physical ones the central bank pays the treasury to make and then takes ownership of them for distribution. That's simply to maintain the physical supply.

At least with bitcoin and cryptocurrency in general an attempt is made at decentralization.

[ - ] doginventer 0 points 1 yearJun 13, 2024 13:21:55 ago (+0/-0)

Who finances Trump and would like to implement CBDC?

[ - ] rzr97 0 points 1 yearJun 13, 2024 17:05:07 ago (+0/-0)

cbdc already exists. it's called tether, usdc, etc. imo. Bitcoin is DEFINITELY not cbdc.

[ - ] doginventer 0 points 1 yearJun 14, 2024 05:30:15 ago (+0/-0)

Not yet.
If you think they don’t control all ISPs I think you are mistaken.

[ - ] rzr97 0 points 1 yearJun 14, 2024 13:14:13 ago (+0/-0)

isps have zero to do with cbdcs. bitcoin is unrelated to cbdcs in any way possible. you're hating the wrong thing.

[ - ] doginventer 0 points 1 yearJun 14, 2024 14:15:52 ago (+0/-0)

They might come in handy if you want to access your block chain.

[ - ] rzr97 0 points 1 yearJun 14, 2024 16:51:32 ago (+0/-0)*

You think so? How about ham radio, satellite or just walking an off-chain transaction 1 mile to your neighbors. Maybe dial-up to china? Nahh, none of that is possible is it? I mean if the government wants to stop bitcoin, they can at any point. That last sentence is sarcasm and entirely false. It should let you know immediately that you're plain wrong. At some point people stop caring about what is actually true though and just promote what they WANT to be true. That's you.

See this is the problem when you think you understand something you don't.

You're not going to stop bitcoin. China isn't. The jews aren't. The bankers aren't. The lizard people won't. Nothing will and that should tell you it is NOT a cbdc--central bank digital currency. It's the exact opposite of central and that's why it cannot be stopped. Tick Tock next block.

[ - ] doginventer 0 points 1 yearJun 14, 2024 18:02:29 ago (+0/-0)

It can be stopped at any point it interfaces with the non-virtual; isp, retailer, service provider, appliance, toll booth, customs, govt office, fellow citizen. The pretexts are already being touted; policing illegal content, money laundering, wrong think, racisms, climate denial, terririsims, safeguarding minors etc. But there will doubtless be a quick and easy way to overcome all these difficulties and take part safely, legally, and socially responsibly in the comprehensive and universal blockchain system, perhaps some sort of mark by which you can access all these and more without even having to carry a phone :)

[ - ] rzr97 0 points 1 yearJun 14, 2024 18:06:19 ago (+0/-0)

How'd that work out for anything ever. I see a lot of idiots still drink alcohol. You make it illegal, it only becomes more valuable and stops nothing.
Continue thread

[ - ] FuckShitJesus 1 point 1 yearJun 13, 2024 12:59:27 ago (+1/-0)

Trump is into Scamcoin?

You mean the US dollar FIAT ponzi scheme, run by a foreign-owned Federal Reserve Bank that is not Federal, has no reserves, and is not a bank?

[ - ] RobertJHarsh 1 point 1 yearJun 13, 2024 20:13:15 ago (+1/-0)

What is Scamcoin backed with? Stolen electricity? It is just as much of a fraud as jewbucks.

[ - ] ProudRebel -1 points 1 yearJun 13, 2024 11:05:43 ago (+1/-2)

This statement is tangible evidence he's an idiot.

[ - ] observation1 0 points 1 yearJun 13, 2024 11:24:13 ago (+1/-1)

That is how it works, though.

Btc can be solved by graphics card infrastructure in U.S. or somewhere else.

[ - ] CoronaHoax 1 point 1 yearJun 13, 2024 11:15:52 ago (+1/-0)

I like Mike Rivero’s idea of making a Watt a unit of currency.

[ - ] observation1 1 point 1 yearJun 13, 2024 13:02:23 ago (+1/-0)

Thats actually exactly what btc is

[ - ] CoronaHoax 1 point 1 yearJun 13, 2024 14:14:28 ago (+1/-0)

lol a spent watt.

But you're right it does still incentivize finding faster ways to compute and cheaper ways to get electricity. At least for isolated miners.

[ - ] Indoctrinated_USA 0 points 1 yearJun 13, 2024 11:41:40 ago (+0/-0)

Doesn't really work that way.
Fucking geriatrics...
They repeatedly demonstrate that they have no business in positions of authority.

[ - ] Crackinjokes 1 point 1 yearJun 13, 2024 19:38:03 ago (+1/-0)

Trp doesn't know what he's talking about and is only saying this today because he thinks it polls well for him.

He has no understanding of Bitcoin.