News Bitcoin / Clarity Act Bill

[adrkwan]

Great, could use more pump.

 

[ikeo1]

Great, could use more pump.

Hope you've been using the time to dollar cost average... I've sold a lot of things and converted over to btc/etc/bmnr/sol and built up some bags during that pullback...

Good Luck.. Always good to see some cryptobugs/silverbugs/goldbugs around...

 

[adrkwan]

Hope you've been using the time to dollar cost average... I've sold a lot of things and converted over to btc/etc/bmnr/sol and built up some bags during that pullback...

Good Luck.. Always good to see some cryptobugs/silverbugs/goldbugs around...

Yup, average cost is ~50K slowly rising. I think I started DCA around 20k. Been doing DCA for BTC and more recently ETH weekly for the last five years. Made a UVXY play this week with the shutdown but that has not panned out.

 

[ikeo1]

People don’t believe what the crypto community already knows…

There’s a group in office cutting a lot of things and redistributing funds to the new class that needs to grow to keep numbers looking good in the rest of the economy to mask what’s really happening.

We’re $2.5k away from ATH then blasting through it.

 

[couragewolf]

People don’t believe what the crypto community already knows…

There’s a group in office cutting a lot of things and redistributing funds to the new class that needs to grow to keep numbers looking good in the rest of the economy to mask what’s really happening.

We’re $2.5k away from ATH then blasting through it.

View attachment 99475

Dollar destruction is clearly on the menu. The real question is whether or not Bitcoin has the chops to transition to cryptographic safety in a post quantum world.

RWAs are about to turn the tokenization world on it's head and I don't see anything good coming for the dollar in a post counter trade Eurodollar crossborder settlement era.

Bessent's strategy to pressure consumption of treasuries with stablecoin issuance is I'll concede a mark of financial strategy brilliance, but the market pressures so greatly exceed the demand this can generate in a digital asset world that circumvents US compliance I think will come up quite short.

Normies are not going to have a great decade. Hodlers may or may not depending on their agility. Blackrock ought to make out alright though.

 

[ikeo1]

Dollar destruction is clearly on the menu. The real question is whether or not Bitcoin has the chops to transition to cryptographic safety in a post quantum world.

RWAs are about to turn the tokenization world on it's head and I don't see anything good coming for the dollar in a post counter trade Eurodollar crossborder settlement era.

Bessent's strategy to pressure consumption of treasuries with stablecoin issuance is I'll concede a mark of financial strategy brilliance, but the market pressures so greatly exceed the demand this can generate in a digital asset world that circumvents US compliance I think will come up quite short.

Normies are not going to have a great decade. Hodlers may or may not depending on their agility. Blackrock ought to make out alright though.

I'm pretty sure they'll be a hard fork in the future with quantum resistant encryption but what concerns me about this is the high hopes that central banks will pick it up. I don't think that's practical. BRICS+ is not allowing it which is ironic because now the US is powering the Silk Road for those countries.

I think RWA's and Stable coins will ultimately be the defacto financials rails model.

I agree normies are going to be left behind. This is the main reason I set this section up. Economic disparity is going to go to another level as we create a new class of "trillionaires" in this new global financial system. I'm not sure the Euro is going to be strong enough, but I do think BRICS is planning a gold backed standard currency, but for sure i think most will consolidate into a handful of digital currencies. Cash is already nearly gone and in another generation might be unused.

My main concern is the map of BRICS vs G7. European countries GDP continues to shrink. From an economic perspective and population along with the current isolation, the dollar itself might become the secondary currency outside of the US (gold price increase reflects this). I would imagine from a strategic perspective all the BRICS nations would consolidate their pool of gold into its own backed currency. I see it as they'd have a consortium, where they would be allocated based on their gold holdings a certain amount of gold backed tokens.

This would mean the dollar would devalue globally but domestically keep its value. It's not a good look though. Part of my strategy is to trim profits from crypto and purchase hard assets, aside from real estate.

 

[couragewolf]

I'm pretty sure they'll be a hard fork in the future with quantum resistant encryption but what concerns me about this is the high hopes that central banks will pick it up. I don't think that's practical. BRICS+ is not allowing it which is ironic because now the US is powering the Silk Road for those countries.

I think RWA's and Stable coins will ultimately be the defacto financials rails model.

I agree normies are going to be left behind. This is the main reason I set this section up. Economic disparity is going to go to another level as we create a new class of "trillionaires" in this new global financial system. I'm not sure the Euro is going to be strong enough, but I do think BRICS is planning a gold backed standard currency, but for sure i think most will consolidate into a handful of digital currencies. Cash is already nearly gone and in another generation might be unused.

My main concern is the map of BRICS vs G7. European countries GDP continues to shrink. From an economic perspective and population along with the current isolation, the dollar itself might become the secondary currency outside of the US (gold price increase reflects this). I would imagine from a strategic perspective all the BRICS nations would consolidate their pool of gold into its own backed currency. I see it as they'd have a consortium, where they would be allocated based on their gold holdings a certain amount of gold backed tokens.

This would mean the dollar would devalue globally but domestically keep its value. It's not a good look though. Part of my strategy is to trim profits from crypto and purchase hard assets, aside from real estate.

Hard to disagree:

 

[ikeo1]

Hard to disagree:

Been stacking since the Obama years man. I don’t trust any of them..

 

[couragewolf]

Been stacking since the Obama years man. I don’t trust any of them..

Every single one of them has chosen to embrace the patriot act and extend this economic tragedy they’re all on the same side and it’s not ours.

 

[ikeo1]

Some die hards don’t want to believe what’s happening and everything is terrible in America and doing absolutely great while they get rug pulled with currency devaluation.

One of these days, I hope some of you consider what I’m saying might have some merit. I’m not some dumb this or that.

Do some studying on currency devaluation because it’s accelerating c. This is what you should be upset about, not someone else’s gender choice, that’s a distraction, a side show, that accounts for maybe $5 million a year vs what’s really happening to every single American bank account now. The American USD will be devalued by trillions of dollars in the next few years and some people cheer that this is somehow saving America.

If you think I’m wrong, hopefully you’ll reconsider as the price continues to rise. Eventually this will burst then hard (gold) assets will be the global reserve. Use digital assets to build wealth and hard to store it. This administration is doing something so blatant, it’s hard not to act on it. Not financial advice.

New All time high..




I’m not going to say this is good or bad because it’s going to be great if you are part of it, like life changing great. If you think it’s a scam, just keep in mind who’s passing these crypto bills right now to push this through into law faster than 2A legislation, Medicare, Budgets, etc.

I’m just saying…

Those $1-2,000 stimulus checks reminds me of a time. I think I know where a lot of it is going.. 200 million people x 1000 or 2000 is how much?

 

[ikeo1]

The pullback is real... Averaged in but still accumulating

 

[john_marsten_1873]

If you think it’s a scam, just keep in mind who’s passing these crypto bills right now to push this through into law faster than 2A legislation, Medicare, Budgets, etc.

This is what I’ve been telling folks. Right now, bans on suppressors, for example, could be gone - with the current admin, congress, SCOTUS.

But people were all excited about the not having to pay for the tax stamp.

Politicians need the 2A as a political football just as pharmaceutical’s need patients to pay for therapies rather than cure’s.

 

[couragewolf]

The pullback is real... Averaged in but still accumulating

I haven't checked the price a single time since this thread started, but I sure have clawed back some of my stocks and exchanged some of my treasuries for things I can actually use

 

[compulsivegungrabber]

I'm pretty sure they'll be a hard fork in the future with quantum resistant encryption but what concerns me about this is the high hopes that central banks will pick it up. I don't think that's practical. BRICS+ is not allowing it which is ironic because now the US is powering the Silk Road for those countries.

I think RWA's and Stable coins will ultimately be the defacto financials rails model.

I agree normies are going to be left behind. This is the main reason I set this section up. Economic disparity is going to go to another level as we create a new class of "trillionaires" in this new global financial system. I'm not sure the Euro is going to be strong enough, but I do think BRICS is planning a gold backed standard currency, but for sure i think most will consolidate into a handful of digital currencies. Cash is already nearly gone and in another generation might be unused.

My main concern is the map of BRICS vs G7. European countries GDP continues to shrink. From an economic perspective and population along with the current isolation, the dollar itself might become the secondary currency outside of the US (gold price increase reflects this). I would imagine from a strategic perspective all the BRICS nations would consolidate their pool of gold into its own backed currency. I see it as they'd have a consortium, where they would be allocated based on their gold holdings a certain amount of gold backed tokens.

This would mean the dollar would devalue globally but domestically keep its value. It's not a good look though. Part of my strategy is to trim profits from crypto and purchase hard assets, aside from real estate.

I’m doing all the reading and research my addle brain can take, and trying to make some informed decisions. But at what point do you think the “at the expense of Main Street” will reach the point where I can’t walk out the door without being shot in the back of the head for a coffee and a crumb cake?

 

[ikeo1]

I’m doing all the reading and research my addle brain can take, and trying to make some informed decisions. But at what point do you think the “at the expense of Main Street” will reach the point where I can’t walk out the door without being shot in the back of the head for a coffee and a crumb cake?

That can happen anywhere for anything unfortunately. Sometimes for a simple gold chain…

 

[couragewolf]

That can happen anywhere for anything unfortunately. Sometimes for a simple gold chain…

I'm pivoting a good chunk of crypto to zcash I think.

 

[ikeo1]

Clarity Act Fails to pass again… Democrats are losing support after this for sure. They’re acting instead of doing and acting as in theatrics.

 

[john_marsten_1873]

I know there was disagreement over the conflict of interest measures, making sure the bill was sufficient enough to prevent presidents from engaging as such. Was that resolved?

What was the vote tally?

 

[john_marsten_1873]

I know there was disagreement over the conflict of interest measures, making sure the bill was sufficient enough to prevent presidents from engaging as such. Was that resolved?

What was the vote tally?

Clarity Act Fails to pass again… Democrats are losing support after this for sure. They’re acting instead of doing and acting as in theatrics.

So this was a cloture vote that needed 60 to bring for formal consideration. 4 Republicans actually voted no.

There’s some other things but it looks like the Democrat opposition was because it still left loopholes for the president and/or family members to engage in conflict-of-interest trades.

That’s my biggest issue as well so I wouldn’t have wanted this version to pass.

 

[ikeo1]

So this was a cloture vote that needed 60 to bring for formal consideration. 4 Republicans actually voted no.

There’s some other things but it looks like the Democrat opposition was because it still left loopholes for the president and/or family members to engage in conflict-of-interest trades.

That’s my biggest issue as well so I wouldn’t have wanted this version to pass.

I mean so what if the POTUS and his family want to do some trades on the side without oversight. im sure people would be fine if Democrats did it too right?