Then you can easily attend DEF Con 28 remotely.
782 karma · joined July 18, 2013
Then you can easily attend DEF Con 28 remotely.
US Congress -> Sells out -> Zoom -> Sells out -> China
Here is a case of the banking industry/WallStreet selling out the American citizens. Congress won't hold them accountable, because congress sells out American citizens.
Crypto going mainstream will happen. It will happen when debit cards to crypto accounts will pay merchants, and the merchants receive USD. AND when the rates are tiny.
* Money printing to the privilege class (investors), creates permanent theft to citizens going forward, for these two reasons: 1) Salaries don't go up with inflation for low income and middle class. Only Gold-color workers.
2) That money going to privilege class has them bid up equities/stocks (and other) asset classes. Workers with 401k get far smaller percent of the stock market. Instead of 10% YoY return from the stock market for their retirement, they get a lower percentage.
2008 had US Dollars at $800b (monetary base). 5 years later, it was $3.6 trillion. That is 450% as many USDollars as before. That money printed $2.8 trillion went to the privilege class. Workers adding to their 401ks get robbed for the rest of their life, on lower growth.Here is where SEC has grandfathered in ETH and BTC specifically: > The SEC has declared that Ethereum and its digital coin ether, are not securities today, during the Yahoo Finance summit. https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not...
There will come a time when the fact that Bitcoin won't EVER "print money" or expand the money supply is a HUGE value.
You say the currency supply "fluctuates". In the future, with 500% increases in US Dollar, the US Dollar can greatly drop in value. Over time, the fact that people know bitcoin can't expand the money supply is VERY VERY powerful.
* "Sound money" groups have one set of wishes of what will happen to the US Dollar
* Some parts of the population want money printing to pay for services.
* WallStreet likes money printing US Dollars to bail them out.
* Everyone has an agenda for US Dollars.
Here is what happens to bitcoin:
* Bitcoin (and Ethereum) were given a historic strategic value by the US Gov because they get grand fathered in that they are not required to have KYC & AML. Future crypto tokens will, and they will be held back.
* Bitcoin is where citizens can turn to, when money printing doesn't match their agenda. What is amazing, is that they don't need to get approval from the full citizen base. This is great for citizens that are hurt by money printing.
Right now, it is for speculation for investors. But the investors are investing towards more usage as a currency in the future.
In Ben Bernanke's book, it showed how the Fed used citizen's money to buy all mortgages that collapsed (that AIG insuranced) for FULL PRICE. This means their fraudulant peak. He paid 100% of the full price. That way the entire supply chain of mortgage holders (MBSs, CDOs, Synthetic CDOs) would never lose a penny.
We can cringe 20 years out about ECC, RSA and AES.
Just never bail them out, and let them deal with their problems.
US congress men and women sell out on the key areas where crony capitalists need their laws changed.