• skozzii@lemmy.ca
      11·
      2 days ago

      Don’t forget a side of market manipulation.

      Crypto can be manipulated hard with a huge amount of capital, so now he is just using the US tax dollars to manipulate crypto currencies.

      Yes this is the world we live in.

    • ArtVandelay@lemmy.worldEnglish
      2·
      2 days ago

      Can someone explain the how to a stupid person like me? I fully believe it but I want to know how it works

      • Airowird@lemm.ee
        6·
        2 days ago
        1. Buy coins privately
        2. Force government to buy tons of coins, making prices go up
        3. Sell personal coins, dropping prices and make government spend even more
        4. Repeat as needed
  • RamblingPanda@lemmynsfw.com
    381·
    2 days ago

    You laugh now, but once war breaks out and all currencies break down, you’ll be happy to have a… wait, absolutely worthless nothing on hard disks?

    How many of those strategic digital assets will be some sort of Trump coin?

  • MedicsOfAnarchy@lemmy.world
    20·
    2 days ago

    So let me guess. Coming on the heels of, “Elon Musk should check Fort Knox to see if the gold is really there”, the next step would be a 1:1 “trade” of bitcoin for actual, tangible gold - which will be hidden away in a certain Mar-a-Lago basement. Remember you read it here first.

    • hansolo@lemm.eeEnglish
      20·
      2 days ago

      Not quite. The EO says the reserve can only be added to by seizures from crimes and civil forfeiture. They can’t buy to add to it. And that it can be sold primarily for finding law enforcement.

      Buuuuuuut, you know what that means? The ultra shady civil forfeiture practice that cops love just got a little more spicy! Any wallet a cop can access becomes theirs!

  • TommySoda@lemmy.world
    37·
    2 days ago

    And immediately after it took a nose dive, recovered slightly, and then started trending down like it has been for the last two months. Super strategic.

  • JohnDClay@sh.itjust.works
    19·
    2 days ago

    I thought the draw of crypto was that it wasn’t backed by a central government? What’s the point if the government has price manipulation power anyway?

    • knightly the Sneptaur@pawb.social
      2·
      2 days ago

      Government regulation was always going to be inevitable when crypto is treated as an asset class. The folks who designed it were aware of this and correctly assumed they’d be able to pull the rug out before the regulation came into effect. Now it’s nothing more than another tradable commodity.

  • sepi@piefed.socialEnglish
    15·
    2 days ago

    They should call trump the Supertanker: everything he touches tanks. BTC is gonna be worth as much as trump steaks in a year.

    • Asafum@feddit.nl
      6·
      2 days ago

      It will have served its purpose by then. Scumbag & Co. will have already sold off their holdings that they acquired before this scam took affect, literally stealing our tax money.

      This is literally just them forcing us to pump the price of BTC so they can sell high and then who fucking cares what happens next, they already got theirs…

    • theneverfox@pawb.socialEnglish
      10·
      2 days ago

      What do you mean? No one stole it. A rogue DEI hire deleted the wallet keys, it happened right in front of me. I can’t give out their name, justice will be done though, but I can tell you they we’re very woke, definitely DEI, and they just tried to destroy my beautiful economy

      -Trump on truth social in a month before he’s seen dropping a wallet fob and explaining that this is his wallet, no we can’t know the address, but he’s a billionaire and why would he steal money? But even if he did, it would’ve been the least America could do for such a great president. But he didn’t steal it, he’s a billionaire