I view crypto the same way i view Argentina. Getting people to put real dollars in crypto so he can syphon it out then devalue the crypto to cover it up.
Comment on Trump team says it won't cave if stocks tank in U.S.-China trade war
givesomefucks@lemmy.world 2 days agoA little of that, and a little of wanting to drive people to crypto which boosts the price.
As much as trump hates taxes, he’s definitely invested heavily in crypto
But the point remains:
He’s not just blindly breaking stuff for the sake of breaking shit.
It’s almost always a flawed logic, but there is a logic there. And it’s always easier to fight what we understand it.
UsefulInfoPlz@lemmy.world 2 days ago
Bronzebeard@lemmy.zip 2 days ago
Crypto is correlated to the stock market. When it crashes, crypto crashes even more. The only reason it spiked when the shut down started is people thought the US was going to devalue it’s currency to pay for shit (which has been happening anyway since he took office)
givesomefucks@lemmy.world 2 days ago
The only correlation between crypto and “value” is what someone will pay for it.
I’m talking about a crash, not a dip.
An actual crash will 100% make more people turn to crypto, which will drive the price up. Enriching people who already own it.
Likely creating a bubble when the original holders sell, which the profits would then be used to buy into the crashed stock market, or gobble up real estate when everyone goes thru foreclosures when pensions/retirement funds get wiped from that actual stock market crash.
Bronzebeard@lemmy.zip 2 days ago
No. They won’t. People flee more speculative assets towards more stable ones during crashes. Not the other way around.
Nothing about crypto has become less speculative in recent years. And people aren’t going to increasingly pile into crypto after it plummets 90% when the stock market crashes. That goes against all human nature