Tuesday, July 30, 2024

How the Crypto Industry Is Buying Political Support with 202 Million U.S. Dollars

Judd Legum, Popular Information: How the crypto industry is buying political support with 202 million U.S. dollars -- 15 years after Bitcoin was created, there are still few legitimate use cases. Today, Bitcoin and other cryptocurrencies are primarily used for financial speculation and to facilitate organized crime.

Posted by retort at 01:36 PM | 13 COMMENTS | permalink

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Of course Dotard would come out in favor of a form of payment that cannot be tracked, and has no actual value. Crypto has always seemed like a scam to me, much like Dotard's NFTs. What I am concerned about is that outside organizations and countries can make illegal contributions to the campaign and they cannot be tracked, just like countries could put money into a president's pocket without anyone knowing. This is a concerning development when one candidate has the morals of a serial pedophile.

#1 | Posted by _Gunslinger_ at 2024-07-30 03:12 PM

How do you get the entire world on one currency?

Make it sound like a cool rebellion against the federal reserve and call it "crypto currency".

It's a slow and steady transition. But it is happening.

#2 | Posted by ClownShack at 2024-07-30 03:51 PM

#1 | Posted by _Gunslinger_

Sort of a Pyramid scheme to me but it has not imploded. Not sure what a Bitcoin goes for currently but the last time I looked it was about 65k.

#3 | Posted by GalaxiePete at 2024-07-30 04:48 PM

a form of payment that cannot be tracked,

It's extremely trackable the blockchain holds a record of every transaction. The addresses are somewhat anonymous, but if it was truly anonymous the justice department wouldn't hold hundreds of millions worth of seized bitcoin.

#4 | Posted by TaoWarrior at 2024-07-30 05:20 PM

Germany has sold off their seized bitcoin over the last few weeks, the U.S. (which has a much larger holding) has held most of their seized bitcoin.

It is interesting to observe how different countries handle their assets under management.

#5 | Posted by GOnoles92 at 2024-07-30 05:43 PM

As I understand it and I am probably wrong but isn't bitcoin limited to around 24 million coins because the blockchain has limited itself out? A few years ago I tried to mine but stuff got in the way and missed out.

#6 | Posted by shoeless at 2024-07-30 06:27 PM

@#1 ... Of course Dotard would come out in favor of a form of payment that cannot be tracked ...

Bitcoin has shown that it can be tracked.

But the important thing here is that fmr Pres Trump went from anti-crypto to all-in for crypto.

Donald Trump calls Bitcoin 'a scam against the dollar' (2021)
www.bbc.com

- to -

Donald Trump Makes Five Major Pledges to Cryptocurrency Industry (July 27, 2024)
www.newsweek.com

Why would he make such a change?

Simple, donations.

Trump Campaign Surges with $3 Million in Crypto Donations in Q2 2024
finance.yahoo.com


The wealthy purchasing fmr Pres Trump.

#7 | Posted by LampLighter at 2024-07-30 06:48 PM

@#7 ... The wealthy purchasing fmr Pres Trump. ...

More examples...

Trump's TikTok ban reversal comes after meeting megadonor who has stake in TikTok
abcnews.go.com

Trump defends Bud Light ahead of fundraiser hosted by Anheuser-Busch lobbyist
ny1.com

Between Attacks on Electric Cars, Trump Says They're Incredible'
www.nytimes.com

Elon Musk Has Said He Is Committing Around $45 Million a Month to a New Pro-Trump Super PAC
www.wsj.com


#8 | Posted by LampLighter at 2024-07-30 07:53 PM

That Fat Turd is up for sale. Same way he got Melanoma.

#9 | Posted by LegallyYourDead at 2024-07-30 08:31 PM

@#9 ... That Fat Turd is up for sale. ...

Yup.

As i have noted before.

Fmr Pres Trump seems to be a transactional person. With those transactions benefiting him personally, not the Country.


Selling the Oval Office to the highest bidder, so to speak.


#10 | Posted by LampLighter at 2024-07-30 11:32 PM

The pretense is that Bitcoin is a commodity, like artwork, so if people want to invest, nobody's business but theirs. It is obvious to me Crypto and the digital wealth industry is a danger to the dollar. China had the right idea, it outlawed all of that nonsense.

#11 | Posted by Hughmass at 2024-07-31 06:22 AM

Not sure what a Bitcoin goes for currently but the last time I looked it was about 65k.

#3 | Posted by GalaxiePete at 2024-07-30 04:48 PM | Reply | Flag:

$66,000. One year ago it was $29,000.

As long as it stays this volatile it will never be accepted as a currency.

Imagine selling your house for 10 bitcoin for $660,000 and a month later it could be worth $700,000 or $300,000.

Then throw in all the fraud that is rampant in the industry.

www.investopedia.com

#12 | Posted by Nixon at 2024-07-31 08:29 AM

I'm really looking forward to the day this pyramid scheme collapses and the crypto-bros become the crypto-brokes.

#13 | Posted by DarkVader at 2024-07-31 12:27 PM

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