Trump Names Cryptocurrencies for 'Digital Asset Stockpile' in Social Media Post (cnbc.com) 109
Despite a January announcement that America would explore the idea of a national digital asset stockpile, the exact cryptocurrecies weren't specified. Today on social media the president posted that it would include bitcoin, ether, XRP, Solana's SOL token and Cardano's ADA, reports CNBC — prompting a Sunday rally in cryptocurrencies trading.
XRP surged 33% after the announcement while the token tied to Solana jumped 22%. Cardano's coin soared more than 60%. Bitcoin rose 10% to $94,425.29, after dipping to a three-month low under $80,000 on Friday. Ether, which has suffered some of the biggest losses in crypto year-to-date, gained 12%... This is the first time Trump has specified his support for a crypto "reserve" versus a "stockpile." While the former assumes actively buying crypto in regular installments, a stockpile would simply not sell any of the crypto currently held by the U.S. government.
"The total cryptocurrency market has risen about 10%," reports Reuters, "or more than $300 billion, in the hours since Trump's announcement, according to CoinGecko, a cryptocurrency data and analysis company."
"A U.S. Crypto Reserve will elevate this critical industry..." the president posted, promising to "make sure the U.S. is the Crypto Capital of the World," reports The Hill: His announcement comes just after the White House announced it would be welcoming cryptocurrency industry professionals on March 7 in a first-of-its-kind summit... It's unclear what exactly Trump's crypto reserve would look like, and while he previously dismissed crypto as a scam, he's embraced the industry throughout his most recent campaign.
"The total cryptocurrency market has risen about 10%," reports Reuters, "or more than $300 billion, in the hours since Trump's announcement, according to CoinGecko, a cryptocurrency data and analysis company."
"A U.S. Crypto Reserve will elevate this critical industry..." the president posted, promising to "make sure the U.S. is the Crypto Capital of the World," reports The Hill: His announcement comes just after the White House announced it would be welcoming cryptocurrency industry professionals on March 7 in a first-of-its-kind summit... It's unclear what exactly Trump's crypto reserve would look like, and while he previously dismissed crypto as a scam, he's embraced the industry throughout his most recent campaign.
Best president ever (Score:5, Insightful)
Real good use of our tax dollars, thanks Donald.
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Bah. You're just envious you're not getting rich from the scam.
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Bah. You're just envious you're not getting rich from the scam.
If you could get people to answer honestly, I'm sure most folks would be happy with some ethically gray easy money. Thing is, in addition to having a somewhat flexible sense of morality, you also have to be part of the inside circle (and also have some extra money kicking around to "invest", lest the rent go unpaid if things go wrong). Without insider knowledge, by the time the news of the "pump" has broken, we're already in the "dump" stage and the people in on the scam have made their money. The people
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I think there was an episode of Malcolm in the Middle or some similar show where a teacher got scammed. The kid told him about the scam and said he should sell, but then the teacher said that he'd only be screwing somebody else.
That level of morality is shat upon by Musk. He'd call it empathetic suicide or something.
Hey, ChatGPT says it is Malcolm in the Middle. What a useful too, to find episodes of old shows. Totally worth destroying the world. I didn't watch the whole episode. I just caught like the
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Asking ChatGPT (assuming 4o) took maybe the energy of 15-30 seconds of video gaming. Such "destroying the world" :
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A US "crypto reserve" is really the final stage of the zero-sum game. Every person who comes later bails out those who came earlier, a "greater fool". The US government is the ultimate "greater fool" possible.
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Bah. You're just envious you're not getting rich from the scam.
Bah. You're just a fucking idiot. Some of us want our government to remain solvent.
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It's cute how you still think they're your tax dollars, rather than his tax dollars.
If Trump is backing this (Score:5, Insightful)
You know it will fail [time.com]. And that isn't the all inclusive list. There are other business failures he is directly responsible for. When he jumps in, it's time to jump out.
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Does Trump actually have any business successes that are not based on fraud? With his handling of the "negotiations" with Putin, were he essentially gave everything away without any advantages, I am beginning to think Trump does not know how to make deals. Like, at all.
Re:If Trump is backing this (Score:4, Insightful)
He had a successful TV show.
He's a Russian asset. What else is there to say?
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"He had a successful TV show."
No, he did not. Trump was an actor on someone else's successful TV show.
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Trump starred in and co-produced the show. I think that qualifies as his show to a reasonable extent.
The point being, a shitty but successful show is his only successful non-con business venture.
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He had a successful TV show.
Mark Burnett had a successful TV show.
Trump just showed up for eight hours per season and recorded his segments.
Re: If Trump is backing this (Score:4, Interesting)
No conspiracy here. Why was Russian state media at the Whitehouse? https://www.politico.com/news/... [politico.com]
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He didn't get caught sneaking in. He was let in after presenting his credentials like everyone else. You phrase it like he ducked behind a planter and scurried past the guards. They were checking press passes closely enough to keep AP and Reuters out, you really think they weren't checking credentials?
"TASS was not on the approved list of media for today’s pool," a White House official told CNN in a statement. "As soon as we realized other people knew he was from TASS and we got caught , he was e
Re: If Trump is backing this (Score:2)
How do you sneak into the Oval Office?
The white house just took over press pool admittance. They let anybody in? Lying to get access to the president, someone would be arrested right?
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"If he is a Russian asset, then there is also plausibility that China have several democrats as Chinese assets"
False. You not liking a plausible claim is not justification to make an unsubstantiated one. There is plenty of reason to believe Trump is a Russian asset, what's your evidence for these "several democrats"?
Usually, partisan hacks try to hide their lies. Not you.
"Do we have European Union assets? Can African countries have foreign assets in America? Did the Saudis have Bush as their foreign asse
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Both parties the same? Funny, I must've missed when Biden ran his crypto scam.
Plus, since I've got a dog in that whole culture war fight, yes there's absolutely a difference when one party is using their legislative power to punch down at sexual minorities. I'm fucking tired of hearing "Oh, you're just gay, the Republicans are cool with that now." No, they aren't, they're still actively trying to overturn Obergefell v. Hodges. [nbcnews.com]
Now don't get me wrong, I'm mad at the Democrats too. We're in this mess yet a
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I just watched a video of that Schriver guy and... Damn if that's not a guy trying to strip gay rights in order to deny and hide his own sexuality.
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No conspiracy theory. He went to Russia in 1987. When he came back, he paid for full page ads that attacked NATO, in several major US papers. He's an asset.
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Anyone who lived through the cold war should know that it was SOP for the Eastern services to create kompromat on VIP visitors to their countries. Given Donny's sexual apatite coming by this should have been as easy a taking candy from a baby.
Then of course there's now two former KGB agents on the record who claim that our Donnie boy was recruited back in the eighties.
This article, which is highly skeptical of the claim, reports on these on the record statements by the former KGB men.
https://www.indiatoday [indiatoday.in]
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Why let your crazy conspiracy stop there?
If he is a Russian asset, then there is also plausibility that China have several democrats as Chinese assets. Do we have European Union assets? Can African countries have foreign assets in America? Did the Saudis have Bush as their foreign asset?
I doubt Trump is directly compromised and works with a Russian handler. However, he's easily manipulated (which is why there was no 2nd debate with Harris), and Putin has been able to push him in ways favorable to Russia. So, Trump is a Russian asset in that sense.
Is there at least one Democrat that works directly with Russian handlers? Almost certain so. Are any of them President of the United States? The mathematical probably is zero right now and likely zero considering all past presidents.
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However, he's easily manipulated (which is why there was no 2nd debate with Harris),
How does being manipulated relate to that? Conventional wisdom is that the party ahead in the polls stands to lose the most (and gain the least) from a debate.
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Trump was trying to make us feel sympathy for Putin the other day. He was ranting about how poor old Putin was accused of election interference by helping Trump, but it turned out to be "untrue" (it was true, Mueller said there was solid evidence of it).
Clearly Trump sees a reflection of himself in Putin, and admires the man. That is extremely dangerous.
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He only thinks he's a master dealmaker because he ran a big business that pushed a lot of little businesses around. He never had to negotiate a deal where he didn't have an overwhelming power advantage before becoming President.
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That makes a lot of sense. So essentially the only thing Trump is good at is being a bully. Well, he just demonstrated that publicly.
But then, he does not really seem to be good at being a bully either. Two people against one, the one not a native speaker, the two on their home territory, the wohle thing probably planned and the intended victim still did not cower.
Re: If Trump is backing this (Score:2)
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With his handling of the "negotiations" with Putin, were he essentially gave everything away without any advantages
flashing news: the us is losing yet another (proxy) war (the nth in a row, btw). trump just didn't want to be the loser, so he blames everything on biden and shuts it down. this operation has been run under every president since clinton, biden clearly set it into overdrive but trump himself provided javelins so ukranians could bomb other ukranians in donbas in 2017/18. if it had worked and russia had been crippled/toppled/fragmented/whatever he wouldn't be asking for a deal, but a medal. he won't get any ad
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If he plans to use taxpayer money (or most likely, debt spending) to buy cryptocurrency, that technically can't fail. It's a dumb idea and a waste of money, but if the goal is to have the US government become a cryptocurrency bag holder, that's an easy achievement to unlock.
Cryptocurrency itself probably isn't going away anytime soon. Its value certainly could (and probably will) crater, but there's too many true believers (and criminals) for us to be lucky enough for it to ever go away completely. Worst
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It's always a game of 3D chess with these folks.
With Trump it's more like checkers. And he ignores the rules. And he keeps tipping over the board.
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To be fair his crypto projects have so far been wildly successful.
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He's just trying to obliquely pump his own shitcoins. Like everything else in which el Bunko gets involved, look for the money trail into his pocket. He wants to be as wealthy as Elmo.
Good (Score:5, Funny)
I'm sure this will bring the cost of eggs down!
Re: Good (Score:1)
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I fucking hate PETA. Bunch of bleeding heart vegans, ultimately bent on causing the extinction of every domesticated animal species (it's true, look it up).
My brother raises chickens. They literally do not give a single care in the world over where they're gonna pop out an egg. Seriously, they lay them everywhere. You'd have to be a member of some brainwashed cult to come to the conclusion that there's any sort of ethical dilemma in eating something that the chickens don't even notice is gone.
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On my father-in-law's farm, on more than one occasion I've seen a cow hide her calf and then forget where they left it... although mama cow does get upset when that happens, unlike the chickens and their eggs.
That was apropos of nothing, in case anyone is wondering.
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Everyone on the internet gets their eggs from someone's backyard farm.
Even well-loved backyard chickens aren't good enough for PETA. Technically, they'll claim that they're in favor of chickens being pets if they're "rescued", but don't you dare breed any more of them.
That's the problem with PETA. The concept of ethical treatment of animals sounds like a completely reasonable thing and most people assume they're just against things like big factory farms. Well, they are, but if PETA ever had their way, ending the practice of keeping backyard chickens is also one of their g
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Seriously, they lay them everywhere.
But that's horseshit.
Had chickens for years when I was a young adult.
They lay in their boxes- if they have them, and they are clean.
They care very much where they lay their eggs.
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That sounds like the kind of answer you'd have gotten from Google. One of my childhood friends grew up on a farm and when I'd hang out with him we'd regularly find eggs just randomly scattered over his folks' property. My brother has a proper coop and he keeps it clean, but the chickens free range over his rather large multi-acre land and yup, eggs frequently turn up where you'd least expect them.
If your story isn't a fabrication, it's likely you had some exceptionally well-trained hens.
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I mean, it's one egg, Michael. How much could it cost? 10 bitcoins?
of course it will on Mon and maybe Thursday night (Score:2)
No surprise (Score:4, Insightful)
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The bribes are out in the open:
"SEC halts fraud prosecution of Chinese national who sent Trump millions"
https://popular.info/p/breakin... [popular.info]
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It sounds like you think it was a bribe in an illegal sense (and I definitely do).
I agree that there's unlikely to be proof and that even if there is, I doubt it'll be investigated.
But that doesn't mean it wasn't an illegal bribe, just that it's not provable.
Re: No surprise (Score:2)
schrodinger's bribe
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Even if they're not bribes they're at least violations of the emoluments clause, although the legal system is too slow to bring a case on that against a President within a single term as we saw last time. Even if he does stay in office for more than 4 years so that the case has time to proceed against him, the immunity granted to him by the Supreme Court would make such a case pointless, just as with any bribery case presumably.
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Transactions on Solana are traceable. It is not a privacy chain.
President's kids insider trading (Score:5, Interesting)
https://x.com/BitcoinNewsCom/status/1896231949972431182
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How much owned? (Score:4, Insightful)
Do we want to take an guesses how much President Musk and Trump invested in these before making the announcement?
Re:How much owned? (Score:4, Insightful)
Trick question, nobody will ever know if they launder it correctly.
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Do we want to take an guesses how much President Musk and Trump invested in these before making the announcement?
Let me try: nothing.
Elon doesn't need the money and Trump never spends his own.
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Elon doesn't need the money and Trump never spends his own.
Is that why Elon fought so hard to get his $46 billion payday from Tesla. HE doesn't need it, but he still wants it. And Trump will surely use any money he can get his hands on, especially for a grift like this one.
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Elon doesn't need the money
How in the fuck do people get as stupid as you?
Help me fucking understand, please.
Do you think that dude acquired his net worth by not trying to accrue more money long after he had enough?
Fucking hell. Where do you lobotomy patients come from?
So the felon is preparing to pump? (Score:1)
No surprise there.
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That was the pump. Trump's buddies and whoever else was in on this scheme already bought in before the announcement. We're now in the "dump" stage, but the future bag holders don't know it yet.
I was wrong (Score:2)
fjo3 was right :-(
https://slashdot.org/comments.... [slashdot.org]
Goose meet gander. (Score:2)
So happy Republicans have finally listened to their own complaints about Democrats and got the government to stop picking winners and losers. /s
The Crypto Stockpile Experiment (CSE) (Score:2)
This would actually be an interesting experiment. All crypto that the US seizes is being held for a very long time. Two things ought to happen:
(1) the value at seizure is recorded and tracked from thereon out. The data are publicly available.
(2) We all watch how long it would take to steal any of these assets. Think if it as a test portfolio. Except with real crypto (lol, "real" crypto).
Benefits: long-term data on crypto in a real-life scenario, without really harming anybody (see El Salvador!). And an ongo
Sound investment /s (Score:2)
Stockpiling vast national funds in things whose values can fluctuate wildly and be easily stolen -- oh, wait ...
Incomplete (Score:5, Funny)
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Too funny! (Score:2)
Bitcoin rose 10% to $94,425.29
LOL! Hadn't looked in a while, but burst out laughing when I read that! The fact it rose 10% to $94K, well below that magical $100K+ it used to be!
This whole thing wreaks of manipulation.
Pump and dump (Score:2)
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Even if the whole fucking thing burns down, at least they'll have owned the libs.
Free (Score:3)
Grifter in Chief (Score:2)
Here's a perfectly timed leveraged trade (Score:2)
Whoever did this knew what was coming.
https://x.com/BitcoinNewsCom/s... [x.com]
Didn't hold for a lot of the upward movement, but the entry timing was impeccable.
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Whoever did this knew what was coming.
https://x.com/BitcoinNewsCom/s... [x.com]
I find it hilarious how it's put as a surprise/question whether it happened:
As if it was some sort of mystery instead of a knowable fact.
And so the cryptosystem ... (Score:1)
... keeps destroying the ecosystem.
just another way of giving money to the rich (Score:2)