Bitcoin surges to record high as traders rally around Trump victory

A Ponzi scheme benefits from a elected guy who was selling bibles to buy votes!!???... How weird!

Jesus, what a truly fu@@ed up world.

Don't worry folks CBDC will take care of everything.

maxxcool7421 said:

A Ponzi scheme benefits from a elected guy who was selling bibles to buy votes!!???... How weird!

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Silly. We're talking about bitcoin, not a Ponzi scheme.

Trump switching from anti-crypto to crypto-champion is like when your boomer uncle discovers NFTs and starts explaining blockchain at Thanksgiving. But hey, if it means tax breaks for hodlers, I’ll bite my tongue.

At least it's not anything you can profitably mine on gaming cards right?
Don't particularly fancy a repeat of the great gaming card draught during the last cryptoboom. Didn't help that my card crapped out during it forcing me to greatly overpay for a replacement.

Graphics cards haven't really recovered pricewise from that fiasco either. If we get crypto demand on top of AI demand the gaming segment might be dead. APUs would be the only viable option for most.

maxxcool7421 said:

A Ponzi scheme benefits from a elected guy who was selling bibles to buy votes!!???... How weird!

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Apparently you don't understand that "buying votes" requires *paying* the voter, not accepting a contribution from them. As a prototypical example of vote buying, you have these statements:

"Vote for me and I'll give you $25,000 to buy a house!"
"Vote for me and I'll forgive your student loans!"
"Vote for me and I'll give you $20K to start a business! (if you're black)"

scavengerspc said:

Silly. We're talking about bitcoin, not a Ponzi scheme.

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There are individuals out there who (falsely) consider Bitcoin and other cryptos as value-generating investments. From that perspective, they are indeed Ponzi schemes -- high returns for the initial investors are financed through later speculators, who themselves at some point will constitute a final rung which loses money when the music stops playing.

Of course, in reality crypto should merely be considered a value store and alternate currency (hence the name). In that light, there's no 'scheme' at all ... though the actual benefits thereof are certainly debateable.

airbornex said:

Trump switching from anti-crypto to crypto-champion is like when your boomer uncle discovers NFTs and starts explaining blockchain at Thanksgiving. But hey, if it means tax breaks for hodlers, I’ll bite my tongue.

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Some of the outrageous stuff he was selling was only meant for hiding donations . Happens in lots of countries , fun raises selling say questionable art work

Endymio said:

Apparently you don't understand that "buying votes" requires *paying* the voter, not accepting a contribution from them. As a prototypical example of vote buying, you have these statements:

"Vote for me and I'll give you $25,000 to buy a house!"
"Vote for me and I'll forgive your student loans!"
"Vote for me and I'll give you $20K to start a business! (if you're black)"

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That's all fine, every party does it , practically every country , some stuff as an easy monetary value, other vote buying stuff may have a more nebulous transactional value, but will still be borne by the tax payer. Eg Trump promises huge infrastructure projects coming to you home state, Or getting rid of your gardener Pedro. These are all out in the open and people can vote, Which they did
See my comment about Art, could be NFT cards with images on them, or worthless Stock. Lots of politician's around the world use such tactic's to hide donor , or the country of origin . In NZ people not happy sometimes with Chinese businessmen donations
Anyway interesting times, the well off here in TS. American or not , educated , creatives etc no matter their vote will carry on just fine, with all the niceties of life and the lives of the have nots, infirmed in our countries lives may or may not get better - probably more important is countries overall system than whether voted red or blue

BTC always was a good money maker for a smart player, it's up to individuals if they want to play. I strongly think a lot of the cylindrical movements are not all by chance , given some very big players pumping , dumping and restocking to repeat

Axeia said:

At least it's not anything you can profitably mine on gaming cards right?
Don't particularly fancy a repeat of the great gaming card draught during the last cryptoboom. Didn't help that my card crapped out during it forcing me to greatly overpay for a replacement.

Graphics cards haven't really recovered pricewise from that fiasco either. If we get crypto demand on top of AI demand the gaming segment might be dead. APUs would be the only viable option for most.

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GPU mining is pretty much dead. The reason prices are still somewhat higher than what they used to be pre-mining is because price drops don't benefit greedy companies.

kiwigraeme said:

Some of the outrageous stuff he was selling was only meant for hiding donations .

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No. Whether an item is sold or not in the process, any dollar going into a campaign is still reported.

kiwigraeme said:

Happens in lots of countries , fun raises selling say questionable art work

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You mean like Hunter selling his crayon doodles for $500K a pop to anonymous Chinese purchasers?

kiwigraeme said:

vote buying stuff may have a more nebulous transactional value, but will still be borne by the tax payer. Eg Trump promises huge infrastructure projects coming to you home state, Or getting rid of your gardener Pedro.

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So you're claiming that enforcing federal immigration law is "vote buying"?

As for infrastructure projects, those are not direct cash payments to individuals. Surely you're able to see the difference between telling voters, "I'm going to enact good policies" vs. "I'm going to write you a check".

The crypto market is pretty grim, really. Bitcoin is the only crypto still growing in value, even if by extremely small margins compared to what it used to be. The 100k mark was predicted in 2021, but here we are in late 2024 and 75k looks amazing for some people. But how about altcoins? Well, Ethereum never got back to 4k, Solana never reached 260 bucks again and except for some pump&dump meme coins all others got back to "default", what I would call a minimum value still held by initial investors. I mean just look at any chart, it is flat lining hard. Trump, the reluctant, but now ecstatic crypto lover won together with crypro guru Musk and what do you know, all moonboys are frothing at the mouth. But unless there's an election every month I don't see this going too far. But then the cycle repeats, a controlled drop up until the next "big" news, maybe like a picture of Musk taking a bath with a dog or Trump eating a cake with a B letter on it.

Endymio said:

No. Whether an item is sold or not in the process, any dollar going into a campaign is still reported.


You mean like Hunter selling his crayon doodles for $500K a pop to anonymous Chinese purchasers?


So you're claiming that enforcing federal immigration law is "vote buying"?

As for infrastructure projects, those are not direct cash payments to individuals. Surely you're able to see the difference between telling voters, "I'm going to enact good policies" vs. "I'm going to write you a check".

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as I said, they all do it, and what is the problem if open about such policies.
Repeat they ALL do it, not just the side you dislike. Never seen an election in NZ ever without some vote buying

Don't know about Hunters doodle - that may be a different issue , grifting , really whole Trump family grifted last term Ivanka/China Indonesia/Trump one of the sons Saudi Arabia etc etc

USA is a bit of a banana republic - we all know that. no matter which party you support
Trump may did or maybe didn't take 10 million from Egypt in cash illegally for election support. With a huge release of frozen funds immediately Trump came to power, But investigation was closed down by Trump, Trump never had to show bank statements, We do know 10 million cash was paid to someone. Like I said USA is somewhat a banana republic - the whole cult of allegiance to the flag is running joke to me as they are the most stupid electorate in the world , social backup is evil, more than 2 weeks mandated holiday is communism and even more evil - they are proud of that stuff. yet we get endless best sellers of self help books to handle this crap. To think all those hippies who dropped out lived their lives and went on to start successful businesses. Seems USA has lost something. Saw it in the late 80s and early 90s so many young people caught up in dot,com boom,afraid to miss out of 2 SUVs in the drive, saw only a fraction of young people doing road trips, living their lives. Money is the GOD there, the price of gasoline is everything .
back to BTC - I stated easy to make good coin timing your plays, I have chosen not to, like I chose not to say in NZ and become really rich in property, as they is a pointless life for me

Whether left or right their democracy is broken, can you think of after democracy in the western world with such divides - ignoring Germany still resolving east and west
Even the split women to men vote is fascinating, never seen such a difference in other countries

It's a problem in most democracy, politicians often know best policy but will NEVER do it. as they won't win or they will lose next time around. Simple stupid emotional appeals to populous.

Most countries stumble to a better future . not sure about The USA, the system is so entrenched and they act like the founding fathers were like Moses ,the burning bush and the 10 commandments . John Locke must of had divine inspiration ( being English and all ) .
Yes they have had lots of amendments , but they seem reticent to improve
2nd amendment is weird as hell, the reason for AR15s ( child killer of choice ) is to rise up against an unjust govt - say wut?? but know it's like the 11 commandment,even more important as people break many of the others every day

Endymio said:

There are individuals out there who (falsely) consider Bitcoin and other cryptos as value-generating investments. From that perspective, they are indeed Ponzi schemes -- high returns for the initial investors are financed through later speculators, who themselves at some point will constitute a final rung which loses money when the music stops playing.

Of course, in reality crypto should merely be considered a value store and alternate currency (hence the name). In that light, there's no 'scheme' at all ... though the actual benefits thereof are certainly debateable.

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Endymio said:

There are individuals out there who (falsely) consider Bitcoin and other cryptos as value-generating investments

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PM me man, and I will tell you about the value I generated. And I didn't mine a single one.

Endymio said:

From that perspective, they are indeed Ponzi schemes

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https://www.investopedia.com/terms/p/ponzischeme.asp

"The SEC has identified a few traits that often signify a fraudulent financial scheme. If an investment opportunity guarantees a specific high rate of return, guarantees that return by a certain time and is not registered with the SEC, the SEC advises caution."

Bitcoin never did any of those things. People selling them in the exchange have.

scavengerspc said:

Bitcoin never did any of those things. People selling them in the exchange have.

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Oh, certainly, I agree. That was in fact my point. The issues here aren't with Bitcoin at all, but rather the "psst! psst! double your money overnight!" hawkers of it.