Quote:
Originally Posted by MandoMan
If I buy stock in GM or Chevron or Apple or Tesla, I’m buying a piece of something, a company, whether the stock goes up or down. I am helping that company, supporting it, not just milking it. If I buy gold or silver, they were mined out of the earth, and if I want, I can hold them in my hand and keep them in my safe deposit box. But crypto coins are “mined” out of what? I’ve never been able to understand the answer. What factory is helped by my investment? Why do I deserve to profit by the money I invest and the risk I take? Lots of computer transactions around the world and electricity are the “mine”? And I can’t actually hold one in my hand. It all reminds me of sleight-of-hand conjuring tricks, Ponzi schemes, sales of bridges, scams. I’d love to have my money grow that fast, but I’m worried about this. It sounds like it should be carefully regulated, and this new bill isn’t enough regulation. Plus, when it is promoted by a man whose family suddenly had billions in crypto-profits from “coins” in his honor where that money didn’t exist this time last year and will be helped a lot by this bill, I’m nervous. I didn’t buy the gold sneakers or the Bible or the virtual photos. Those were clearly scams. No crypto for me.
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You don't understand what Stablecoins are...It will bring huge amounts of investment capital to the USA. Everyone on Earth can bank in USA Stablecoins mostly to escape their collapsing currency created by their thieving governments. Europe (EU) publicly announced that they are going to steal everyone's bank accounts in order to "Invest" the money. Every European with a brain will be trading their saved Euro trash (hard to believe that anyone has "savings" in Europe) for Stablecoins...Or better, self-custody Bitcoin.
The EU Borg Collective is going to force CBDC in Oct 2025. Got Stablecoin/Bitcoin?
GENIUS indeed.