this post was submitted on 12 Jun 2024
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244
Trump Turns Bitcoin Into Test of Patriotism (gizmodo.com)
submitted 1 month ago by FlyingSquid@lemmy.world to c/technology@lemmy.world
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[–] Not_mikey@slrpnk.net 93 points 1 month ago (5 children)

Trump said in a Truth Social post Tuesday. “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”

Didn't COMMUNIST China ban it mostly because it was putting strain on their grid? Not sure how wasting states worth of electricity to fuel a glorified ponzi scheme is going to help with energy dominance but who am I to question the self-proclaimed genius.

[–] TexasDrunk@lemmy.world 33 points 1 month ago

Just tell him the only way to mine it is with windmill power. He'll change his tune.

[–] iopq@lemmy.world 24 points 1 month ago

They banned exchanges because people were able to move their wealth out of China

[–] Redex68@lemmy.world 16 points 1 month ago* (last edited 1 month ago) (2 children)

I just... I... what goes through this man's head? Why is literally every sentence he spews completed bullshit? And why do so many people fall for it?

[–] Fedizen@lemmy.world 15 points 1 month ago

he's propped up by like 7 billionaires with media companies and a lot of editing.

[–] bionicjoey@lemmy.ca 11 points 1 month ago

The broad masses of a nation [...] more readily fall victims to the big lie than the small lie

Adolph Hitler, Mein Kampf

[–] technocrit@lemmy.dbzer0.com 11 points 1 month ago* (last edited 1 month ago)

Yeah it's telling that this grifter is talking about Bitcoin when most other cryptos are massively more efficient. Even within crypto bitcoin is an obsolete technology. This is more for the like coal sector than crypto.

[–] CosmoNova@lemmy.world 9 points 1 month ago

Yes, some of the biggest crypto providers are de facto chinese. They trade big time, always have. When techno idealists in the west were still discussing Bitcoin as a free currency over a decade ago, china already ran gigantic crypto miner farms and saw it only as a speculative asset. They knew from the very first day it‘s not about using crypto, but making money trading and holding it.