spiffydave

Love it! Been a fan for many years. Would still love to find the archive of music/sounds from musicforhackers.com from years ago. That was an epic channel.

Cool story bro!

If you don't agree that's fine. Don't buy. If other people buy and have a different opinion it doesn't hurt you at all.

I did read it. Not super impressed, but glad he has the freedom to say what he wants.

Yes, crypto is being manipulated and distorted by the wealthy and powerful. It's sad to see. But it's still beneficial to the average person to have other options outside of the current system.

I think your argument is a very nice strawman. No one is endorsing an "anarcho capitalistic system" here.

What we're saying is that having an alternative to fiat is some people's only hope when the government can close your accounts, inflate the currency, etc.

There's so much money coming into crypto and multiple studies have looked at money coming into Tether and the effect on Bitcoin price and it's negligible.

Plus, money has been coming out of Tether and into other stablecoins and what is happening with Bitcoin's price? Yeah, up.

Yeah, and Mr. Palmer evidently has his own political axe to grind. Good for him. Glad he can say what he wants.

Here's my rough explanation:

Provisions were added into the bill that would require "know your customer" type requirements and taxation of crypto exchanges but were written so poorly that the requirements could be extrapolated to crypto miners, staking, etc.

This is what happens when people who don't understand the technology in the first place try to write legislation at the last minute to insert into a bill that has nothing to do with crypto.

Amendments have been proposed to try and clarify the bill, but there are multiple amendments that are "worse" or "better" for crypto. Guess which one Janet Yellen is pushing? (after receiving millions from big banks for "speaking engagements."

Anyone can buy crypto. Not understanding how it's only for wealthy elites.

And Mr. Palmer is out of crypto. Good for him. And the solution to reign in fiat-based crony capitalism is what?

I 100% agree with the premise that the ultra-wealthy are finally getting on board with crypto and will pollute it with the same manipulation they've used in other markets. But that still doesn't mean it can't be used by the average person to build wealth if done correctly.

Yeah, Tether isn't great. Why use that as your example? There are plenty of other stablecoins and the article was about Bitcoin.

Nigeria has a cell phone adoption rate of around 50% currently. People can trade crypto, do banking, money transfers, etc. on a cell phone. The idea that a desktop computer is required is a very old-school mindset. Similar to your "everyone in Nigeria is impoverished" comment.

Also, it's not about getting rich. It's about surviving when the government has all power to freeze your bank accounts, inflate the currency, etc.

Those in power fear anything out of their control. See what's happening with the infrastructure bill and crypto as the latest example.

On the other hand, us little people should support anything that gives the average person a fighting chance against the rich and powerful.

I believe #1 is accurate. I don't believe #2 is accurate.

Companies provide what people demand. If our demands change, then they will change. It's the only way.