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chessknt said:
Maybe the Russians see it as crucial to the downfall of the American economy and are hoping people think like you by putting out some pointless legislation to ‘legitimize’ it, further weakening the dollar. I highly doubt the Russians give a **** about any of the concepts underpinning crypto.
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seems like Putin simply wants to exert more control over it. Not surprising considering everything else they do in Russia.
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The BRIC have long wanted to establish a basket of currencies to replace USD as global reserve. Could BTC have been a Trojan horse from the start?🤔
 
https://www.whitehouse.gov/briefin...ing-responsible-innovation-in-digital-assets/

IMO this tempered executive order is quite bullish for the Bitcoin and crypto space. Looking at ways to foster innovation and not banning and potentially putting Americans behind the curve of global adoption and innovation. Seems like they’ve been listening to people in the space. Crypto adoption and innovation is American as apple pie.
 
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Retail FOMO coming back.
 
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Anybody notice this?

It is April 1 😂


“We expect that NFT Cryptocurrencies will be the future of how medical and other health professional schools will handle interview spots and even admissions. We are super excited to be on the ground floor of this exciting, disruptive technology. Don’t forget to read our white paper <view paper> to see how SDN NFT Cryptocurrencies are going to lead the way in revolutionizing pre-health and health professional education.”


www.studentdoctor.net

SDN NFT Cryptocurrency: Line Goes Up - SDN

The Student Doctor Network provides free tools, resources, and advising services to help students become health professionals.
www.studentdoctor.net www.studentdoctor.net
 
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nimbus said:
Anybody notice this?

It is April 1 😂


“We expect that NFT Cryptocurrencies will be the future of how medical and other health professional schools will handle interview spots and even admissions. We are super excited to be on the ground floor of this exciting, disruptive technology. Don’t forget to read our white paper <view paper> to see how SDN NFT Cryptocurrencies are going to lead the way in revolutionizing pre-health and health professional education.”


www.studentdoctor.net

SDN NFT Cryptocurrency: Line Goes Up - SDN

The Student Doctor Network provides free tools, resources, and advising services to help students become health professionals.
www.studentdoctor.net www.studentdoctor.net
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One could get their acceptance letter along with an NFT deposited into their wallet, that way if the letter burns up, they can still prove they got in with the NFT.
 
nimbus said:
Anybody notice this?

It is April 1 😂


“We expect that NFT Cryptocurrencies will be the future of how medical and other health professional schools will handle interview spots and even admissions. We are super excited to be on the ground floor of this exciting, disruptive technology. Don’t forget to read our white paper <view paper> to see how SDN NFT Cryptocurrencies are going to lead the way in revolutionizing pre-health and health professional education.”


www.studentdoctor.net

SDN NFT Cryptocurrency: Line Goes Up - SDN

The Student Doctor Network provides free tools, resources, and advising services to help students become health professionals.
www.studentdoctor.net www.studentdoctor.net
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That's hilarious! Thanks for pointing that out! I wonder if there will be a whitelist...
 
chessknt said:
Are we still early???
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Crypto is viewed as a high risk asset and not protection against inflation. That means as the market goes down so does Crypto but even more. So, if you are a believer in Ethereum or Bitcoin you should be able to get those coins at 10% lower than today's prices. But, this also assumes that as stocks recover so will your crypto.
 
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BLADEMDA said:
Crypto is viewed as a high risk asset and not protection against inflation.
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Protection against inflation, ie store of value, is it's only selling point. If it's not that what is it? Already has no intrinsic value and is backed by nothing.
 
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PainDrain said:
www.cnn.com

Mining Capital Coin CEO indicted for allegedly running a cryptocurrency pyramid scheme

The Justice Department indicted Mining Capital Coin CEO Luiz Capuci Jr. for "allegedly orchestrating a $62 million global investment fraud scheme," the agency said Friday.
www.cnn.com www.cnn.com

Stories like this, of which I can list about a dozen, do not give me much faith in anything crypto related.
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In the end Crypto's main function will be a massive transfer of wealth from those that bought high and sold low to those that had bought low and sold high.
 
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I’m seeing the same thing with stocks right now.
 
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We'llBeDoneIn15Minutes said:
In the end Crypto's main function will be a massive transfer of wealth from those that bought high and sold low to those that had bought low and sold high.
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Anybody know how to short a mortgage backed bond for virtual real estate in the metaverse? I hear places by the Ape Yacht club are getting cheaper.
 
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We'llBeDoneIn15Minutes said:
In the end Crypto's main function will be a massive transfer of wealth from those that bought high and sold low to those that had bought low and sold high.
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You forgot ecological terrorism, fraud, and crimes involving extortion or ransom.

I think that covers the bases.
 
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pgg said:
You forgot ecological terrorism, fraud, and crimes involving extortion or ransom.

I think that covers the bases.
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Wondering what the percentage of illicit activities is for cash vs. crypto. I suspect the former is much, much higher.
 
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Not sure about you guys but I don’t buy crack with bitcoin. Now cocaine on the other hand…
 
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We'llBeDoneIn15Minutes said:
Protection against inflation, ie store of value, is it's only selling point. If it's not that what is it? Already has no intrinsic value and is backed by nothing.
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I have been assured it is basically digital gold :rofl:

I compared it myself to a 3x leveraged equity fund, but maybe I even undersold the leverage.
 
Update: I’m down $12k today on my crypto investments (roughly $40k invested).

But my 401k is way down too 😂
 
Holy Sh**coin Batman!!
Ewww, just uglier by the minute.


Screenshot_20220512-023444.png
 
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MSTR is going to get margin called. All these gains the past 2 years were propped up by fake money that no one has.
 
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Tether is 0.96 now. Apparently it's backed by nothing.
 
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Direct Laryngoscopy said:
Just for clarification, the currency of El Salvador is the US dollar (like Ecuador Panama and a few other central and South American countries). The expansion of the money supply (money printing) has led to expected inflation (if it is transitory, we will see). These nations that have the US dollar as the official currency are affected moreso than Americans and they can’t handle a 500% increase in lumber (even if temporary). The effect of inflation affects then worse than us.

Not sure if making bitcoin legal tender is the solution, but they are exploring options at breaking away from a currrency which they have no say in the monetary policy. At least with bitcoin they know it.

Addendum:

And a small surf town in El Salvador has been using bitcoin for a few years. It started out with just a a few merchants and a way to get the youth out of gang life, and has now expanded to just about everyone in the community utilizing Bitcoin via the second layer of BTC called lightning (almost instantaneous settlement). Google bitcoin beach and El Salvador if you’re interested.
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For those keeping track -

www.bloomberg.com

El Salvador’s Bitcoin Losses Swell to 28% as Bukele Buys More

President Nayib Bukele’s Bitcoin gambit is becoming onerous for cash-strapped El Salvador but that isn’t stopping him from adding to his stockpile.
www.bloomberg.com www.bloomberg.com

El Salvador's experiment in Bitcoin "investment" has lost them roughly $30M so far, as their state bonds trade at 40% of face value.

My absolute favorite quote from the article:

[El Salvador president] Bukele has shown himself to be a true believer in crypto, winning attention and admirers from around the world in the process, and says he trades the nation’s stockpile of coins on his phone.
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Ell oh ell
 
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The point is that the president of a country is trading state-owned crypto on his phone, while their bonds are getting downgraded and they're at risk of missing the next interest payment. And this place was held up as an example of Serious Business in the crypto world.
 
pgg said:
The point is that the president of a country is trading state-owned crypto on his phone, while their bonds are getting downgraded and they're at risk of missing the next interest payment. And this place was held up as an example of Serious Business in the crypto world.
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I call that legalized corruption which is pretty much present in every nation on earth. There have been strong rumors that the US sees El Salvador's bitcoin adoption as a threat to the dollar's hegemony. Hillary Clinton made that very clear not long ago.

 
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ProRealDoc said:
I called that legalized corruption which is pretty much present in every nation on earth. There have been strong rumors that the US sees El Salvador's bitcoin adoption as a threat to the dollar's hegemony. Hillary Clinton made that very clear not long ago.

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What? You think POTUS can move 30 million is us Treasury funds around in his personal accounts?
 
RadOncDoc21 said:
If we’re going to use this, please let’s not forget Trump and his kids. They actually pushed money publically.
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You mean the $2B Saudi sovereign wealth fund money that Jared got for his private equity fund? Maybe he’ll buy anesthesia groups in Israel.
 
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RadOncDoc21 said:
If we’re going to use this, please let’s not forget Trump and his kids. They actually pushed money publically.
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Right, so legalized corruption to the highest levels regardless of the country. Just look at the Russian billionaires buying up properties in Dubai and no one seems to bat an eye. Welcome to the real world.
 
ProRealDoc said:
Right, so legalized corruption to the highest levels regardless of the country. Just look at the Russian billionaires buying up properties in Dubai and no one seems to bat an eye. Welcome to the real world.
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All I’m saying is be equal. I don’t place anyone on a pedestal especially politicians and mega corporations. I just think we are blinded by our personal beliefs to attack each other vs going after the real problems…greed and injustices.

Neither Trump or Biden have done anything to fix it.
 
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Did you guys follow whats going on with LUNA and TERRA coin? Craziness...
so many people wiped out, and apparently some people committed suicide in the aftermath
unfortunately scams and lack of accountability is rife in crypto world
 
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coffeebythelake said:
Did you guys follow whats going on with LUNA and TERRA coin? Craziness...
so many people wiped out, and apparently some people committed suicide in the aftermath
unfortunately scams and lack of accountability is rife in crypto world
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I have/had some. Down 99.9%. Painful.
 
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nimbus said:
I have/had some. Down 99.9%. Painful.
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Still trying to figure out how something like this could happen. So UST Terra is a "stable coin" but not secured by anything of value, just linked to LUNA coin which fluctuates. And they give you 20% APR for staking your UST? What value exist? Where does the money come from?How could they ever have pay20% interest

This Do Kwon guy seems like a piece of work. Won't be surprised if someone puts a hit on him.
 
coffeebythelake said:
Still trying to figure out how something like this could happen. So UST Terra is a "stable coin" but not secured by anything of value, just linked to LUNA coin which fluctuates. And they give you 20% APR for staking your UST? What value exist? Where does the money come from?How could they ever have pay20% interest

This Do Kwon guy seems like a piece of work. Won't be surprised if someone puts a hit on him.
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Tether will be exposed eventually. 80 billion of magical money backed by nothing.

 
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coffeebythelake said:
Did you guys follow whats going on with LUNA and TERRA coin? Craziness...
so many people wiped out, and apparently some people committed suicide in the aftermath
unfortunately scams and lack of accountability is rife in crypto world
Click to expand...
You know what PT Barnum would say...
 
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