>Sen. Elizabeth Warren **urged** the Treasury Department and the Federal Reserve not to “use taxpayer dollars to bail out cryptocurrency billionaires and other highly leveraged cryptocurrency investors.
emphasis mine. She didn’t tell anyone No.
Significant_Cup_238 on
But if we don’t socialize our losses, who will make our next economy destroying bubble?
ariphron on
I will be so pissed if they bail out something that is not even legal tender that’s basically a collectors item and originally a way to hid criminal activity just to give them government money.
A_Beautiful_Impact on
So, we’re going to bail them out?! Cool, cool, cool….
HaroldGreenBandana on
Crypto bailout? The hell is that?
Gryfto Bro:
“Watch I as I turn this fake money into real money! Presto! Change-O! Magic!”
BeowulfShaeffer on
God damned right
ThatsItImOverThis on
Remember, like a year ago, when Trump handed Musk the keys to the US Treasury before any other department and no one really knows what they did?
I remember thinking that was just the first domino.
alloutofchewingum on
But privatized profit and socialized risk is the American Way!
Grand-Variation-5850 on
Hold on, are some arguing that bullshit crypto economy is too big to fail?
kinkgirlwriter on
They bet on nothing. Let them lose their asses.
Best description of crypto I’ve ever seen: Crypto is like idling your car 24/7 to solve sudokus that you can use to buy heroin.
DiligentDust9755 on
Bailed out with what? More crypto??? How are we going to bailout Monopoly money with real money???
SolarTsunami on
So you spent a bunch of real literal money on virtual tokens because you thought that if enough people spent real money on those virtual tokens that you would be able to then trade those virtual tokens for real money, and because you were wrong now you want everyone to give you real money so you can buy more virtual tokens?
These people being taken seriously in any capacity is baffling to me.
Purusha120 on
they’re billionaires, not *poors*. Of course they’re getting handouts and bailouts.
Melodic-Lingonberry7 on
But student loan forgiveness is socialist
kummer5peck on
Nothing for the AI tech bros either.
CatalyticDragon on
„Crypto billionaire“ is not a phrase which should exist.
Frigidevil on
Isn’t the ENTIRE business model of crypto that it doesn’t need a federally backed dollar? They literally signed up for this shit, don’t reward that.
IntellectAndEnergy on
Not one dime. If you put real money into things we all know are fake you’re on your own. Come to think of it, no matter where I put my money I’m on my own. So yeah, not a dime.
KaizenKintsugi on
I think what people mis understand the implications of this technology.
There is a difference between markets and price discovery and market infrastructure.
Market infrastructure is the ability to send a electronic transaction. To avoid a double spend. This is handled by the clearing houses. The special computer networks for creating electronic bearer instruments. They make finance possible. There are clearing houses for currency, equities, bonds, futures, swaps ect. All the banks and brokers have access to these. Only federally regulated banks are given access. You cannot have a bank with out access to these clearing houses.
Only the governments are allowed to run these because having an append only database was an impossible computer science problem, and it gives them the power of the sanction.
The americans run the world with this power, cross them, your banks turn off. No international trade because that all goes through the eurodollar which the americans control.
Bitcoin and their ilk are clearing houses before they are currencies. They are market infrastructure and they will be that regardless of the price of btc. It did the same thing when it was 0.0001 as it does now at 66K. There really is very little difference.
It’s unfortunate that people do not grasp this concept and the vital importance and power of an append only list, a simple ledger. If you yanked it out, or turned it off, absolutely everything would stop. You cannot run our civilization with out clearing and settlement.
If you control the ledger of the world reservce currency. You run the world. That is the power of a ledger.
qpxa on
Right on, these bailouts are earmarked for bank billionaires
blackmobius on
They will when all the gop is insider trading and holding millions in bitcoin
teddykaygeebee on
Bailed out and they’ll eat their cake, too
TakeTheWheelTV on
How about no bailout for billionaires. Period
nutano on
What about crypto tenanaires?
OldGaffer66 on
Absolutely not. They bet against the world and lost.
Boo hoo hoo. Cry me a river.
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Unfair, that’s it.
They’ll get bailed out.
>Sen. Elizabeth Warren **urged** the Treasury Department and the Federal Reserve not to “use taxpayer dollars to bail out cryptocurrency billionaires and other highly leveraged cryptocurrency investors.
emphasis mine. She didn’t tell anyone No.
But if we don’t socialize our losses, who will make our next economy destroying bubble?
I will be so pissed if they bail out something that is not even legal tender that’s basically a collectors item and originally a way to hid criminal activity just to give them government money.
So, we’re going to bail them out?! Cool, cool, cool….
Crypto bailout? The hell is that?
Gryfto Bro:
“Watch I as I turn this fake money into real money! Presto! Change-O! Magic!”
God damned right
Remember, like a year ago, when Trump handed Musk the keys to the US Treasury before any other department and no one really knows what they did?
I remember thinking that was just the first domino.
But privatized profit and socialized risk is the American Way!
Hold on, are some arguing that bullshit crypto economy is too big to fail?
They bet on nothing. Let them lose their asses.
Best description of crypto I’ve ever seen: Crypto is like idling your car 24/7 to solve sudokus that you can use to buy heroin.
Bailed out with what? More crypto??? How are we going to bailout Monopoly money with real money???
So you spent a bunch of real literal money on virtual tokens because you thought that if enough people spent real money on those virtual tokens that you would be able to then trade those virtual tokens for real money, and because you were wrong now you want everyone to give you real money so you can buy more virtual tokens?
These people being taken seriously in any capacity is baffling to me.
they’re billionaires, not *poors*. Of course they’re getting handouts and bailouts.
But student loan forgiveness is socialist
Nothing for the AI tech bros either.
„Crypto billionaire“ is not a phrase which should exist.
Isn’t the ENTIRE business model of crypto that it doesn’t need a federally backed dollar? They literally signed up for this shit, don’t reward that.
Not one dime. If you put real money into things we all know are fake you’re on your own. Come to think of it, no matter where I put my money I’m on my own. So yeah, not a dime.
I think what people mis understand the implications of this technology.
There is a difference between markets and price discovery and market infrastructure.
Market infrastructure is the ability to send a electronic transaction. To avoid a double spend. This is handled by the clearing houses. The special computer networks for creating electronic bearer instruments. They make finance possible. There are clearing houses for currency, equities, bonds, futures, swaps ect. All the banks and brokers have access to these. Only federally regulated banks are given access. You cannot have a bank with out access to these clearing houses.
Only the governments are allowed to run these because having an append only database was an impossible computer science problem, and it gives them the power of the sanction.
The americans run the world with this power, cross them, your banks turn off. No international trade because that all goes through the eurodollar which the americans control.
Bitcoin and their ilk are clearing houses before they are currencies. They are market infrastructure and they will be that regardless of the price of btc. It did the same thing when it was 0.0001 as it does now at 66K. There really is very little difference.
It’s unfortunate that people do not grasp this concept and the vital importance and power of an append only list, a simple ledger. If you yanked it out, or turned it off, absolutely everything would stop. You cannot run our civilization with out clearing and settlement.
If you control the ledger of the world reservce currency. You run the world. That is the power of a ledger.
Right on, these bailouts are earmarked for bank billionaires
They will when all the gop is insider trading and holding millions in bitcoin
Bailed out and they’ll eat their cake, too
How about no bailout for billionaires. Period
What about crypto tenanaires?
Absolutely not. They bet against the world and lost.
Boo hoo hoo. Cry me a river.