Posted by DigiNomad on 15th of Jul 2024 at 09:58 am
I think crypto was simply an election tactic. No
Government that relies on printing presses to the extent that
America is now forced to can ever be pro crypto - it just doesn't
work. If too many people adopted it, their house of cards would
crash.
Posted by DigiNomad on 15th of Jul 2024 at 10:19 am
Crypto - Trump's position on it before this cycle was basically
to not take a hard position but always circle back to saying he
loves the dollar so he doesn't need crypto. I'm sure he realizes
the economic gift and power that comes with being the world's
reserve currency and only country with the ability to print
and dilute that currency. Stock market cycles are mostly ties
to ebbs and flows of money printing. Crypto threatens the
ability for them to continues the long followed practice of
American Gov inflating their way out of crises and then gaslighting
the public telling them they aren't seeing the inflation they think
they're seeing - it's an American tradition.
Look at Germany last week. They could have set up a block
trade with multiple institutions to unload their BTC quietly, near
VWAP, like most institutions normally do when they have a large
position to unload. But instead they did it through a single
broker and just kept hitting the bid. You think that was on
accident? No way (check out blockworks macro saturday edition
for analysis). I personally expect more sovereign attacks on
crypto markets. The moron attorneys at the SEC backed the Gov into
a corner...so this is about all they have left now (I'm glad but
those attorneys should be fired).
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I think crypto was simply
And crypto the most obvious beneficiary
Posted by DigiNomad on 15th of Jul 2024 at 09:58 am
I think crypto was simply an election tactic. No Government that relies on printing presses to the extent that America is now forced to can ever be pro crypto - it just doesn't work. If too many people adopted it, their house of cards would crash.
Crypto - Trump's position on
Posted by DigiNomad on 15th of Jul 2024 at 10:19 am
Crypto - Trump's position on it before this cycle was basically to not take a hard position but always circle back to saying he loves the dollar so he doesn't need crypto. I'm sure he realizes the economic gift and power that comes with being the world's reserve currency and only country with the ability to print and dilute that currency. Stock market cycles are mostly ties to ebbs and flows of money printing. Crypto threatens the ability for them to continues the long followed practice of American Gov inflating their way out of crises and then gaslighting the public telling them they aren't seeing the inflation they think they're seeing - it's an American tradition.
Look at Germany last week. They could have set up a block trade with multiple institutions to unload their BTC quietly, near VWAP, like most institutions normally do when they have a large position to unload. But instead they did it through a single broker and just kept hitting the bid. You think that was on accident? No way (check out blockworks macro saturday edition for analysis). I personally expect more sovereign attacks on crypto markets. The moron attorneys at the SEC backed the Gov into a corner...so this is about all they have left now (I'm glad but those attorneys should be fired).