Reddit Posts
NATIONAL DEBT EXPLODES BY 266 BILLION IN ONE MONTH, ROBINHOOD BUYS BACK SBFs STAKE FOR 600 MILLION.
Does The SEC Have a Case? The Hard Facts Behind The iX Global & DEBT Box...
SEC goes after "nodes" and files suit against company for selling "node licenses," Node License=Investment Contract
What its like currently holding ADA. Part 2.
What its like currently holding ADA part 2.
US DEBT EXPLODES as BRICS Calls to End Dollar Dominance! | Bitcoin News Today
SEC Freezes DEBT Box Assets Amid Allegations of $50M Fraud
SEC Accuses Crypto Mining Firm DEBT Box of Fraud; Freezes Assets - Crypto Economy
SEC freezes assets of DEBT Box, alleging $50M node license 'sham'
El Salvador appoint "Bitcoin Standard" author to be an economic adviser. Then man of the popular bitcoin book meet the man who adopt bitcoin countrywide.
[SERIOUS] It clicked: Banks don't store your money. They take it and are in debt to you. But most people in the world don't understand this
We are living in the future. Please read and let me know what you think.
U.S. debt is $31.5 Trillion.. Just DEBT.. Just the U.S.. When people wake up bitcoins market cap will exceed this number putting bitcoin above $1.5 million.
Please take care of the elephant in room nobody wants to talk about
US DEBT: It’ll come crashing down like the rest of our portfolios…right? Right?!
Mentions
The tariff’s are merely the accelerant of a collapsing global monetary system. $37 TRILLION IN DEBT with $200 TRILLION in unfunded liabilities SAYS SO. Ponder That!
Well generating revenue and reducing costs should help. I dont get why people are so pessimistic all of a sudden. Ive been warned by teachers about our debt since elementary school, it’s not going to disappear on its own. Government debt = OUR DEBT
It wouldn't be so scary if it wasn't all bought with DEBT. They've leveraged themselves so much. And as a company they don't generate anything meaningful enough to service said debt so it's all fueled by speculation and endless purchasing of more BTC. That game of musical chairs will be forced to stop. Who knows, maybe with BTC taking such big hits right now, and with more downward pressure to come we may be coming close to a forced liquidation event right now.
I get the impression a lot of people on this sub maybe just got into crypto in the last few months. You've seen Trump pull some pretty scummy moves with his memecoin, with courting a government reserve for tokens where there is no strong argument for it, and for playing favorites, rather than just opening up the playing field while going after scammers. Let me start by saying, all of these criticisms are valid. It's not dignified for a US president to launch a memecoin. It's not stabilizing for the industry for him to tweet out specific tickers. All of these complaints are fair. BUT This is still a million times better than what we had before. Attempts to astroturf the idea that Trump is "bad for crypto" are completely blind to just how terrible things were under the Biden/Gensler regime. I'll lay out just a few reasons why: The SEC The Gensler SEC was one of the spearheads of anti-crypto warfare. They resisted BTC ETFs right up until the courts said they couldn't do so any more, they got SEC offices literally shut down for their bad behavior (the DEBT box case), they notoriously said "Just come in and register" and then sued the companies that tried to do the right thing (see: Bittrex). They held up Prometheum as a "compliant crypto company" when it was literally just a front staffed by their own insiders so that they could say "hey there is a path to compliance, these guys did it". They met with SBF. One of the great scandals of the whole SBF fiasco is "why did the 'campaign finance' (aka political bribery) charges against SBF get dropped"? Throughout this whole period of a hostile, litigious, aggressive, SEC, there were always two commissioners dissenting. Mark Uyeda and Hester Pierce pointed out, again and again, that this was a ridiculous way to "regulate" an industry, and did nothing but prevent honest builders from building, and push them overseas. Well under Trump Uyeda is now the acting SEC head, and Pierce is promoted as well. The calm, balanced, pro-crypto commissioners are no on top. The toxic, hostile, big-bank protecting commissioners are gone. One big point for Trump. Other Government Positions Operation Choke Point 2.0, a multi agency attempt to squeeze out and kill crypto, wasn't just limited to the SEC. The FDIC, the OCC and others were all responsible. The FDIC pause letters that Coinbase has unearthed through the Freedom of Information Act show that the FDIC would tell banks "You can't deal with crypto until we have more clarity" and then would just never get back to them. A de facto ban on crypto, even while it was completely legal. Add this to the debanking scandal that is currently being investigated and you have a shady and underhanded system to suppress crypto builders without going through any of the usual channels. Trump's appointments across all of these agencies, from Atkins, to Lutnick, to Bessent in treasury, constitute a paradigm shift in this approach. All of the major regulatory agencies are now headed by people who understand the potential of crypto and want it to grow. The architects of OCP2.0 are being investigated, victims of debanking are coming forth in waves, and the situation has pulled a complete 180. The regulators under Trump have gone from unbelievably hostile and shady, to open to innovation. It is impossible to overstate the significance of this to local builders. You can actually build again. Another huge point to Trump. Results already These changes are already bearing fruit. SAB121 was the ridiculous accounting rule that was brought in against crypto to stop banks from holding it. Even when both houses tried to knock it down, Biden kept it in by executive order. SAB121 has been destroyed. Another point to Trump. And just today, the Senate voted 70-27 (with 18 Democrats this time, indicating that senate democrats are finally breaking ranks) to overturn the ridiculous IRS broker rule that tried to make every single DeFi front end a "broker" and would have killed DeFi in the USA. Yes. Trump's memecoin antics are gross. But anyone who has followed along with the absolutely hellish "regulation by enforcement" of the Biden admin, Operation Choke Point 2.0, debanking, the forced closure of Silvergate and Signature banks to take out crypto's traditional banking rails, SAB121, the IRS broker rule, and all of the other backdoor ways that the Biden admin tried to suppress, squeeze out and kill crypto, knows that even with a crappy memecoin, Trump is a million times better than what we had before.
Oh, I'm sure I'm older than you. I'm just curious what federal employees produce. You say they fix things that are broken. What exactly are they fixing? 5 work on infrastructure is outsourced to private companies to fix things, and most of those responsibilities fall on states anyway. So what exactly do federal employees produce? If you come up with anything.theres probably a private version of it that's better. The only thing I can think of that federal employees produce is this: DEBT TO THE TAXPAYERS.
Because WE ARE 37 TRILLION DOLLARS.IN DEBT AND IM SUPPOSEDLY ON A BITCOIN GROUP WHO DISAGREEA WITH SHEDDING WASTEFUL SPENDING. upside down world in here.
I'm ~~probably~~ absolutely going to get downvoted for this but you're being illogical. Please just listen: 1. Tax money doesn't just get buried in a hole. It's used to fund things which *you* benefit from like institutions, services, and a whole host of important entities (which Musk and his goons are trying to actively dismantle) 2. Inflation is a given in any economy. In fact, inflation is very important specifically in the US economy becasue it encourages growth and drives unemployment rates down. 3. The governments money is also devauled due to inflation. They can't just devalue everyones cash except their own. 4. EVEN IF THE GOVERNMENT WAS USING MONEY PRINTERS IN THE SAME WAY AS A TAX THEY CLEARLY AREN'T MAKING ENOUGH MONEY FROM IT TO DECREASE THE NATIONAL DEBT 5. Money printing is not the main cause of inflation. You clearly don't understand how an economy works. FFS get the fuck out of bitcoin if this is your understanding of the ecnonomy. You are going to do something stupid and lose a lot of money
Theu were literally torn apart by judges for NOT FOLLOWING THE LAWS. DEBT BOX CASE? Sec sanctions. Fired lawyers.
What backs the US dollar? There is no limit to how many dollars they can print or create. We put our trust in our government that they will keep the US dollar value. It seems that Central Banks have broken the promise. The world is waking up fast. Our DEBT BASED SYSTEM is going to fail and there is no way to save it. Why is that? Because we have to continually borrow currency to keep the economy moving. When people are borrowing to buy cars/ homes, the currency is created and enters the hands of the workers. The money gets disbursed and everyone is happy. However, when the debt is paid back over time, liquidity dries up and economy contracts. When the workers cannot afford to borrow money to stimulate the economy, the Federal Reserve lends to the Government to keep the system afloat. This is why were are $36 Trillion in debt and growing ever so fast. The real problem now is that AI is going to reduce and streamline goods and services. It will cause rapid production at a very low cost. This will cause even more deflation. And that means the money printer will even go more BRRRRRR. We are in a digital world and Gold had its time, but hard store and transfer. There is no other store of value with limited supply. No network is as secure as Bitcoin. I promise that all those people who believe Bitcoin is worthless cause it is not backed by anything will be buying it at $200,000 or higher. Then and only then will they realize what backs bitcoin.
"If you can't feed and shelter your kids its a pretty big deal." You can't be serious ? He would have got another job and just rent something, like millions of people do today. You act like selling his house did mean that he lost all his skills to work and earn money. "People lose their families over gambles that don't pay off." Thats only the case when they use DEBT to buy stuff or when they can't pay their DEBT anymore. We have millions of people buying real estate with DEBT they pay off with their work. Do you think this is not risky at all? If you lose your job then your family does also have a problem. But it looks like that guy in the OP Post did not have any debt and sold his house to buy BTC.
Any Payments, DOGE Is In Charge Of Cutting, Reallocating, Revamping All Government Agencies Spending. So If DOGE Wants “SSI & VA To Offer Payments In Crypto/Dogecoin” Then They Could Make It Happen. Or USPS For Example Is In A Shit Of DEBT, I Can See DOGE Revamping The Whole USPS System Allowing Payments In Dogecoin…. Also Elon And Vivek Are Doing The Job For Free But I’m Sure They Will Offer To Pay Their Employees In Dogecoin
Mining is always profitable - IF you can bare the cost of electricity and avoid selling. On an 8yr horizon. Become efficient, find partnerships with honest cities which desire a power plant, and that city has the tailwind of non-debt growth. Beware the city which builds monuments, and taj mahals, and jails. NON-DEBT growth is the actual thing which kills the reserve banks and rids us of war. I advise acquiring the future money powering growth for a huge head start. For you and your family/loved ones.
It is backed by something: DEBT. Every penny you own, is owed by someone to a bank. And bitcoin doesnt fix this. Bitcoin is partly backed up by the energy needed to mine it, but this energy was bought by with money, and so did the equipments needed to mine it. What bitcoin fixes is the centralization of power over money by the banks.
serious question. HOW DO WE PAY FOR THE RESERVE? Seriously. Do we print money and buy it? Causing massive inflation and hurting the citizens of the country? Or do we use tax money. Meaning raise taxes to pay for it? And next question; If we can AFFORD to do this, why not JUST PAY THE DEBT?
Class of 2017 even though I knew about bitcoin as early as 2012 but my goldbug brain told me “it’s not physical so it has no value” and after seeing China failed at stopping bitcoin in 2017 I saw how robust it was. 2017-2021 playing the “alt coin” casino thinking it would get me “more” than just DCAing bitcoin and was throwing loaded dice with RUG PULLS AND PUMP AND DUMPS. I still have many of these garbage “crypto project” tokens but the market cap for a majority of earlier ones has collapsed and it’s too hard to sell or it’s so low it’s worthless. I got a ton of NFTs too most lost over 90% of its value and never recovered. 2021-2024 I had to save very hard to catch up for lost time and now I have enough to RETIRE EARLY whenever Inhave had enough of the working world. I have had WAY LESS STRESS at work now because I have a financial safety net… I no longer stress about lossing my job and it feels like a weight was lifted off my back. Bitcoin was my tool to retake the value siphoned off from me via a corrupt fiat debt monetary system… I WORK LIKE A BEAST OF BURDEN for 20 years only to be compensated with literal DEBT TOKEN FIAT TRASH that gets devalued at 6%/year in real purchasing power. When other people think that bitcoin is “gaining value,” I reframed it and say “BITCOIN IS RETAKING VALUE that was stolen from the working class and gave it back to those who switched from fiat to a harder/sounder monetary ledger which is BITCOIN. Gold at best just stabilizes/buffers the loses from fiat debasement/thieft… but bitcoin is the ONLY ONE that retakes the value the fiat system stolen from you for the decades you were payed in fiat fugazi “money.”
Anyone familiar with Operation Choke Point 2.0, Silvergate, Signature Bank, SAB121, DEBT box, etc knows that the problem has been hostile and unaccountable regulators, not “unregulated” crypto teams that have been begging for clear rules for years.
Javier Milei will be FAR better for Argentina than any other polician since Menem and he got lucky and he was also a POS. Milei will try to save Argentina once and for all. Argentina has been DESTROYED by corrupt politician after corrupt politician. The worst of them became presidents "The Kirchner". First the husband then the wife and all of their crony friends stole BILLIONS UPON BILLIONS of Dollars from Argentina. They also stole massive amounts of land. They had a prosecutor killed who was going after them called "Alberto Nisman" and they claimed he commited suicide by shooting himself in the back of the head. Most everyone has NO IDEA how bad it was in Argentina until Milei arrived and he was given a country in RUINS with MASSIVE DEBT and no way to get out of it because it's a cultral problem like in most of the World.
If you study Bitcoin you will eventually come to several realisations. OP has not yet achieved these realisations so lets spell it out for them and others who may still be in the same fiat debt dominant narrative boat! If Bitcoin becomes the dominant monetary system PEOPLE WILL BE HIGHLY INCENTIVISED to have much MORE SAVINGS and MUCH LESS DEBT. You see dear OP, the fiat debt based monetary system rewards the banks to the exact extent that they issue debt. They issue debt toward us citizens and our governments making us and our governments their slaves. THIS IS TRULY HOW THE FIAT DEBT BASED MONETARY SYSTEM WORKS. So, contrast this with a Bitcoin centred monetary system where citizens are generally much more incentivised to save and much less incentivised to be in debt. There will still be situations where debt is a useful mechanism but it will be more likely organised P2P between savers and those who can propose a truly productive investment proposition that is likely to reward investors with a rate of return better than simply holding Bitcoin. If you still dont get it do some more research about how Bitcoin differs from Fiat. Enjoy your journey as it has clearly only just begun!!
You literally do not understand how much money is in the world [https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2022/](https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2022/) Look at that....... Now understand they are about to start TOKENIZING EQUITY AND DEBT ON XRPL. [https://x.com/zoniqxinc/status/1825506451617616264](https://x.com/zoniqxinc/status/1825506451617616264) XRP will absolutely moon, and thats ignoring all the other use cases besides this and cross border payments [https://docs.ripple.com/payments-direct/ripple-payments-direct/](https://docs.ripple.com/payments-direct/ripple-payments-direct/) [https://docs.ripple.com/payments-direct/user-interface/tutorials/batch/bank-ids/](https://docs.ripple.com/payments-direct/user-interface/tutorials/batch/bank-ids/) [https://www.remit.co.jp/en/kaigaisoukin/information/release20230906/](https://www.remit.co.jp/en/kaigaisoukin/information/release20230906/) https://www.celent.com/insights/295311504#:\~:text=Selected%20key%20findings%20include%3A,trade%2C%20and%20the%20digital%20economy. You dont know what your talking about
Why do politicians keep promising people things? We cannot afford to give anyone anymore money we are TRILLIONS OF DOLLARS IN DEBT. If America was your uncle you wouldn't be impressed with his new boat if he just told you he had ten million in credit card debt
Nowadays the dollar Is backed by nothing but DEBT! The banks can spend 10x what they lend, per the Fed, the private bank which owns us all, controls our dollar and just invents inflation while "fighting inflation", so that banks can charge 8% on mortgages and credit costs 30%
When will they pay their 35 TRILLION DEBT? And why do we even take this completely bankrupt entity serious?
The dollar is no longer backed by gold, it’s backed by treasuries (THE DOLLAR IS BACKED BY DEBT ITS ALL DEBT HOW DO YOU NOT KNOW THIS BY NOW) The major banks are a financial cartel and they created the federal reserve in 1913 (along with taxes). You need a Social slave… I mean security number to play in their game. Example: owing wall st 300k mortgage (you owe them) while they play with your 500k retirement account (their money they owe you) in the “market”. Where both are at risk and you are their puppet, they have the control, and profit on both sides. Bitcoin is outside of the fake financial matrix. It’s not owned by the cartel. That’s your hedge.
The “market” is platformed and funded by the banking system. The dollar is no longer backed by gold, it’s backed by treasuries (THE DOLLAR IS BACKED BH DEBT ITS ALL DEBT HOW DO YOU NOT KNOW THIS) The numbers you see on a screen are loose representations of what people think a business is worth. The major banks are a financial cartel and they created the federal reserve in 1913 (along with taxes). You need a Social slave… I mean security number to play in their game. Example: owing wall st 300k mortgage while they play with your 500k retirement account in the “market”. Where both are at risk and you are their puppet the profit on both sides. Bitcoin is outside of the fake financial matrix. It’s not owned by the cartel.
For those that don't understand macro economics: -Bitcoin is divisible into sats (0.00000001), mines by proof of work. - There is a finite amount that will ever exist. - Decentralized global asset. The USD is infinite. - Backed by "trust me bro" FED. - The US government owes -38 Trillion (DEBT), which is impossible to pay off. - Causing the worst inflation in our lifetime (western world) - Wages can't keep up with inflation growth The end goal is to have 1 sat = 1 USD, which is not too far away already. Trump if elected could put the US on the Bitcoin standard. This effect will be swift. Causing the price of Bitcoin to moon. So if you understand these principles, you buy Bitcoin now, and forever. Always buying. If you don't, you complain and keep trusting the FED will right its course (KEKW).
I think the world is not ready for xrp yet. Look up Claudio Borio’s idea of “epoch defining seismic rupture”. TXMC on twitter has a really good pinned tweet you can look up but here is two paragraphs I took. “With the world's most developed economies producing more debt than income and deficits needing to be funded, the most likely path forward for many countries will be the forced repatriation of capital and the compulsion of savers to hold govt whilst eating a face full debasement. Industrial policy will be used in tandem with credit controls to drive growth in strategic defensive sectors. We already see hints of this in the global Covid response and in Europe's guaranteeing of energy loans after 2022's commodity shock. I've tweeted about this for two years.” “Many assume that the next move by policymakers will be a total return to easy money like most of 2010-2021, but they don't see that the winds have shifted on this topic. Central banks have already told us they don't want to return to QE. It is a path to nowhere. It does not lead to GROWTH and these countries need MORE GDP than DEBT. All it does is produce higher asset prices and inequality. They've literally said this. The only alternative for growing deficits is strategic industrial policy, directed credit, and financial repression. Savers WILL be made to bear the burden.” So for xrp, I think the idea is that in a splintered world where there is no world reserve currency, they can utilize xrp for settlements between foreign exchanges because they wouldn’t want to use any one currency as a reserve currency again for settlements because that country in control will abuse it the same way the US did. I’m not the smartest guy but I can see the value in xrp and what they are trying to achieve with it if the world does take a turn like that.
Sometimes I hear him whisper DEBT through my curtains on a cold night.
"Willing buyers" like MSTR who are using DEBT, borrowing at bacially zero % in convertable shares. So literally inorganic buyer demand coming from Wall Street fugazi in order to keep the price from getting rekt. Anyone who understands how overuse of leverage can so easily lead to bubbles (2008 Housing Crisis) should realize this is a house of cards with that is so ripe for a liquidity crunch to crash the market.
Here are my two cents: Canadians in general are completely addicted to real estate speculation. 10% of the population are millionaires due to real this. They basically dismiss any more of wealth creation and thing the only way to make it in life is to own real estate... It's kind of sad really because this is leading to a complete class segregation: the privilege real estate wealthy and the one that have to go into crazy mortgages in order to survive. Crime rate are going up, friction between classes is rampant, tipping culture is ridiculous and everything come down to fundamentals: DEBT = Money .... the more DEBT in the system the less the CAD is worth and the bigger the wealth gap becomes. Canada might very be a case study in the next decade on the price to pay of having free money.
sounds like you're trying to scapegoat it by pretending the only reason you've made gains is because of the rising costs of Everything. like, dude. yes, if all that is happening is we put 100 bucks under a pillow and everything doubles in price, so when you reach under your pillow, your now 200 dollars is being taxed -- then yes, it might absolutely feel like theft. but you're in a bitcoin subreddit. bitcoin isn't simply keeping up with inflation. it has tripled in a year, it's currently in the same "near-all-time-high" it's been after it tripled it's previous all time high in 2021. so i'm simply calling bs on the idea that people only invest or buy assets in order to MAINTAIN their level of wealth, instead of to grow it. similarly, i've seen people say, "unrealized gains shouldn't be taxed." and i'm not completely against that -- as long as we also eliminate the idea that unrealized gains can be used to garner credit. if you bought a house for 200k and it's now worth 600k, and the bank is willing to see that you have an extra 400k in your pocket because of that (unrealized 400k) -- they are more willing to sell you a loan. because -- ultimately what you learn by playing with bitcoin and looking into finance -- is that money has less value than the promise of money. for example, i hire you to work for my company. payday is every second friday. you start the monday OF pay week. so you work all week and on friday, your coworkers are paid for the previous two weeks. next week you work all week and it's not a pay-week so it's fine. week 3 you work all week and THAT FRIDAY you get your first 2-week's worth of pay in a nice little check. how nice! you just worked 3 weeks swearing stressing and sweating for me and my company for the Promise of money. and now, yes you're getting your pay - but money didn't make you work, the PROMISE of money did. and that's what DEBT is. a promise of money. when you take out a mortgage, maybe that 200k house was 150k mortgage bc you only had 50k saved. so you've promised the lender you'll pay back the 150k and they've ammended that promise to include an amount of interest that satisfies them and doesn't have you backing out of the agreement. now, they say "over the next 20 years, you're paying me an extra 100k in interest" and the bank can say to your lender, "oh you have an extra 100k coming in over 10 years? then i can lend you money because you'll be good for it." the lender then uses that money to set up a mortgage with Another house-buyer. and the cycle continues until enough of us can't pay our mortgages and the WHOLE FUCKING THING COLLAPSES. because very little of it was ever actually tangible - it was all just promises. so when you have when you hold bitcoin is some digital string of numbers. ...that's really ALL you have -- but because of how nice everything is right now, what you have is a promise of a certain amount of cash-conversion. the majority of our economy is entirely built on debt and promises. if you're so miffed about taxes, write them an iou. ;)
I sold 1 entire bitcoin to do the same thing 3 years ago (payed off my mortgage). I HAVE ZERO REGRETS because after I was 100% debt free WITH A PAYED OFF HOUSE, I had virtually ZERO STRESS about the market price action and I developed TRUE 💎 ✋️ and sleep like a baby. I use cash app and get payed in bitcoin, instead of a mortgage, I PAY MYSELF and my savings rate went from 20% gross income (when I had a mortgage) to now 50-55% gross income. It's a totally different reality when you're debt free and pay yourself rather than creditors. Around this same time I went full bitcoin only and dumped all my 💩 🪙. My stacking has increased massively and it feels like my actual quality of life has easily gone up 50% or more. My normie fiat minded relatives can't figure out how I have a higher networth than them even though they earn 2x more than me and are "better educated" than me.... SIMPLE, I AM NO LONGER A DEBT SLAVE AND I AM NO LONGER ON THE FIAT STANDARD. Debt slavery is a fiat construct and I am NEVER GOING BACK! People enslaved to debt are not free to truly do what they want... constantly stressing over their job, their lives etc. Some people here have taken out a 2nd mortgage, ran up 2-3 credit cards, borrowed from family etc to buy bitcoin. If like in 2014, 2018, 2022 in a bear market, these people develop 📃 ✋️ and panic sell at a massive lose... or their relationship with friends and relative who they borrowed from deteriorate. Don't be a fiat debt slave... when you're debt free and with frugality, your rate of stacking with be supercharged. I was able to stack 1BTC from 2 years of #GETONZERO fiat, zero budget. I only hold fiat only on payday for a few hours to pay off bills and anything left over is dumped for bitcoin. Normie debt slaves stack debt, they will remain enslaved to fiat parasites and the fiat mindset.
tldr; The SEC's Salt Lake City office, known for its failed lawsuit against DEBT Box, will close due to staff attrition and budget considerations. The closure follows a judge's dismissal of the case against DEBT Box, where the SEC was ordered to pay $1.8 million in legal fees. The Denver office will assume the Salt Lake City office's enforcement jurisdiction. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; The SEC's Salt Lake City office, known for a failed lawsuit against DEBT Box, will close due to staff attrition and budget considerations. The closure follows the resignation of lawyers and a judge's dismissal of the case against DEBT Box, ordering the SEC to pay $1.8 million in legal fees. The Denver office will assume its enforcement duties. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Thank you!! I started slowly in 2018 and 2020 I went all in not looking back. This was always the goal: NO DEBT!! and now I gotta slowly catch back up with y’all before it takes off.
When 1 satoshi = 1 dollar, the market cap of Bitcoin will be $2.1 quadrillion. Or even if 1 sat = 1 cent, but we all know that a cent is worthless and becoming more worthless by the day, that's an equivalent total supply of $21Trillion. Let's be honest here... we ain't runnin' out of units. Regarding that it isn't backed by anything, I don't think it is easy to fight this one because they'll say "gold is physical" and "the dollar is backed by the might of the US government". These are not sensical arguments, they are regurgitated nonsense. Nothing is backed. In fact the dollar USED to be backed by gold which means it was just waiting to get rugged, being backed by something means it is a promissory note and promises are always worthless until you redeem them. Even if you have done it 100 times before, each new note is still a promise. Bitcoin has never been backed by anything, it is the money. Most people don't even know what they mean when they say that. Before engaging, be sure to figure out if your father in law is being out right dismissive. If he is playing fair, ask what being backed means and why it is important. My guess is it is all about the double spend problem. Who or what ensures that no random guy on the street can print more for nothing? So then maybe it feels scarier if someone else does it, but since we have appointed the Government as in charge, it is okay if they do it? Why? They'll print trillions in a year, why is that good at all? Because they do it for us? Do they though? Would a medium that cannot be inflated or debased really be that bad? Could it be that we have been brainwashed by the people that benefit from the reallocation of wealth as inflation occurs, that inflation is good for us when it is really just good for them? Did you know that when people say that a deflationary system would be a disaster in a debt based economy, they are explaining that every cent in existence is DEBT?!?! I mean, our money is worse than fairground tickets. Check out my article that tries to explain and compare bitcoin as a candidate for money as a medium: https://habla.news/a/naddr1qvzqqqr4gupzqrvhh6h9vl7we8r9wncudmmpym4fd82fjtp3nrj3crav2tzjwjs5qqxnzde3xcer2v3jxgursvfnljtn30
Holy fuck are you dumb. A liability doesn’t mean DEBT it means OBLIGATIONS. Crypto classified on THEIR books as a liability means it’s an OBLIGATION as in they OWE it to a THIRD PARTY.
THIS☝️ When you calculate the price of things in time The cost becomes clear That tank of gas costs how many hours work That car cost how many years work Those shoes…. If you have no investments and have not built a business with employees and only work for money you are literally LITERALLY trading your LIFE for that shit. Count the costs. DEBT w/o investment = slavery Paying compound interest but not making compound interest is selling yourself into slavery. Yes it may be worth it in small increments but see the Forrest for the trees and don’t get lost in it. How many years do you have to payoff to be free?
Well that’s what you get for paying your predominantly fixed cost of electricity with a deflationary asset in a bear market…. Of course they are fiat backed loans… welcome to capital markets. Look at the s&p500 rn, how do you think that happened? Only way companies and the economy can grow is by taking in debt, with interest rates at near ath, as well as all the random items congress mixes up into our basket of goods for gdp( commodities) how does one expect to not get eaten alive by rates… BY BUYING BEAT UP ASSETS WITH THE DEBT THEY JUST TOOK ON AND GRINDING FOR EXTRA CASH TO PAY IT DOWN WHILE DIAMOND HANDING THEM GOLDEN TENDIES GDAHMNNNIT
10 Ask this same question to somebody in Turkey, Argentina, IRAN, Lebanon, Nigeria, or South Africa. The success on bitcoin is determined by the failure of FIAT. So what you are really asking is how sure are your currency will fail. I am 100% the DEBT it USA, CHINA, JAPAN is going to fail. Gold is to old and hard to move.
comedy that illustrates well why/how so many who are in a hurry have a fundamental misunderstanding about Bitcoin and what makes it different than any other coin & token asset. also why it's important to READ & pay attention to the details in educational articles & videos..and of course, the BTC whitepaper & the halving , tokenomics + healthy crypto safety & security practices. and to never rely on information in a forum BECAUSE though many get things right, far too many get it wrong, spreading misinformation or in some cases, deliberate. *MIS-*information. all should be studied well and *before* buying into Bitcoin. otherwise anyone not understanding it properly can lose funds due to a lack of knowledge & carelessness. Bitcoin is a once in a lifetime opportunity among many opportunities - some that might be good ones but they don't even come close to what Bitcoin offers, long term. and all good & decent human beings deserve a real chance to get out from under the albatross that is the DEBT BASED, centralized government fiat currency system that will never recover from the weight of its own disastrous & deliberate structuring: [The Creature from Jekyll Island: A Second Look at the Federal Reserve](https://www.goodreads.com/en/book/show/66499)
tldr; Two SEC lawyers, Michael Welsh and Joseph Watkins, resigned after a district court sanctioned the SEC for 'gross abuse' of power in a crypto case involving DEBT Box. The court criticized the SEC for false statements and misrepresentations, leading to the resignation of the lawyers who were warned of potential termination. The case highlighted issues with the SEC's enforcement strategy under Chair Gary Gensler, which has been criticized for increasing regulatory uncertainty in the crypto industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
backed by the full faith and CREDIT OF THE USG. CREDIT EXCUSE ME HOW MANY TRILLION IN DEBT ARE YOU RN
I’m not sure what else I can say to you, you’re clearly not understanding the basic premise of this conversation. “Gambling” is a mildly more pejorative term for “speculation”. I have made it clear that I have always been talking about speculation. Now, you keep saying: “what you’re doing is wrong”. By what definition, exactly? I have already made you aware that I know speculation or “gambling” as you call it is not the most financially sound nor safe move. That does not mean it is inherently wrong (particularly if I see exponential upsides), and, more crucially: THAT IS WHY IT IS TAKING A CALCULATED RISK, AS I HAVE SAID A MILLION TIMES. What I do versus what a FTSE100 company might do with leveraged debt is entirely irrelevant. I would be taking DEBT and LEVERAGING it. Please see the definition of Financial Leverage for further information. In addition, you claim I would be “losing” borrowed money, but by doing so contradict your own assertion in your previous comment that you “believe in Bitcoin’s future”. How can you believe in its future while also believing I will lose the debt used to purchase it? Regardless, I’m almost certain that you’re just trolling as this point because this conversation is as circular as it could possibly be; you are not conceding that you understand what I’m saying whatsoever.
I think it would depend on what the USAs current stance on crypto is or what agenda they want to push during the time when those first sell offs do happen . If the banking & traditional banking system is still super ANTI crypto & looking to keep destroying it , they would make sure that money goes to high priority pockets because a narrative could be spun how "BTC IS HELPING PAY OFF OUR NATIONAL DEBT" which they wouldnt want , that would be greattt publicity for btc as a whole which they would hate . But if they just hurry up & accept it for what it is and become open with the idea that it is the financial system of the future then maybe that headline is actually something they would want and might actually do something like that with the national debt narrative
don't worry the government has figured out a solution. they are just going to have crippling inflation until a trillion dollars doesn't mean much. IMO print a few trillion dollars, pay off all debts, switch to Canadian dollar. fuck it. DEBT FREE baby!
I am once again asking you to read the IMF paper published in 2011 titled THE LIQUIDATION OF GOVERNMENT DEBT. What ends up being liquidated is your labor and savings. https://www.imf.org/external/np/seminars/eng/2011/res2/pdf/crbs.pdf https://twitter.com/dylanleclair_/status/1770810814309503373?s=46&t=ihVglVXC0BQSbw6j57EoaA FFS BUT COME AT US THIS IS WHY WE BITCOIN
>US debt is an order of magnitude greater than GDP Huh? [It's about 10% greater than the GDP.](https://www.imf.org/external/datamapper/CG_DEBT_GDP@GDD/CHN/FRA/DEU/ITA/JPN/GBR/USA) And several countries have considerably more without having the luxury of their currency being the world's reserve. ​ >I’m selling down my stocks now and putting it all into a risk-free asset with true potential as a replacement to fiat. Satoshis. Oh, great idea. Sell high, buy high.
They are afraid of anyone escaping their matrix of control DEBT. Get your Bitcoin anyway you can. Free yourself from them and make them your servant
Me who went all in during the 2021 crash: YYYYYEAAH MOTHERFUCKER IM NO LONGER IN DEBT AND THIS BULLRUN JUST GETTING STARTED!!!!
Me who went all in during the 2021 crash: YYYYYEAAH MOTHERFUCKER IM NO LONGER IN DEBT AND THIS BULLRUN JUST GETTING STARTED!!!!
THE NATIONAL DEBT IS OWED TO WHOM EXACTLY? Who do we owe this money to? Your Social Security Number is your collateral obligation to the debt collectors of the BANKERS THE IRS
tldr; U.S. Senators have criticized SEC Chair Gary Gensler for the agency's unethical handling of a crypto case involving DEBT Box, where evidence was misrepresented leading to a court-ordered asset freeze. The SEC has dismissed the case and is taking corrective actions, including staff training, to prevent future ethical lapses. The incident has raised concerns about the SEC's enforcement practices and the need for oversight in the cryptocurrency market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
So copy and pasting links that mimic your stance is providing evidence? Give me a break lol The economy is growing because we are taking on MORE DEBT to provide the illusion of growth. If borrowing remained the same GDP would drop. The debt required to increase GDP is growing exponentially. You can not exponentially print money. That’s as straight forward as I can make it for you lol the economy is not doing GOOD when analyzed from the debt ratio.. it is doing good ONLY when considering value alone, which we all know is shortsighted.
Hey bro, you can buy more BTC. The peace of mind of having car paid of and no debt is so worth it in my opinion. Do what you feel best about. You are paying interest in car and credit card both. Even if BTC doubles in two years you will still have paid a lot of interest on debt plus your mind will be in a DEBT mindset. All the best
Fucking A. 100% agreed bro. It’s like why the fuck wouldn’t you want us to be rich to pay our debts? Paying our debts…..lowers the DEBT!
tldr; The U.S. Securities and Exchange Commission (SEC) admitted to providing inaccurate information in a crypto fraud case involving Digital Licensing Inc., which did business as DEBT Box. The SEC had obtained a temporary asset freeze and restraining order by claiming the defendants were misusing investor funds. However, after the defendants challenged the SEC's facts, the judge dissolved the restraining order and requested an explanation. The SEC acknowledged the mistake, stating that fewer bank accounts were closed than initially claimed, and is taking steps to ensure accuracy in the future, including supervision by senior attorneys and mandatory staff training. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Lmaooo, americans are so funny. The logic is just too far gone to. You could sell the mower for 6k, pay off the DEBT YOU OWN!!! and use the rest to invest. Actually, educate yourself to make healthy financial decisions first before investing in anything. Why do you even have a 8k mower anyway, because it sounds like you don’t even need one since you’re talking about getting rid of it
NEVER USE DEBT to get bitcoin… leveraged hands are paper hands.
One can EASILY LEARN SKILLS TODAY more than in the past. These normie debt slaves here won’t understand what you ment. You can even get a university degree for CHEAP if you test out of most of the classes via CLEP exams… CLEP the hell out of it and take community college courses. I have seen stories for people getting a college degree in 1yr because they simply get credit via tests… it would hurt. Either college ON THE CHEAP OR A SKILLED TRADE. Someone can actually do BOTH AT THE SAME TIME if they are hard working… either way the OP will need MARKETABLE SKILLS… some college degree offers very little skills and the pay is garbage in some fields. Either way, getting on a bitcoin standard IS THE WAY… either bitcoin or another hard asset but bitcoin is the best one IMHO. The fiat standard IS FOR DEBT SLAVES.
Also, I strongly advice you NOT TO OBSESS OVER BITCOIN PRICE like the trader bros and the moon boys. DO NOT GO INTO DEBT FOR BITCOIN! Just try to earn more and develop more useful skills the most affordable way possible… and live your life as frugally as possible. Save the difference in hard assets. Bitcoin is a hard asset. The allocations should be amounts that you won’t feel stress over during a bear market etc. If you are a “degen” moon boy, leveraged to the hilt, and there is a market crash, you get obliterated and your paper hands will burn.
Even before I found bitcoin, I was a gold bug and instinctively knew that fiat currency were worthless debt backed coupons… EVER SINCE MY FIRST JOB, after paying my monthly expenses, I DUMPED ALL FIAT CURRENCY LEFTOVER INTO HARD ASSETS. My normie parents and extended family couldn’t figure out how comes my networth was like 3-4x that more more “educated” cousins etc. One person even thought I was selling drugs… because I wasn’t as broke as he was even though on paper he made 50% more than me and had a degree etc. ITS THE DEBT BASED FIAT MONETARY SYSTEM STUPID! It’s just another form of parasitism… the sooner you figure it out, the better. Fiat = slave currency
I wish I could go back to being 32 with what you have. NO DEBT Is there a burning reason why your 6 months EF needs to be in fiat? What about 1 month cash and 5 months BTC
I am absolutely not mixing definitions. In Equity THERE'S DEBT INVOLVED. Look at the definition I provided. You don't own the company. You lent the company money (debt) so they can work. The claims are rights on that DEBT. If you can't understand that, it's no use talking about this any further.
You’re correct, technically the fiat currency is backed by IOUs, which has a NEGATIVE VALUE if it pays back at a rate less than real inflation/debasement…. So you are correct, USDs are “backed” by DEBT/CREDIT that has a value of BELOW ZERO if the debt can’t be payed with at least break even rates.
Do you actually believe Powell can take interest rates up to 10%.? Do you actually believe the CPI is really only 3%? Do you actually believe the unemployment numbers they are giving us? We have a HUGE FUCKING DEBT problem that we cannot raise interest rates or will will hyperinflate just paying the INTEREST. FYI, When Paul Volker took interest rates above 20% in early 1980's the US debt was only 330 billion dollars and the debt level was manageable. FYI, they have changed the way we report CPI ,the way the report Unemployment, and they way the report an recession. I think you are going to be in for a rude awakening soon if you believe their nonsense.
50% of savings? Amateur- I’ve invested 100% of my DEBT.
In addition to this, people often forget to factor in DEBT when determining company valuations. Debt makes a company less valuable than their assets, because if they go bankrupt, those assets will go towards paying their creditors. However, there is then their net inflows from the products and services they provide which makes the company more valuable than their assets alone. You then need to think about whether those services (the companies income) will increase in demand in time (will the company have more income) or decrease in demand in time (the company has less income and runs into trouble paying off its DEBT)
When you factor in minimum wage, adjusted for inflation, it should be about $15/hr now and as hard as it is to believe, MANY COLLEGE GRADUATES straight out of college LIVING IN HIGHER COST OF LIVING STATES are earning minimum wage technically speaking. Example: Medical resident PGY1 (graduates medical school with MD but needs at minimum 3 years residency training to become a licensed physician) working average of 80 hours a week and living in Brooklyn NYC, San Francisco CA, Portland OR, Washington DC etc makes $60,000/yr… about the same as an average STEM graduate fresh out of school BUT AFTER FACTORING INFLATION AND COST OF LIVING, THE HOURS WORKED, THE MEDICAL RESIDENTS ARE MAKING ABOUT FEDERAL MINIMUM WAGE! With a debased currency, these new medical school graduates have to borrow MORE AND MORE… my cousin is in $350,000 of debt and is currently doing residency in internal medicine… 80hrs a week earning $60,000/yr living in NYC… after doing this for 3 years he gets his license to practice medicine and his starting base salary is expected to be $200,000 in NYC… that’s the same as a truck driver living in Atlanta minus the 1/3 million dollars of debt. How can anyone defend this parasitic system is beyond me… Unless you are wealthy and have rich parents to pay your way, or get a scholarship, you are FORCED TO BECOME A DEBT SLAVE TO LIVE YOUR DREAMS… no wander Max Kieser called the fiat system an INTEREST RATE APARTIT.
Wages not keeping up are the PRODUCTS OF A DEBT BASED FIAT SYSTEM… this is why it doesn’t even matter what the minimum wage is… they could make a minimum wage of $100/hr and all that would happen is that the cost of living would increase 10x because it’s still a debtfiat fugazi currency being created via debt/credit.
I did that at the last cycle too, after that my bitcoin savings rate MASSIVELY INCREASED due to not having any debt, mortgage, rent etc… it’s like you got a massive proportion. Debt free making $60,000/yr = “Normy” (having rent/mortgage, student loans etc) making $90,000-$100,000. When affirming the “satoshi premium” (average CGAR over the last few years), DEBT FREE bitcoiner on a BITCOIN SAVINGS STANDARD (#GET ON ZERO FIAT STANDARD) making $60,000 fiat is EQUIVALENT TO NORMIE MAKING $120,000 in an average state or about $240,000 in San Francisco, Brooklyn etc… I did the math multiple times and I kept reaching the same conclusion… it’s sounds crazy but you can do the calculations yourself.
The only graph you need to understand is the US DEBT [https://federalbudgetinpictures.com/wp-content/uploads/2023/03/FBIP-MAIN-37.jpg](https://federalbudgetinpictures.com/wp-content/uploads/2023/03/FBIP-MAIN-37.jpg) Because anyone with half a brain will understand that there is NO FCKING WAY to raise interest rates enough to control inflation with this much DEBT. Oh, we could take interest rates up to 6% but we would hyperinflation just printing money to service the debt. That is what you and everyone else needs to understand. FIAT IS DEAD.
Yes yes yes as long as inflation is higher than interest rates, DEBT IS GOOD
Never a good idea to put yourself in debt, isn't ut the exact opposite you are trying to achieve by investing? Who knows what happens or how many years it takes to become debt free once again. Everything you would pay for the loan, put it into btc, if you lose the job ir something you will still have your stack and NO DEBT.
Currency is an IOU or DEBT. Just read what it says on the dollar bill. "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE" When you are spending currency you are really just spending IOU's or debt notes. Currency enters the financial system when it is borrowed, like a home loan or car loan. The Federal Reserve gives the banks currency to lend out. The borrower buys a home for 300K and now there is 300K of debt notes in the financial system. Eventually, the home is paid off and all those debt notes go back to the bank. The best way to rationalize how our currency is debt is the following: You are a janitor at a bank and clean up afterhours. They bank owes you $1000 worth of services and does not have the money. The bank writes 1000 IOU;s to pay you in the future. You go to 7-11 to buy a coffee and tell them all you have is these bank IOU's. Manager at 7-11 says///./ we will accept the IOU's because we bank there. Thus when a bank note says it is legal tender, it must be accepted all over.
>Say you have 100 BTC. Would it be dumb to borrow money against your bitcoin, use that money to buy more bitcoin, so now you would have 200 bitcoin No, your LENDER has 100 Bitcoin. You have as much DEBT as your lender was willing to extend to you in exchange for that collateral. All you've done is give someone else custody over your original 100 Bitcoin. Say you own a house with no mortgage. Would it be dumb to get a home equity loan, use that money to buy a second house, then borrow money against those two houses, pay back the first loan and buy another house so now you have three houses? Do you see the accounting error?
Responsible answer: Do you do a unique and personal budget at the beginning of the month? If so just allocate the typical 15% in saving to Bitcoin and you’ll get there eventually. Anarchist answer: Short the fucking system buy maxing out every credit card you have to stack Sats. Take out ALL THE DEBT!!! Then when all you have left is 5 unconfiscatable coins, declare bankruptcy and watch the world burn. Learn to surf the Kali Yuga fren.
2023-09-13 COIN-79.86 USD/SO 189.95 Million/ISO 237.18 Million/NO dividend/Total DEBT (mrq) 3.5$ Billion VET-USD-0.01619602 USD Start Date: 2017-08-22 usdollar... iam a piece of paper and i control your entire life E&OE/CYA
is he though with 40k CC DEBT
> Keep up the DCA AFTER PAYING OFF THE CREDIT CARD DEBT!!
That's pure BS. Crypto has no intrinsic value. What intrinsic value does fiat have? The ability of the government to print more money with a push of a button? The MASSIVE DEBT that increases each passing year, that most countries have? The technology is interesting in the sense it can help CBDCs. Crypto and BTC were developed to promote financial freedom from the governments and their control. Crypto is decentralized, based in an immutable PUBLIC ledger. CBDCs will be private ledger and I really doubt if it's even immutable. Central banks and governments want control, kill switches and compliance. Blockchain and cryptos want you to be free. P.S. Every time I hear a public official bashing crypto and praising CBDCs my Monero bag gets a little bit heavier
So I read through some of the sepa info. Under the heading Cashless Payment Insruments, it says credit transfers, and direct debit. Still 60+ year old tech. Under the heading Speed Of Processing it says ;no longer than one business day for electronic payment orders. Up to two days for paper based transfer orders. And this only applies in the euro zone. It makes sense for a group of banks to make things easier on themselves. But all they have done is pre approve the movement of DEBT. this has done nothing to speed up the SETTLEMENT of the debt. The REAL MONEY doesn’t move in seconds with sepa. It still takes days for the company who sent money for you, to receive that money back from your financial institution. With the xrp ledger, both the transfer AND the settlement happen in less than 5 seconds. Meaning both parties receive their payments and the transaction is complete in 5 seconds.
Have you ever thought of how long it takes for the actual manufacturer to get PAID from a credit card transaction? It’s NOT instant. YOU take on the DEBT immediately. But no, that money is not transferred at the same time. These corporations work on 30,60,90 day intervals. Visa is a Ripple partner and ODL user. 5 second settlement of transactions. The speed and efficiency of manufacturing will skyrocket because they will have the money to expand. It will not be stuck waiting to get to their accounts.
I feel tons of people will tell you DEBT first then invest. But for me, crypto made me debt free. Did I get lucky? Maybe with a few coins… but I was so massive in debt I was willing to just pay minimums and invest what I could. I didn’t want to do the bankruptcy route and I was used to being broke. I said fuck it! Hahah Side note… being debt free was a weight lifted but investing still keeps me up at night cuz I’m still making myself broke by investing. But I like it that way.
Fun fact ...all those youtube people making crazy gainz? Thst paper account their showing you... they make their living lying to you using basic TA info and then place massive trades and show you their account. All lies and deception but they do make crazy money off referrals... money made from your $100 deposit plus % off every trade you do even when you lose. The mega rich investors like warren buffett bought the right stock at the right time and held it. And bought more. Built up a big portfolio and then they BORROW using it as collateral. THE RICH LIVE OFF DEBT !! And im sure as shit stinks they still had to work while building their empire until the empire paid them.
2023-08-14 coindesk to cut staffing ahead of potential sell 2022-06-15 coinbase lays off around 1,100 employees 2023-08-24 COIN-73.66 USD/SO 186.88M/F 186.99M/NO dividend/Total DEBT (mrq) 3.5$Billion E&OE/CYA
I don't care what is going on. I don't care if they keep my money in segregated account or not. Segregated accounts aren't even more secure. It's completely delusional. If they have 100 shared accounts or 10000 separated accounts, what's the difference? NOTHING, either they have 100 private keys, or 10000 private keys. You deposit, you agree that they keep custody of your money until you withdraw. And Binance has kept that promise. They never withwold withdrawals unlike those fishier exchanges who are not under attack! And by the way, your average fucking bank on the street, lends out your fucking money! WHY AREN'T THEY UNDER ATTACK BY THE LAW? BECAUSE IT'S NOT CRYPTO AND NOT A THREAT TO THE CENTRAL BANKS WHO ARE THE MASTERS OF THE GOVERNMENTS BECAUSE THE GOVERNMENTS ARE IN DEBT WITH THEM! IT'S THE CENTRAL BANKS WHO COMMAND THE GOVERNMENT TO KILL THEIR THREAT, CRYPTO. AND THEY CAN'T KILL A CHAIN, THEY CAN ONLY KILL THE EXCHANGES!
losing money is not enough, some people just want to be in DEBT
So the DEBT box is now indebted? The SEC keeps poking their noses in crypto affairs...
2022-03-29 Silvergate Capital Issues $205 Million Loan to MacroStrategy Collateralized by Bitcoin. Loan proceeds to be used by MacroStrategy, a subsidiary of MicroStrategy, to acquire additional bitcoins. 2023-03-08 Silvergate Capital is shutting down operation, LIQUIDATING after crypto collapse WIPES OUT bank 2023-08-11 Silvergate - stock - SICP-0.2400 USD 52 Week Range: 0.0200 - 107.8900 USD/SO 31.66 Million/Total DEBT 4.32$ Billion E&OE/CYA
2021-06-15 MicroStrategy files to sell 1$ billion in shares...partly to buy more bitcoin The company also said it has completed its 500$ million bond sale for its bitcoin strategy 2023-08-11 MSTR-384.31 USD/SO 12.07 Million/NO dividend Total DEBT (mrq) 2.24$ Billion
tldr; The United States Securities and Exchange Commission (SEC) has accused DEBT Box, a crypto mining firm, of executing a $50 million fraudulent cryptocurrency scheme. The SEC has obtained a temporary asset freeze and other emergency relief against DEBT Box and its four principals, as well as 13 additional defendants. The defendants allegedly sold unregistered securities called "node licenses" and used deceptive tactics to convince investors that these licenses would generate crypto asset tokens through mining activities. The SEC's complaint also alleges that DEBT Box and its principals lied to investors about the revenues of the businesses driving the value of the tokens. This is another move in the SEC's ongoing war against digital assets, with the agency having filed over 130 crypto lawsuits this year. Despite the SEC's actions, there are individuals in the finance industry and lawmakers who oppose the regulator's aggressive stance on digital assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I hope you know what you're doing. 1. A balance transfer doesn't let you pull out $20k on day one. You need to already have a DEBT from another credit card, then when you sign up to this new card, you TRANSFER the BALANCE/debt of the old card onto the new card, you can't simply ask for $20k and expect 0% for 18 months. 2. Even if 0% interest, you still need to make monthly repayments. You're not allowed to make a lump sum payment at the end in month 17, no idea where you got that idea from, otherwise be prepared to get ducked by late payments, fees, ~20% interest, a shitty credit score and a million phone calls and threats by the company. 3. Interest free days don't apply on regular purchases whilst you have a balance on the card. *(Points 1-3, depend on your country, but usually applies to most places). I have done something similar for Bitcoin, but it wasn't a balance transfer, it was a cash advance offer at 0% interest for 12 months for about 90% of my credit card limit. I made the monthly repayments every time, and at the end of the 12 months, I payed nothing more then what the amount I withdrew was.
The idea here is that the fiat financial system is a "scam" because the money supply can be arbitrarily expanded through government bond-buying and fractional/no reserve banking. This occurs because fiat currencies are not pegged to hard assets like gold which has a very steady supply rate that can not be manipulated. Credit expansion is literally financial value created out of thin air. When debt is issued, the supply of money expands and causes inflation in the economy (more money in system = more demand = less buying power). This is the difference between **REAL VALUE** and **FINANCIAL VALUE**. Real value is the production of goods and services in the economy. This is intrinsic value. Financial value is just a claim on intrinsic value. But the value of these claims can be inflated. In a fiat system, ALL MONEY IS DEBT. Meaning all money is essentially a promise to be paid back. There is no tie to hard assets. The US dollar is at the end of a long-term debt cycle. There is too much debt in the system and a lot of it was driven by covid-induced money printing and low interest rates (which incentivises debt creation). This is why we're seeing crazy inflation, a growing wealth gap, and political instability. I wouldn't even call it a ponzi because it's not like old investors are being paid with money from new investors. It's worse than a ponzi. It's like if the company just made up their own money and told people it was valuable. This is why crypto is valuable. The supply of bitcoin and other main blockchains are mathematically determined at a steady rate. It can't be manipulated by monetary policy and the ledger hasn't faulted once since its inception.
Does this graph reflect reflect interest payments ONLY made on the "US DEBT" $$##..? You know the counter in NewYork that's tracking our debt by the second (currently almost at $$32.5 Trillion$$). ??? Or, does it include interest on payments we are making on debt that is not reflected in that ticker..? I'm sure there's plenty of debt that is not reflected on the NewYork ticker/counter, right...?
Half the comments here got no idea how the debt ceiling works. THIS IS FOR OLD DEBT, The fuckers approved the budget and now they themselves are causing this crisis.
*Check back on next year's episode of DEBT ZEILING Z*
Whenever you put money into a bank, it's not your money any more It's a **DEBT** that the bank owes you And as we have seen recently, lots of banks can default or go under. And if the government doesn't bail them out, then your money is gone.
Look at me, I'm holding all USD and I'm facing the same problem You see I'm in Korea. No one here takes them. Yet all the money I have in the world is USD. Secondly, my bank doesn't have any branches here. I have no way to withdraw them. Basically USD is pointless & useless because the only way I'm actually able to buy anything just to survive or not be out on the street at night is by going through a complicated multi-step process: 1. I have special cards that automatically convert USD denominated DEBT into real money: KRW / korean won when scanned at a register. 2. Once I've accumulated a maximum amount of debt, I have to transfer the USD electronically to the accounts to "refill" it and allow me to spend more (in other words paying my credit card bill)