Okay, look at it this way, the TON team bailed as soon as the SEC threatened a suit. Coinbase has the most solid US presence of any of the exchanges. We've seen during the last bear market that they're willing to stand up to regulators. And as far SNAP goes, they showed up out of nowhere. What's the foundation there? BASE clearly has better odds
Your forgetting the other programs though. SNAP benefits get slashed, international partnership programs get thrown into disarray because the US Sstops participating which affects other region/governments' economies. This type of worldwide impact on projects is a huge piece to why they downgraded as well
I just tried to verify now and this is the message I get \~/Desktop/btccore$ sha256sum --ignore-missing --check SHA256SUMS sha256sum: SHA256SUMS: no file was verified Also have to mention that I installed btc core through SNAP and it is in a separate folder (snap/) from the checksums. I tried copying the checksums to snap directory but that is not allowed. Could that be why verification is denied ?
How many of these "sh\*tcoins'" products do you use? As I don't live in the United States I probably use a lot less than all of you: AMZN: I have ordered books from there. AAPL: I had an Apple computer as a child. META: I use WhatsApp a ton and Facebook a little bit. GOOG: Who doesn't use Google and YouTube? My phone is also Android. MSFT: I use Linux TSLA: not yet, but I hear those cars are quite good and easy to maintain. SNAP: never NFLX: never These all seem like perfectly fine stocks. I just don't see how they have the explosive potential of bitcoin.
Wow that's awesome!! I've gotten so bored lately with everything lately (especially Marvel SNAP) I've been going super old school and playing Heroes of Might and Magic II lolol. Is he making any multiplayer versions so you can versus each other?
**Linux:** Released in 1992, used by NASA less than five years later **Blockchain:** Released in 2008. Used by exactly zero corporations for commercial purposes (besides siloed pilot programs), and major blockchain projects cancelled by IBM, ASX, Maersk, SNAP, and hundreds of startups.
This interests me because I wouldn't oppose digitizing food stamps or other welfare support using blockchain. However, in my opinion, this would have to be a completely separate system from a CBDC, not just an added feature that gives the government more control over how someone could spend their money. For example, Supplemental Assistance Nutrition Program (SNAP) fraud is a real occurrence; people find illicit ways to collect and then resell food stamps and other assistance meant for people who need it. Unfortunately, this type of fraud takes advantage of families who really need support. Blockchain could play a central role in preventing this type of fraud. I don't think it should be a part of a CBDC; it should be a system specifically for those who need assistance and prevent those who don't from abusing it.
You mean illegals? Or do you want to tell me blacks are to stupid to get an ID? I dare you to tell me this shit! Because that it is what we are talking about right? Cry me a river about the poor minorities who are for some mysterious reason not able to get a driver license or any other piece of ID. You don't get even SNAP without ID!!! Seriously, how can someone have no shame to go out with an argument like that? Voter ID is basically the norm in every democratic country worldwide. From Africa to Europe to Asia. The only reason politicians in the US campaign against it is voter fraud. Everywhere else in the world it isn't a problem!
Did you mean to respond to someone else? I don’t see anyone talking about stimulus checks (which are actually mentioned in the paper you linked, btw). Side note: the government/treasury would not be thrilled to have you return a stimulus check for a few reasons. One, it’s a pain in their over-bureaucratized asses to reverse disbursements. I’ve seen this with the Dept of Veterans Affairs (who issue payments directly from the US Treasury Dept) and with people receiving welfare/SNAP. It can be hard to get money out of the government, but once achieved it is hard to reverse. Two, the checks were meant to stimulate the economy and were never intended, designed, or sufficient to alleviate financial hardship (that was attempted through PPP and increasing welfare payments). The implications of the article you posted are very interesting tho. For example, the Fed/Treasury could one day immediately disburse money to the public as well as.. um, “unimburse” the public to control for inflation. Tho the latter will probably not be feasible in our lifetimes, if ever.
They could already do that - it’s just easier for them to do it now. Stimulus programs like food stamps, for example. This would just require less management and architecture built out to restrict the dollars they specify for certain uses, like the SNAP system.
>Jan. 5, 2023: Crypto bank Silvergate Capital (SI) cuts 200 jobs, about 40% of its workforce. Dec. 9, 2022: Crypto trading firm Amber Group lays off 40% of its workforce, reducing its headcount by about 300. Dec. 5, 2022: Australian crypto exchange Swyftx cuts 90 jobs, reducing its workforce by 35%. Dec. 5, 2022: Bybit to lay off 250 employees, a 30% reduction. Nov. 30, 2022: Crypto exchange Kraken cuts 30% of its staff, an estimated 1,100 people. Nov. 24, 2022: Argentine crypto exchange Lemon Cash sheds 100 jobs, about 38%, of its 296-employee roster. Nov. 18, 2022: Bitcoin financial-services firm Unchained Capital cuts its staff by 15%, or 16 people. Nov. 10, 2022: Crypto exchange Coinbase (COIN) lays off 60 employees. Nov. 9, 2022: Meta Platforms (META) slashes more than 11,000 jobs, an estimated 13% of its workforce. Nov. 4, 2022: Web3 gaming studio Mythical Games lays off 10% of its employees, an estimated 32 individuals. Nov. 3, 2022: Payments processor Stripe cuts more than 1,000 jobs, about 14% of its workforce. Nov. 2, 2022: Dapper Labs reduces its workforce by 22%, about 135 staff members. Nov. 2, 2022: Crypto exchange BitMEX cuts 20% of its staff, about 53 employees. Nov. 2, 2022: Digital Currency Group cuts nearly 13% of its staff, placing its headcount at 66. The crypto conglomerate owns CoinDesk. Nov. 1, 2022: Crypto finance firm Galaxy Digital to cut one-fifth of its workforce, an estimated 170 employees. Oct. 13, 2022: Crypto trading firm NYDIG lays off about 33% of its staff, about 110 employees. Oct. 11, 2022: Market maker GSR cuts its staff by 10%, an estimated 30 employees. Oct. 6, 2022: Crypto exchange Crypto.com downsizes by 2,000 employees, about 30%-40% of its staff. Oct. 1, 2022: Indian crypto exchange WazirX lays off roughly 40%, about 50 to 70 employees. Sept. 23, 2022: Stakefish staff is reduced by 25% following Ethereum Merge, about eight employees. Sept. 16, 2022: Fintech startup TrueLayer trims 10% of its staff, about 45 employees. Sept. 1, 2022: Social media giant Snap (SNAP) disbands its Web3 team, laying off 20% of its staff, about 1,459 employees. Sept. 1, 2022: A second round of layoffs at Brazilian crypto unicorn 2TM reduces the firm's staff by 15%, about 100 employees. Aug. 17, 2022: Crypto broker Genesis Global Trading cuts 20% of its 260-person workforce. Genesis, like CoinDesk, is owned by Digital Currency Group. Aug. 11, 2022: Crypto miner Core Scientific (CORZ) cuts 10% of its staff. Aug. 2, 2022: Broker Robinhood Markets (HOOD) slashes 780 jobs, about 23% of its workforce. July 29, 2022: Crypto exchange CoinFLEX reduces is 50%-60% of staff. July 21, 2022: Blockchain.com cuts 25% of its staff, about 150 jobs. July 14, 2022: NFT marketplace OpenSea lays off roughly 20% of its staff. July 7, 2022: Compass Mining cuts 15% of its staff, lowers executive compensation. July 5, 2022: Crypto exchange Bullish.com reportedly cuts about 10% of workforce. July 4, 2022: Crypto lender Celsius Network reportedly cuts 150 jobs amid restructuring. July 1, 2022: Cosmos-builder Ignite cuts its headcount by more than 50%, according to former employees. June 28, 2022: Crypto exchange Huobi Global could cut over 30% of its workforce as China's crackdown on crypto leads to a fall in revenue. June 27, 2022: Australian crypto exchange Banxa lays off 70. June 24, 2022: European crypto exchange Bitpanda cuts its staff by 270. June 20, 2022: Bybit to reduce its workforce by 30%. June 14, 2022: Coinbase lays off around 1,100 employees. June 13, 2022: Crypto.com, BlockFi to cut more than 400 jobs. June 3, 2022: Brazilian crypto unicorn 2TM lays off more than 80 employees. June 2, 2022: Middle Eastern crypto exchange Rain reportedly lays off dozens of employees. June 2, 2022: Gemini cuts 10% of its staff. May 26, 2022: Latin American crypto exchange Bitso lays off 80 employees. May 24, 2022: Argentinian crypto exchange Buenbit cuts 45% of its staff, roughly 80 people. April 4, 2022: Crypto exchange BitMEX lays off 75 workers. TLDR but still too long to read
Get on SNAP ASAP. You are helping farmers. At least you have meals. Medicaid is AWESOME, at least in NYC. Make that bed every morning. Even a boring job, for 6 months, $20/$25 an hour can pile up a decent amount of cash. DO NOT neglect your teeth. Do a basic yoga, meditation every morning. Get at least 5,000 steps a day. Buy an immersion blender. Can make energy shakes in minutes. As an Entrepreneur will tell you, 3 fires, 2 bankruptcies, now you are ready to start a business. Life is short, than we die. You’ll recover. Really. :-)
So let’s talk about those tax dollars, because most of what you just described doesn’t come from federal tax dollars. Here’s how federal tax dollars get spent as of 2022 congressional budget committee reporting: Defense: 13% Social Security: 21% Health Insurance: 25% (medicare, medicaid, obamacare) Economic security programs: 11% (welfare, snap, utility assistance etc…) Veterans benefits: 7% Interest on debt: 7% Education: 3% Transportation: 2% Natural resources and agriculture: 1% Science and medical research: 1% Law enforcement: 1% International: 1% All other: 5% Education, transportation, law enforcement, utility costs, home inspections, among a number of other things are majority paid for by local and state taxes, not federal income tax. Of the federal tax money in the categories noted a huge portion goes to senior citizen benefits. Over 15 million senior citizens live with incomes below 200% of the poverty level because the social security program is ineffective. Seniors are also one of the largest beneficiaries of economic security programs like SNAP and utility assistance. As well as taking up a huge portion of the healthcare costs with Medicare. Which again, falls short in supporting the rising costs of healthcare leaving many seniors in medical debt.
I don't know who all knows, but my household pulls down six figures in a place where the average salary is closer to $30k. EVEN MY kid just got a SNAP card IN HER NAME with EBT benefits so she can buy food. They're going to train up a child in the way they want them to go, so that when they're old, they'll buy those darn soy dogs and be F'n happy.
Yeah then they eat those meals and they're hungry again. The United States can't even solve hunger in its own country. In 2020 SNAP (food stamps) cost the country nearly 80 billion dollars. If you think we can permanently end issues with access to food worldwide for a fraction of that you are just delusional.
We already do this with SNAP and housing assistance. And similar with spending MSA and such. May as well just put it all into CBDC and be done with it. Also would be cool for things like oversupply of cheese…just add a few million extra dollars to everyone’s wallets that can only be used for cheese.
Yes, but CBDC has a layer of intelligence. Gov can do things like issue UBI or SNAP or welfare, and make it so the money only works for rent or milk or clothing etc, plus they can say it expires on X date. So things like stimulus money can be forced to get spent on intended idea.
You can watch the actual presentation linked below. The article OP linked is a spectacle of cherry picking to fit a narrative. They address the issues of privacy among other things in the full presentation that give the soundbites in the article a totally different perspective. That said, I don’t support or think that CBDCs are the answer for a variety of reasons. Not to mention there are countless ways to side step the restrictions that CBDCs could attempt to implement. For instance in a social services model where you’re trying to prevent people from buying non-food items with welfare money. All that needs to be done is to scan in a food item, manually adjust its price to a non-food item and give the person the non-food item. I watch people do this already at my local 7-11 with their SNAP food benefits. The clerk scans in a gallon of milk, alters its price, then hands the purchaser a pack of cigarettes. I’ve even seen it where they scan a bunch of food items, keep the all items, and hand the person cash back that is equal to the value of the items. Basically using the register as an ATM. https://youtu.be/2I9HR7BTmn0
>Ok... Where to start... > >Even if this isn't a scam (how are you taking the 0.1% fee?, How can we trust it? How much of an attack vector are you needlessly introducin), the marketing around this is wayyyyy too buzzwordy to give any level of confidence. > >I'm always sceptical when I see products that handwave "AI" for systems that don't appear to need it. Hi DX, thanks for commenting! PreSend is read only from the point of view of interacting with your wallet and assets. The 10% + $0.02 fee will be present in MetaMask's gas system. It alerts/blocks a transaction that could result in your cryptocurrency being sent into the ether, and makes use of MetaMask's ‘SNAP’ and 'FLASK' architectures, which are the MetaMask-approved methods to interact with your MetaMask wallet
Not hard to imagine at all. This framework already exists in the social services sphere. You can only use your SNAP food assistance card at businesses that accept SNAP. Which have to be registered with the USDA to be able to accept those benefits.
>These cash-grabs are plainly obvious to mainstream gamers; it's is why there's such a massive backlash against crypto being forced into games. Most people that actually play games know what makes a game fun to play and will spot a cynical cash-grab a mile off (surprisingly, finance & crypto nuts looking for the next hot speculative asset have nfi and are more likely to fall for these dumb games) Uh, not true. Gamers as a whole are a pretty unimpressive bunch when it comes to this. For the last several years game devs have creating and employing increasingly more predatory business models for their games and making shit loads of money doing so. I have been reading post from people exploring others to "vote with their wallet" for years. Devs to get more crazy and wait for the backlash to hit a peak and walk it back a little and they are celebrated (most recent example Marvel SNAP). Activision has been selling player skins to people in an FPS game where you can't even see what you bought while your playing. It's been tested and proven that guns they released into warzone were weaker when earned versus when bought. People play these games and spend their money there because yes, they are more fun and yes, they are more pretty. This is easily explained by knowing that this is where the money is. They have the budget to afford the talent required to get your interested. You are making a very harsh yet accurate assessment of scales the are only at the very beginning of tilting. Over time, as these games become more compelling from a graphical perspective, a mechanics perspective, and an economy perspective the money will begin to shift. The people who are supportive of what we have right now are not supportive because of what currently exists. It's because of what it could potentially be. For me that's not a get rich quick scheme. I whaled into Warzone while I was playing with my brother and after a while I realized, I hate this fucking game. For many reasons but the point it is, it was a terrible financial decision from my part and now that I don't play anymore I have nothing to show for it. But if the items that I bought/earned while playing were of limited quantity I could have sold what I had on a secondary market. Even if I sold all of it for 50% less than I payed I would still be better off than I am right now. Your post is accurate but u fortunately it is an inevitable current state and moving beyond this will take time. There needs to be more money in the space but why do that if the space is not compelling? It's a shitty circle that unfortunately needs speculation to be broken.
Ehhh, google did better than expected especially compared to SNAP. And MSFT's Azure platform is still killing it. They mostly took a hit due to the profits from abroad being hit by the high USD. Both look good all things considered, especially MS.
Ha! Love these articles. Best not to mention darling **ETFS** like [ARKG](https://finance.yahoo.com/quote/ARKG?p=ARKG&.tsrc=fin-srch) which are down 70% from their highs, or darlings like [Netflix](https://finance.yahoo.com/quote/NFLX?p=NFLX&.tsrc=fin-srch) and [Zoom](https://finance.yahoo.com/quote/ZM?p=ZM&.tsrc=fin-srch) which were wholeheartedly massacred from their highs. Or stocks like the "very safe" [Alibaba](https://finance.yahoo.com/quote/BABA?p=BABA&.tsrc=fin-srch) which got melted down from its highs, or [Darlings like Shopify](https://finance.yahoo.com/quote/SHOP?p=SHOP&.tsrc=fin-srch) or [Snapchat](https://finance.yahoo.com/quote/SNAP). Anyone who meets the following criteria should lose their money though: > Jacob Willette, a 40-year-old man in Mesa, Ariz. who works as a DoorDash delivery driver, stored his entire life savings in an account with Celsius that promised high returns. At its peak, the stored value was $120,000, Mr. Willette said. If you *willingly* put your life savings into something that promises high returns and don't even ask a question about whether or not that's a good idea, guess what - You're probably going to get burned. It's high risk high reward for a reason. You just ate the risk.
So, I can speak to some of these from personal experience. The free birth control is all well and good...except when you look into the rural parts of the country. For example, I grew up in a tiny town in rural Ohio, population was roughly 1,000. The town directly next to mine would not sell condoms, and the sex education in the area was based solely on abstinence. The year my sister graduated, more than half of the kids in the graduating class in our county seat either were pregnant or had kids already. Not everyone has access to that kind of thing in poor, rural America. There was a similar situation with low-income housing. When my parents split, we had to be on a waiting list to get an apartment that my mom could afford. My town had a total of 20 apartments that were low-income. There were a LOT more than 20 families living there that would have qualified for it, but there just isn't enough supply. On top of that, it most definitely wasn't free. We had days where we had to hope someone messed up an order at the place my mom worked so we could eat because there wasn't enough food to last, even with SNAP. That's something I've struggled with my whole life now, trying to ration out food to make sure I always have something to eat even though I live very comfortably now. I don't have any personal experience with the day care situation, as I was 12 when we became a single-parent household. I can, however, speak on Medicaid and how impossible that system is, because of how underfunded it is. I couldn't get the psych help I needed because none of the places near me would take it. I married my wife faster than either of us intended because she had Medicaid and desperately needed to get into a treatment facility for an eating disorder, but literally NO facility would take her. We called places all over the US, it was the same story as soon as they heard she had Medicaid. As soon as she got on my insurance, she was able to get into a facility the following week. It's great that we have some programs, but honestly they are underfunded for the actual needs of the communities they're supposed to serve. We also have a big issue with not providing actual sex education to kids. There are huge chunks of this country that won't talk about safe sex, and only preach abstinence. Not saying that they shouldn't mention abstinence, but we need to make sure that kids understand how else they can protect themselves. We also need to help people not be living at the poverty line because they had a kid. Having an unexpected child shouldn't condemn you to living in poverty, but it absolutely does for a lot of people. Again, using my wife as an example: She's doing fairly well in her recovery right now, to the point where she's picked up a part-time job. However, she can't work more than 15 hours a week or she loses her SSDI, and if she relapses after she loses that we're in trouble. It's the same story for people getting SNAP/WIC/etc. If you make too much, then you lose your benefits even though you're still dirt poor. The thresholds are super close, and the programs don't incentivize people to work. TL;DR: There are government programs, but there are a TON of issues with them that you're overlooking.
There’s free birth control available at the same places that provide abortions for low income people. There’s also free birth control and actual healthcare like pap smears and disease testing/treatments at the Health Department’s that are in EVERY COUNTY in every state in the US and subsidized by the federal government as Public Health. They also do kids vaccinations and administer the WIC programs for low income kids. Condoms and pills for sure and I imagine there’s even more options. Condoms at the store are less than $1 each. There are SNAP programs, child tax credits, AFDC or an equivalent cash stipend program in every state. There is public housing that for most residents is free, there’s Section 8 that helps low income people afford to live in better neighborhoods, there’s headstart and a ton of child care credits and resources for day care. There’s public schools and afterschool programs that are ALL taxpayer funded. Not to mention that the medical costs for prenatal care AND delivery are covered under Medicaid programs and low income kids qualify for medicaid till they’re 18. All that medical care has ZERO copays and ZERO premiums for low income mothers. What else can we possibly do?
Bullshit, I can tell you at least 50 off the top of my head. I'll list just a few - VRM, PDD, ZM, DOCU, PYPL, SNAP, SQ, LCID, NKLA, INPX, GAN, LAZR, CLOV, GRWG, ZEPP, RIDE, SOLO, COIN, PSFE, ASTR, IREN, Every Cannabis stock etc etc all fell more from their highs than Bitcoin has. ​ There are wayyyyy more than that honestly. The stock market has without a single doubt been more brutal than Bitcoin. Especially with how easy it is to trade additional derivatives on these assets.
Several possible reasons: - Lots of people are still up significantly, ie. lots of room still for profit taking. - Bearish investors wishing to short it. - The trend looks nasty. Doesn’t really look like it will be able to sustain much more selling pressure. - The speculative nature of this asset class makes for very volatile trading. If it were able to surge from 4 digits to nearly 6 digits in a year, it sure as hell can come back down just as quick, if not quicker. - The utility value of the coins pales in comparison to, say, utility stocks. If people are having trouble paying their bills, they’ll most likely elect to keep the lights on rather than their crypto wallet full. - The Ukrainian invasion doesn’t look to be subsiding and the Russian economy, sadly seems to be enjoying booming oil prices. I’m no expert here, so take with a grain of salt. Someone please correct me if I’m wrong. - Whether you believe in “Sell in May, go away” or not, others may, and those investors may be content with sitting on the sidelines rather than swim in shark infested waters. - Inflation could obviously put negative selling pressure on pretty much anything, but again, the need to eat or pay rent may trump “hodling.” - Investors may choose to take a loss for a variety of reasons, possibly believing crypto currencies have lost their lustre. - And finally, like boots, or hearts, when they start to fall apart, they REALLY fall apart. cryptocurrencies could unravel, or at least that fear is there. We’ve seen these kind of downfalls a lot lately. Take the stairs up, and the elevator down. Some cryptocurrencies have hardly fallen compared to some stocks seeing 80% losses in value. Just a few that ring a bell: SHOP, DOCU, COIN, SQ, DKNG, SNAP, even NFLX got hammered lately. Basically, what I’m suggesting is that it’s entirely possible for BTC to lose 90% of its value and people still could be asking the same question. You could buy in at $20k, only for it to drop 90% from all time high to $6900, and you would be down 65.5%. That would be a tough pill to swallow. Anyway, just some thoughts. Some of those points, the opposite could be true. I just hope most people that can stomach it, will, and the people that are over leveraged, well, that’s a very tough place to be, so my heart goes out to anyone struggling with that.
Take it from an IT guy. Raspberry Pi 4 is garbage. They don't have a real BIOS. I've had two of them fail in less than a year because of issues with the 5V power supply to the USB 3.0 ports. Never had that issue with Pi 3. 15.1W on the official power supply for Pi4 isn't enough power IMO. I bet it was the SSD and USB adapter that kept frying it. I went with a normal mini PC that uses 24w of power. No more issues since then. Much cheaper than a Pi 4 kit. Beelink mini PC - quad core Celeron, 8GB ram, 128GB m.2 ssd. [https://www.amazon.com/Beelink-Processor-Desktop-Computers-Ethernet/dp/B09ZLBDVZD/ref=sr\_1\_5?crid=2MB3HDX37B69D&keywords=beelink%2Bmini%2Bpc%2B128gb&qid=1654266494&sprefix=beelink%2Bmini%2Bpc%2B128gb%2Caps%2C69&sr=8-5&th=1](https://www.amazon.com/Beelink-Processor-Desktop-Computers-Ethernet/dp/B09ZLBDVZD/ref=sr_1_5?crid=2MB3HDX37B69D&keywords=beelink%2Bmini%2Bpc%2B128gb&qid=1654266494&sprefix=beelink%2Bmini%2Bpc%2B128gb%2Caps%2C69&sr=8-5&th=1) Crucial 1TB sata ssd [https://www.amazon.com/Crucial-BX500-NAND-2-5-Inch-Internal/dp/B07YD579WM/ref=sr\_1\_8?crid=1L55LSMVY607P&keywords=1tb+ssd&qid=1654266642&sprefix=1tb+ssd%2Caps%2C84&sr=8-8](https://www.amazon.com/Crucial-BX500-NAND-2-5-Inch-Internal/dp/B07YD579WM/ref=sr_1_8?crid=1L55LSMVY607P&keywords=1tb+ssd&qid=1654266642&sprefix=1tb+ssd%2Caps%2C84&sr=8-8) That's it. I installed Xubuntu (it's faster and uses less resources than normal Ubuntu). Took out the 128GB m.2 ssd, installed the the 1TB sata ssd (you could go m.2 as well, I already had the ssd). Once Xubuntu is installed, use SNAP to install Bitcoin Core. [https://www.cyberithub.com/how-to-install-and-setup-bitcoin-core-on-ubuntu-20-04-lts/](https://www.cyberithub.com/how-to-install-and-setup-bitcoin-core-on-ubuntu-20-04-lts/) Takes a few days to sync up the blockchain. But that's it. Very simple, low power system that is more powerful, more reliable, and cheaper than those rip-off Raspberry Pi's, but no noticeable difference in power usage. The fan can be a little annoying, so place it where you can't here it.
SNAP down 42% in a day but BTC is the volatile asset. Here is my thinking, all the companies at wildly high valuations are going to be corrected with extreme prejudice. Chickens come home to roost and at that point I think bitcoin will start looking like a more and more reasonable place to retain wealth. I know we can go lower but to be hovering at $30K amidst the financial winds of shit that are raging right now is actually impressive. Also read the genesis block, if you truly believe in the vision we might be at the cusp of our first true test. Bitcoin was created to combat the corrupt financial institution. If it can prove it's salt here then bitcoin's place in the world will be impossible to ignore.
US Market Futures are down: https://www.cnn.com/business/markets/premarkets Some bad news after hours for SNAP and its down in After Hours alongside PINS, Facebook, AAPL, GOOG, Amazon, and a lot of other stuff. Looking bad. Today the US markets went up and yet BTC still went down, it would be painful if crypto sinks tomorrow without getting the pump today.
It makes sense that politicians bastardized it. It works for them in two major ways; 1. Politicians can claim their excessive spending isn't causing inflation 2. Social security payouts is tied to cpi, so the lower cpi is, the less they pay out to people on fixed incomes. Meanwhile Congress give themselves a 20% pay raise and SNAP food benefits had a 25% increase because they know the 8% number is bullshit.
CBDCs are surveillance and population control tools. Point blank, period. The Chinese CBDC is the worst case scenario, but all CBDCs will look more like that and less like what we think of as stablecoins. In an ideal world, you could trust the government to have your best interests in mind and in that world, maybe a CBDC would be net good - it would enable the government to more easily administer and support safety net programs like SNAP. But the reality is (and has been illustrated by Snowden) that even liberal democratic governments run intricate surveillance programs on its people - and that's without a tool that directly enables it.
This is true. I know people who are trapped like that. They don't earn enough to live off of, but if they earn just a little more, they are disqualified from medicaid and food assistance (SNAP). It's not a sustainable system. It needs changing.
But of course it is, I mean even snap chat has its own tokens, SNAP tokens. And right now there’s a telco company that integrated blockchain, Eli mobile, $ELITE, this is a proper crypto token in the polygon chain, it’s going to be used on another social media platform called Elisium, the platform allows a new sort of interaction between celebrities and people through content created and even NFTs. Cryptocurrency isn’t going anywhere there’s always going to be new technology and problems to be solved.
> What makes it exploitation? The fact that Amazon/Jeff Bezos have gained hundreds of billions of dollars in value while thousands of Amazon workers rely on federal welfare programs like SNAP to feed their family because Amazon doesn't pay them enough to live. The reality is when companies don't pay their workers a living wage, the taxpayers supplement that persons income so they don't die. You may respond to this, "well nobody is forcing them to work for Amazon" - not at gunpoint maybe but the reality is if you don't work, you end up starving and homeless so there is no true alternative. I'd rather companies pay their workers a living wage instead of taxpayers having to provide welfare to keep Walmart/Amazon/McDonald's workers alive but that's just me
Ok, after checking into it again, we're both correct (though I was being too snarky, sorry), it just depends which benefit you qualify for. [https://firstquarterfinance.com/ebt-cash-back-rules/](https://firstquarterfinance.com/ebt-cash-back-rules/) I was thinking about SNAP benefits, which you can only spend on certain products and can't get cash back. TANF is the one you can get cash back from.
> “so you can’t buy booze or cigarettes or something” Na convenience stores have gotten around this for years with the SNAP debit cards and will continue to do so with CBDCs. They just ring the items up as something else instead of what it actually is, or as a miscellaneous item so it doesn’t throw any flags up on the social service side. 30 pack of beer = 4 gallons of milk. Cigarettes = 1 gallon of milk & carton of eggs. The 7-11 near my house does this for people on their SNAP and welfare cards all the time.
I don't own SNAP for a reason. It's overvalued with a narrow econimic moat. My point is that there are many U.S. equities that will continue to rise. PayPal was overvalued and so was Square. I now own both after the corrections. They may go down more, but they're closer to fair value than they were. The point on Chinese stocks is that they aren't due for a pump because China controls their growth. No one wants to buy stocks that can be held back arbitrarily and I don't think people will be ready to invest in China for a long time.
Like Amazon, AMD, and SNAP recently? U.S. equities are fine. Valuations and earnings are just starting to mean more. I don't see Chinese stocks moving upward anytime soon. Not when the CCP can kill earnings reports with arbitrary fines.