At the Bitcoin 2024 conference in Nashville, Donald Trump promised the crypto community the moon. They'd better hope they don't get it.
  • wagesj45@kbin.run
    38·
    3 months ago

    Have a good time with your bitcoin and your crypto and everything else that you’re playing with, and we’re going to make that one of the greatest industries on Earth. Good luck and God bless you all.

    Probably the funniest thing he could have said to them.

    • Snapz@lemmy.world
      137·
      3 months ago

      You mean the fire doesn’t need gasoline because it’s already burning?

    • Voroxpete@sh.itjust.works
      131·
      3 months ago

      You can read it with 12ft.io

      The general thrust of the argument is this; Trump is promising to massively deregulate crypto, which is exactly the opposite of what it would need to ever be truly successful.

      To the average member of the public, crypto is a scam made of smaller scams. It is embodied by criminals like SBF and CZ. It is not a thing to take seriously. If there is any hope for it to shake off that reputation, and actually become useful for anything other than degenerate gambling, it needs to be orderly, regulated, and trustworthy. No serious investor wants a return to the days of wildcat banks and pre-depression Wall St.

      Of course, the crypto industry hates the idea of regulation, because breaking laws is the only viable use case anyone has ever found for crypto, so no one involved can actually envision what a successful and well regulated crypto industry would look like, if such a thing can even exist.

      But if something must be entirely deregulated to survive, it deserves to die.