the majority of the bitcoin network is owned by china because they've been pouring tons of resources into being the biggest share of the miners
it's a wonder why Elong Musk (((suddenly))) decided to buy up $1.5 billion in bitcoin. Gives china additional control over the bitcoin network, because china owns Elong.
edit: if you're looking for proof, just look into the "gigafactory" Tesla built in Shanghai with a generous business loan from the CCP of -- well wouldn't you know -- $1.5 billion!
Most of you won't like this because it goes against your fucking savior that is crypto: but bitcoin is controlled by the same jews that control banking. Crypto was devised in the 70s by the CIA. I truly wish I could find the CIA docs on this. In the end ANY digital currency is insanely retarded. You are willingly allowing your life to be COMPLETELY turned off at someone else's will. We all know who that someone else will be. This coupled with jew-controlled-oppo Niggress Owens' social credit push will mean further terrible things if this were to come to be. Also it's completely fiat.
dollar bad because it's fiat!!! crypto good because ... silence
while I don't disagree on the stupidity of crypto over fiat, I argue fiat currencies are no better than crypto.
the fact you can print fiat currency renders its use as a medium of exchange arbitrary. it's only worth anything because you and I agree it is, not because it has some measure of immutable worth.
the reason for currency standards being (in the past) based on precious metals was to ensure that only a limited supply of "money" existed at any given time, and the basis for that money could not be so arbitrarily produced (you have to fund alot of paychecks to mine more metals).
Crypto reintroduces the immutable aspect of a real currency. The problem is, it's ony immutable if no one group holds a majority share of the network. That is its flaw, and it renders the situation to be much like that of fiat currencies. Owned by ((( the juice. )))
part 2
Second reply not edit because this is important;
Think about work. Think about the idea of work. Work hasn't happened yet. Work being used to back currency is also fiat. It's just an idea. A promise. Work that backs currency hasn't happened yet. (think about it, work has happened which created value but past work is this etheral and disappearing thing that is exhausted quickly). So what did Hitler do to make sure work existed as a continuous thing? He created government projects for citizens to do which MADE work which actually, literally, truly is VALUE. Few things hold that to be true as well. Property does. Guns do :) Materials do. Oddly specifically those of little preciousness (with regards to true scarcity). Like oil, water, food...
This is why fiat based on work is the ONLY way to back a currency. As it turns currency into a meaningful representation of the most natural form of "currency" exchange ever. That being a bartering system. Work backed currency turns;
I will mow your lawn for a month and water your garden for that month for a week's worth of potatoes.
Into;
I will give you this work backed currency (literally work) for a week's worth of potatoes.
It's far easier to understand and accomplish.
part 1
I argue fiat currencies are no better than crypto.
X is no better than X
What backs the value of crypto? Oh right, it's also a fiat currency. Guess I didn't make that clear enough.
The immutability of a currency is irrelevant to control as I think you're pointing out. It's like gold. It's not 1493 anymore. Gold's value is just as fiat as the dollars. The VAST majority of gold that's ever been mined is sitting in warehouses never to see human possession ever. This is why Hitler backed the German currency and economy on work. Which is also "just an idea" as it's not yet happened. But it will happen, is immutable, is uncontrollable, and holds value regardless of any other attribute.
In the end I don't think it's feasible to back currencies with any physical and precious object. They're all mined to exhaustion or if not are necessary for things which would make the object unsuitable as a currency backer.
e: On precious items to back currency; Where do diamonds get their value? They get their value from a 1940s or something DeBeers (I think) idea of "2 months salary for your love goyim!" Harder materials (MOL hardness scale) can be created in the lab. There are rarer, more beatiful, and actually more valuable stones that exist. Most colored gems of high quality are but diamonds have this (((magical))) advertisement based value.
There are crypto credit cards now. Also I saw a video that suggested that Elon bought all that coin so that he can use it as a tax write off when it crashes because it will show a loss for the Tesla.
Why would you buy bitcoin knowing it would crash so you can do a write off. He could spend 1.5 billion on popsicles and fridges for tesla offices and it would still be 100% wrote off.
It's only a loss if he sells at a loss.
Apes strong together. Stonks and tenddies!
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