You may not have noticed amongst the flurry of executive orders right now, but Trump just signed one that banned the creation / issuance of central bank digital currencies ("digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank") in the USA! That's major news with dramatic implications for anyone in crypto - or anyone who cares about Liberty and free markets.
The BTC price chart went crazy with volatility upon the announcement this afternoon, but remained above 100,000 USD, sitting at $105k as I write this.
The daily chart is now a RIDICULOUS nonsensical mess of a pattern:
I mean, what the heck is that? I've been watching this chart since day 1, and I've never seen anything like that.
At least it appears to be bullish!?! But aside from that, all bets are off.
What do you think some implications of banning CBCDs will be on the crypto world? Are there cons as well as pros?
Gold continues to do well right now, surging to a new all-time high in Canadian Dollars today, $3982. That's $2778 USD for you Americans.
That photo is of a gold stack I just sold most of, to pay off a debt in fiat currency. I'm sad to see it gone, but it was lovely to hold it for a time, and quite nice that it appreciated rapidly while it was mine.
I look forward to bringing more good news soon. 2025 is my year! I hope it's your year as well.
DRutter
What's interesting about this is that it focuses on specifically cryptocurrency, but it doesn't limit the government's ability to utilize the Blockchain for documents. Personally, I think this is a great move by Trump as he attempts to assert that the greenback is a firm currency.
He also has declared a state of emergency at the southern border which allows warrantless seaches of Americans' properties, which is already happening. He is terrorizing whole communities. This guy is NOT one of the good guys. Beware.
I keep posting about that on ZH... a lot of blind fanboyism going on there (and everywhere). Reminds me of Obama. Or Trudeau. Everybody needs hope and change, and they'll see it just about anywhere. "4D chess" all over again. I hate CDBCs (and wokeism, and Hillary, etc), but the enemy of my enemy is not necessarily my friend.
People have come to believe that government's purpose is to protect them, and to make their lives better. They believe in saviors, too. Trump is Daddy to the brain dead zombies among us., which exist on both sides of the manufactured political divide.
What is ZH?
ZeroHedge is what most would call a conservative financial website, but it has been around for a long time, and developed into a place that was very awake and aware. The comment section is the real gem, although in recent years is subject to some censorship. But you can still find people with very valuable insights, including personal experiences to share. I'd say about 3/4 of the really deep and insightful stuff I learn online nowadays comes from the ZH comment sections. Of course, I always follow up with my own research and analysis, but it's a VERY good place to start. But everybody has their own favourite source(s) of reality-based information. I'm sure there are better, I just don't know where they are at the moment.
Trump is doing an awesome job! 💪
Trump is not one of the good guys. Warrantless searches of Americans' property is already happening, made legal by his invoking a state of emergency regarding immigration. He is violating the constitution right off the bat, trampling on our rights.
The kind of Executive orders he is passing is really making me wonder, is this man for real.
Withdrawal from WHO is also something I heard and just could not believe it. And USA sets trend for all other countries, so if he is banning CBDCs then many countries will be encouraged to that and that's a good news for the overall crypto market.
He withdrew from the WHO during the covid con, and started sending the money to GAVI instead. Smoke and mirrors, this guy. Beware.
That's what, these people can never be so straight forward and working for common people benefits
It seems that this would be more of a neutral act. If there are more cryptos (including government backed cryptos), that will create more competition in the markets and may tank most altcoins. With governments solidifying the difference between their currencies and crypto 'commodities' that will have an effect on the market, too.
I don't see this as positive or negative for cryptocurrencies as a whole. So long as Trump recognizes Bitcoin and Dogecoin, that will be enough to protect their value (or accelerate it).
The real problem here is the declaration of a state of emergency. Please remember that, not long ago, Trump issued a state of emergency declaration that robbed us of our rights to worship, gather, protest, and move about freely. He is not a good guy! While I like that CBDC are out for now, I expect worse is to follow on these heels. Controlled opposition is a very powerful population management tool!
So is learned helplessness. We have to be able to recognize a win when we get one, and not become paralyzed by thinking everything and everyone is always a psyop scam. Thankfully, good things still do happen on occasion, just as we can say "worse is to follow" about pretty much everything. In this case, we are getting what we want, no question about it. Is he a good guy, are the people back in control, is everything better now, nope.. and I'm not saying/insinuating otherwise.
they have XRP