TheDude on Nostr: Why Bitcoin and Crypto are NOT the same *for the uninitiated* Unlike Bitcoin, 99.9% ...
Why Bitcoin and Crypto are NOT the same *for the uninitiated*
Unlike Bitcoin, 99.9% of all Crypto is pre-mined or created out of thin air with huge percentages locked up for the creators, devs and team members. TRUMP coin is the latest example.
They are often aggressively marketed and pumped while the creators cash out.
This has occurred historically and shockingly with some of the biggest crypto tokens to ever exist - Litecoin, XRP, Ethereum, Cardano… and more.
Take XRP for example:
Brad Garlinghouse Garlinghouse misrepresented his financial interest in XRP by claiming to be "very, very long XRP" while simultaneously selling millions of XRP coins.
Both Garlinghouse and Chris Larsen rug pulled, dumping 1.5 billion in XRP from the escrow accounts at a discount on the speculative markets.
This is crypto in a nutshell.
So should crypto form part of a federal strategic reserve? Absolutely not.
Crypto foundations are formed on lies, deceit and grifting all done by a handful of degenerates with the aim of getting out and getting rich.
Now go and research Bitcoin to understand its unique properties as a decentralized, digital currency with a fixed supply, and how these attributes make it fundamentally different from crypto and traditional money.
Recommended reading:
- Saifedean Ammous’s book ‘The Bitcoin Standard’
- Michael Saylor’s website www.hope.com
Unlike Bitcoin, 99.9% of all Crypto is pre-mined or created out of thin air with huge percentages locked up for the creators, devs and team members. TRUMP coin is the latest example.
They are often aggressively marketed and pumped while the creators cash out.
This has occurred historically and shockingly with some of the biggest crypto tokens to ever exist - Litecoin, XRP, Ethereum, Cardano… and more.
Take XRP for example:
Brad Garlinghouse Garlinghouse misrepresented his financial interest in XRP by claiming to be "very, very long XRP" while simultaneously selling millions of XRP coins.
Both Garlinghouse and Chris Larsen rug pulled, dumping 1.5 billion in XRP from the escrow accounts at a discount on the speculative markets.
This is crypto in a nutshell.
So should crypto form part of a federal strategic reserve? Absolutely not.
Crypto foundations are formed on lies, deceit and grifting all done by a handful of degenerates with the aim of getting out and getting rich.
Now go and research Bitcoin to understand its unique properties as a decentralized, digital currency with a fixed supply, and how these attributes make it fundamentally different from crypto and traditional money.
Recommended reading:
- Saifedean Ammous’s book ‘The Bitcoin Standard’
- Michael Saylor’s website www.hope.com