Bitcoin - a decentralised digital currency

2,170 posts in this topic

5 minutes ago, Goodbye_BlueSky said:


I hear a little of "Rothschild" or "The Jews Control The World" conspiracy here. I know theoretically Central Banks are Independent.
But to say that USD, Fed, US Govt/People and USA aren't tied closely is "a very very wild stretch of reasoning". 

 

You hear what you want to hear, then. Nothing I can do about that. C'est la vie.

 

The Federal Reserve has zero transparency, and is uncontrolled by the US government. The US is dependent on the Federal Reserve, but leaping from that dependence to saying that the states themselves are illegitimate is quite the ride.

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Oh what tangled webs we weave...

 

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Who owns the Federal Reserve?

The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.

 

The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking "system" has three important features: (1) a central governing board—the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.

 

The Board—appointed by the President and confirmed by the Senate—provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. The Chair and other staff testify before Congress, and the Board submits an extensive report—the Monetary Policy Report—on recent economic developments and its plans for monetary policy twice a year. The Board also makes public the System's independently audited financial statements, along with minutes from the FOMC meetings.

 

"Zero transparency"

60dc463b9301f_ezgif-1-abaec450e6cd1.gif.

 

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Tough day.

 

Nearly $90 billion wiped off crypto market as bitcoin drops below $30,000

 

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  • Bitcoin fell below $30,000 for the first time since Jun. 22 dragging other digital coins lower.
  • About $89 billion was wiped off the entire cryptocurrency market in 24 hours as of 6:29 a.m. ET on Tuesday, according to CoinMarketCap data.
  • Bitcoin was down more than 5% while ether fell over 6% and XRP sank almost 9%, according to CoinDesk data.

 

 

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5 minutes ago, LukeSkywalker said:

Is the reason mentioned? Did Elon Musk fart?

 

 

😂😂😂

 

Global sell-off of risky assets due to COVID-19 case increases.

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The price has always been the least important part of Bitcoin.

The fact that the EU is trying to punish bitcoin exchanges (https://www.bbc.com/news/technology-57901113) at the same time as Mastercard is opening up the floodgates of new users (https://www.coindesk.com/mastercard-to-test-usdc-for-payments-as-stablecoin-scrutiny-intensifies) should be a tell that BTC is becoming a driving force in world economics.

 

The next 5 years will be very exciting for BTC, regardless of the day-to-day price fluctuations.

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On 7/20/2021, 2:27:48, LukeSkywalker said:

Is the reason mentioned? Did Elon Musk fart?

 

Ahaha! Luke, you're gonna love this!

 

Bitcoin climbs as Elon Musk says Tesla 'likely' to accept it again

 

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Bitcoin has jumped past $30,000 as Elon Musk said Tesla is "most likely" to start accepting it as payment again.

The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases.

It had cited concerns over the environmental impact of Bitcoin mining which uses huge amounts of electricity.

That move came less than two months after the company began accepting the world's biggest digital currency as payment.

"Most likely the answer is that Tesla would resume accepting Bitcoin," Mr Musk said during the B Word cryptocurrency conference.

He also said that he had been investigating fossil fuel usage in Bitcoin mining: "I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50%, and that there is a trend towards increasing that number, and if so Tesla would resume accepting Bitcoin."

 

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