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Crypto-currency and the role it's likely to play in the upcoming American presidential election.

HonestJoe

Well-Known Member
What difference does that make?
Because you're equating reported figures for entirely different things and also the effect you're talking about would only apply to investors holding crypto, not people who just use it intermittently for making payments (in fact, they may well prefer stability over price shifts in either direction).

And what makes you think security.org is "commissioned and funded by organizations with a vested interest in promoting crypto"?
What makes you think security.org commissioned and funded the surveys? All we know is that they carried them out and reported some of the results.

Although I have a feeling I could give you a 1,000 credible sources as you would wave them all away too.
If they were just blogs and news articles repeating the same unsourced statistics then I probably would. If you have any primary research, I'd be much more interested (but then I'm a bit weird like that :cool: ).

And I'm completely baffled by how upset you seem to be over the whole issue.
I'm not upset, I just like honesty and accuracy in debates, especially in relation to important things like elections and private investments, both areas where innocent people can be easily misinformed (intentionally or not).

Regardless: literally anybody who owns crypto is going to benefit from a bull market. Period.
Again, only if they exploit that bull market. If prices go up and then later go down again, someone who just sat on their investment throughout will have gained (or lost) nothing. For someone to benefit, they'd need to sell at the top of the market and that means someone else would have to buy, thus loosing out as and when the market drops again.

Again: when he was elected in 2016 crypto went on an insane or run. Regardless of whether or not those two facts are related, most people in the crypto space are convinced that they are and are convinced that the same thing will happen if he's elected again.
I'm not convinced most people involved in crypto are that ignorant, but a lot of those openly talking about it might be. Regardless of the election results, the smart quite ones will find ways to benefit at the cost of the ignorant noisy ones.

It looks to me like you're going by your impression of what I said rather than what I actually said.
Well that's how language works. That is why accuracy and clarity is so important in this kind of discussion.
 

Quagmire

Imaginary talking monkey
Staff member
Premium Member
Crypto price is easily manipulated by farting in the right direction. And Trump is an expert farter.

It's just a species of a ponzi scheme, really.
The "holdings" don't actually have the cashreserves they need. And in as much as they do have it, most of it is just another crypto (so-called "stablecoin") which in itself actually has the same problem. Meanwhile its energy consumption for "mining" and adding to the blockchains is nothing short of insane. Bitcoin by its own already uses more energy then Finland as an entire country. It's about 0.5% of all energy consumption worldwide. It doesn't take an economic genius to realize that this is not sustainable.

It can go on for quite a while, but not indefinitely. Sooner or later, it will be over almost overnight.
Remember Madoff? The dude ran his scheme for 17 years.
The idea that crypto is here to stay "because it's been here for 15 years since bitcoin was introduced", is just wishful thinking.
And all of that would make a great topic for another thread.

This one isn't about the nature of crypto, it's about its potential influence in the upcoming election.
 
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Quagmire

Imaginary talking monkey
Staff member
Premium Member
I'm not upset, I just like honesty and accuracy in debates
Really? And does your version of "Honest and accurate" include cherry picking people's posts, quoting the parts you think you have answers for and ignoring the rest?

Rhetorical question: obviously it does.

Have fun. I'm going to stop talking to you now.
 

Quagmire

Imaginary talking monkey
Staff member
Premium Member
Anyway, just so I have this handy:

Here's an article from PEW research via The World Economic Forum that puts the percentage of Americans who own crypto at 17%; https://www.weforum.org/agenda/2023/04/5-charts-on-what-americans-think-about-cryptocurrency/

According to visual capitalist.com, 52 million American own crypto out of roughly 260 American of voting age:
 
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