BitCoin: "The Most Dangerous Project We've Ever Seen"

A former host of a podcast that I listen to had a somewhat extensive Helium setup. She lived on an island off Washington state, and after a couple of years yanked it all out because it wound up being more expensive to run than what she was making off of it. Not that she made massive amounts of cash from it, but when she figured out that it wasn't even generating enough to pay for the electricity being used by the system, she killed it.

I looked into it when I first heard about it and after checking Helium's website discovered that there were too many machines running it in my area for it to be worth the trouble. I found this somewhat surprising since I don't exactly live in an area where one thinks about cutting-edge tech being a thing but apparently, when it comes to crypto, it is.

https://www.news18.com/viral/crypto...ng-500-in-memecoin-investment-aa-9239239.html

Musk and Trump’s Fort Knox Trip Is About Bitcoin

https://gizmodo.com/sec-drops-charg...-million-into-trumps-crypto-scheme-2000569966

Likely just a coincidence that the five cryptos Trump announced to be the basis of the new crypto reserve are the five cryptos his ‘Crypto Czar’s firm is most heavily invested in.



A fortuitous coincidence.

Crypto Soars Then Plunges Following Trump’s Post About a Strategic Reserve

Sam Bankman-Fried Thrown Into Solitary Over Tucker Carlson Interview: Report

I think I've finally worked out how they're going to fuck all of us with crypto. You know how the cryptobros like to claim "It's inflation proof!" because of how only a certain number of a given coin can be created? They'll use that as an excuse for why things like debt can only be held in crypto. They'll then drive down the value of things like the dollar, thus making it harder for you to pay off that debt, since it takes more dollars to buy crypto. Since most people get paid in currency, not only do you have to deal with the devaluing of your money, but you also have to deal with all the fees and hassles of converting those dollars/whatever to crypto.

Eventually, of course, they hope to flip the entire economy over to using crypto as currency. Before you think, "Okay, so that's shitty, but we'll at least be back to where we are now in terms of not having to deal with the fees from converting cash to crypto in order to buy stuff or pay off debts/taxes." you need to remember that there's really no way to have anonymous transactions using crypto. And also that it is incredibly easy to buy/sell fractions of a cryptocoin. Think about what this implies. We're not even going to go down the whole "buying illegal substances/services route" as to why this should be concerning to everyone.

Technically, if you have something like a garage sale and make money off of it, you're supposed to pay taxes on what you've made. Now, granted, the odds of the IRS today actually coming after you for that are pretty low, since the amount of tax that you'd owe are really small, assuming they even know that you had one. It costs more to go after you for that $0.35, than they'd make from it. However, with crypto, not only can they easily discover that you've suddenly made money from a garage sale, but it doesn't cost them much at all to charge you tax on it. Or tax you for "additional income" when your buddy loans you some money. (And then tax him when you pay him back, forcing both of you to do lots and lots of work to get a refund of $0.000000005 of a crypto.) Multiply this over 330+ million Americans, and you're talking about real money. Additionally, the tax codes will all be written so that the wealthiest have the smallest percentage of their income taxed by such things. Barter's starting to look pretty good right now, if you ask me.

U.S. Housing Agency Considers Launching Crypto Experiment

Trump’s Treasury Removes Sanctions on Crypto’s Favorite Money Laundering Service

Ripple, Mt. Gox Founder Bets $1 Billion That He Can Replace the International Space Station

Sam Altman’s Eyeball-Scanning Crypto Startup Gets a New App Store

‘Ugly’ Monday Crash Warning As Sudden $1.3 Trillion Crypto Price Meltdown Hits Bitcoin, Ethereum, XRP, Solana And Dogecoin

Trump crypto soars as president offers dinner to top holders

Crypto Traders are Using Memecoins to Bet on Who Will Be the Next Pope

Bitcoin Mining Is No Longer Worth it

Caitlyn Jenner is now begging for money online after legal fallout from her memecoin

NFTs That Cost Millions Replaced With Error Message After Project Downgraded to Free Cloudflare Plan

https://bsky.app/profile/ericlipton.nytimes.com/post/3look2clxtc2b

Crypto Founder Jeffy Yu Faked His Own Death on a Live Stream

https://archive.is/SGyNx

Trump Media to Buy $2.5 Billion in Crypto to Create ‘Bitcoin Treasury’

Another Crypto Investor Arrested in Connection to Bizarre Chainsaw Torture Episode

Cop on NYC Mayor’s Security Detail Reportedly Linked to Crypto Torture Case

https://bsky.app/profile/davidsirota.com/post/3lqx3gtuvik2r