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Bitcoin buying advised as US enters the ‘looting-the-treasury phase’
Coin Telegraph ^ | 3/11/24 | Martin Young

Posted on 03/11/2024 12:28:09 PM PDT by EnderWiggin1970

Two crypto influencers on X have called on their followers to snap up Bitcoin BTC, gold and silver, citing the risk of rising national debt in the United States.

In an X post on March 11, entrepreneur and angel investor Balaji Srinivasan argued that Bitcoin is the only realistic solution to escape the inevitability of unsustainable government spending and potential asset confiscation.

“We’re in the looting-the-treasury phase of imperial collapse,” the former Coinbase chief technology officer told his 994,000 followers.

Srinivasan argued that government debt and wasteful spending continue to grow rapidly at unsustainable levels. U.S. national debt is currently at a record high of $34.5 trillion, increasing 25% since 2020.

Srinivasan, a general partner at Andreessen Horowitz (a16z), said there are four approaches to the problem: Deny it is happening, fix it through political processes, give up, and “simply feed yourself at the trough,” or:

“Starve the beast with Bitcoin, which is money they can’t easily seize or print.” “The last is radical but actually realistic,” he said, adding that government deficits are now at $10 billion per day and growing.

(Excerpt) Read more at cointelegraph.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Government
KEYWORDS: bitcoin; btc; cryptocurrency; dollar; fed; ustreasury
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To: BenLurkin

It can disappear in a nano-seond. Stay away from that crap.


21 posted on 03/11/2024 12:55:42 PM PDT by Carriage Hill (A society grows great when old men plant trees, in whose shade they know they will never sit.)
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To: logi_cal869
The fact that a criminal uses bitcoin does not make bitcoin criminal, any more than a criminal using dollars does not make dollars criminal.

Really, you sound like someone whose only awareness of the dollar is from reading about bank robberies. Bitcoin is sound money with provable scarcity - unlike worthless dollars that have no scarcity and thus no long-term value.

I'm sorry your friend was scammed due to his greed (yes, that's what the Ponzi angle plays on), but you shouldn't be buying bitcoin out of greed anyway. You should be switching to it out of fear (at what is happening to the dollar).

Just buy bitcoin people. Don't buy and then give them away to some idiot telling you that you can earn 10% monthly with him. It's not the buying bitcoin that is the problem with that scenario. It was the giving it away to someone and believing in their ridiculous promises.

22 posted on 03/11/2024 1:00:43 PM PDT by EnderWiggin1970
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To: EnderWiggin1970

THE EMPEROR’S NEW CLOTHES-—ad infinitum


23 posted on 03/11/2024 1:02:07 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: Carriage Hill
Dollars listed on a centralized ledger can disappear in a nano-second because they are under centralized control. Your bank balance can go to 0 at the press of a button by the people in control.

Bitcoin is on a global decentralized ledger. So long as you keep your private key safe no one can manipulate the entry showing you (through your key) hold X bitcoin. Bitcoin is thus far, far more secure than any centralized financial system like dollars/euro/yen that can be zeroed in an instant by a hacker or a government needing to do some asset confiscation.

24 posted on 03/11/2024 1:04:36 PM PDT by EnderWiggin1970
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To: rdcbn1
Could happen, but FDR seized physical gold during the depression so not to sure how solid bitcoin will be if things go south.

And you just figured out the genius of BTC and why it is far superior to gold as a store of value.

You are required to spend exactly $0 to protect and store it and it is impossible for a government or thug to seize it from your control (unless you allow them to or you make a mistake)

25 posted on 03/11/2024 1:06:15 PM PDT by nitzy (I wonder if the telescreens in 1984 were first called "free Obamascreens")
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To: logi_cal869
I personally know someone who’s been trapped into this bitcoin Ponzi scheme

That poor, poor, son of a bitch. I bet he is feeling terrible now that BTC is at all time highs. What will he do?

You should tell him how terrible you feel for him.

26 posted on 03/11/2024 1:14:16 PM PDT by nitzy (I wonder if the telescreens in 1984 were first called "free Obamascreens")
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To: EnderWiggin1970

They just want to sell their Junkcoins before the bottom falls out again


27 posted on 03/11/2024 1:16:44 PM PDT by butlerweave
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To: EnderWiggin1970
LOL, yeah, bitcoin. Bitcoin, that's the ticket.



28 posted on 03/11/2024 1:19:54 PM PDT by Governor Dinwiddie (LORD, grant thy people grace to withstand the temptations of the world, the flesh, and the devil.)
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To: EnderWiggin1970

“simply the obvious financial collapse we can all see coming”

You forgot “...all see coming, except for Congress and the President.”


29 posted on 03/11/2024 1:21:42 PM PDT by packagingguy
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To: EnderWiggin1970

“Technically you could mail a postcard to someone with a bitcoin TX hand-written on it.”

And it would be worthless.


30 posted on 03/11/2024 1:28:47 PM PDT by TexasGator
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To: BenLurkin

Bitcoin is safe forever.

If you believe that I have some swampland to sell you.


31 posted on 03/11/2024 1:34:26 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: butlerweave

Pump and dump—even cave men can do it.


32 posted on 03/11/2024 1:35:15 PM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: EnderWiggin1970

As with gold, will there ever be a good time and advertisements saying “NOW is a great time to sell gold”


33 posted on 03/11/2024 1:37:02 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: EnderWiggin1970
Bitcoin buying advised as US enters the ‘looting-the-treasury phase’

Is there any need for the government to loot the treasury when they can print as much fiat money as they desire?

34 posted on 03/11/2024 1:47:36 PM PDT by JesusIsLord ( )
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To: EnderWiggin1970
Interesting. US fiat money vs. independent fiat currency. Which is better if the US collapses?

The real answer is physical silver, stored food, water purification equipment, firearms, ammo, remote property, and personnel to defend it all.

35 posted on 03/11/2024 1:53:30 PM PDT by AUTiger83
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To: cgbg

Bitcoin is safe forever.

If you believe that I have some swampland to sell you.

****************************

Bloated real estate valuations everywhere and suddenly “magic coin” is through the roof.

“I’m In.”(sarcasm)


36 posted on 03/11/2024 1:54:18 PM PDT by unclebankster (Globalism is the last refuge of a scoundrel.)
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To: EnderWiggin1970

No electronic keys are ‘safe’; you know that. Anything and everything can be hacked. The safest place for my cash would be in my Dbl-Door Cannon T65 Safe (7ft wide x 6ft tall x 3ft deep) protected by me.


37 posted on 03/11/2024 1:59:12 PM PDT by Carriage Hill (A society grows great when old men plant trees, in whose shade they know they will never sit.)
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To: Golden Eagle
“ People who talk about the CIA etc. shutting it down are blathering nonsense”

People who think the CIA is a reputable organization that plays by the rules is an idiot. The CIA kills people wholesale, destabilizes governments, runs coups, and supplies weapons to our enemies foreign and domestic, taking your BC or perhaps killing you thus preventing you from using your BC is completely is the realm of possibility. BC is a scam, heck paper money is a scam too, pick yer poison.
38 posted on 03/11/2024 1:59:30 PM PDT by The Louiswu (Pray for Peace in the world.)
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To: EnderWiggin1970

And when the Treasury Secretary issues the regulation that owning BTC is defined as “money laundering” (which he already has the authority to do) with a million dollar fine and a mandatory ten year prison term?


39 posted on 03/11/2024 2:03:53 PM PDT by Jim Noble (Assez de mensonges et de phrases)
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To: montag813

“ when in a safe location”

By the time you need to do that, there will be no safe locations.


40 posted on 03/11/2024 2:06:16 PM PDT by Jim Noble (Assez de mensonges et de phrases)
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