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"Yesterday, Eric Trump and Donald Trump Jr. announced they were joining forces with a Bitcoin mining company to create a firm called American Bitcoin. Eric will be co-founder and chief strategy officer. ...
Let me remind you, in addition, that cryptocurrencies serve no useful purpose other than the purchase of other crypto assets, money laundering, extortion, and scams."
~ Robert Reich
#Trump #Musk #crypto #bitcoin #corruption #scam #oligarchy
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"As economist Paul Krugman has said, their market value rests on nothing but 'technobabble and libertarian derp.'
They also use huge amounts of energy — especially for Bitcoin mining.
Eric and Donald Jr.’s mining project is the third major crypto venture that the Trump family has started over the past year. ...
The richest people in America with huge power — the oligarchy, including Elon Musk and Trump — are enthusiastic about cryptocurrencies."
@wdlindsy@toad.social"Why are they so enthusiastic? Not only can they make fortunes, but crypto advances their long-term aim of shifting financial controls out of a democratically elected government and into their own hands. ...
Trump and his family stand to gain substantially. The rest of the economy — including, increasingly, large Wall Street banks — will be subject to large and unregulated risks. Beware."
#Trump #Musk #crypto #bitcoin #corruption #scam #oligarchy
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