A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...
So… I’m guessing the plebs get the cryptocurrencies. Which are backed by stablecoins… which are backed by tech grifters saying “I can cover it bro, trust me”.
Meanwhile the elites will take all that worthless gold and dispose of it for us.
yes but remember it artifically inflates so the amount of coal its worth is always going higher. You need way more coal to make one down than you did ten years ago.
So… I’m guessing the plebs get the cryptocurrencies. Which are backed by stablecoins… which are backed by tech grifters saying “I can cover it bro, trust me”.
Meanwhile the elites will take all that worthless gold and dispose of it for us.
Bitcoin is backed by the price of coal.
For all intents and purposes, bitcoin is effectively minted coal.
yes but remember it artifically inflates so the amount of coal its worth is always going higher. You need way more coal to make one down than you did ten years ago.
Bitcoin doesn’t relate to coal that’s still unburnt. It’s more a certificate confirming a quantum of environmental destruction.
That’s probably a better way to put it yeah.
And as fucked as it is, it is a fact that this does hold value and is backed by it.
It’s just a pretty shit thing to be backed by ethically.
But nonetheless, there is value in bitcoin, it’s just best we don’t encourage further investment in such a thing.
So it’s backed by climate change?
Yep. It’s unethical but nonetheless makes the coin actually have tangible holdings, because it’s actually impacting the real world.