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One thing that's newsworthy: Powell made some comments about how banks should be able to interact with crypto. The tone shift is astounding. A visitor from another world would think this "crypto" thing is just another boring monetary type that the Earthlings care about.
One thing that's meta-newsworthy: the brave bitcoin media culture is too chickenshit to actually quote the guy. Here's how bitbo reported it:
We think banks are perfectly able to serve Bitcoin customers as long as they understand and can manage the risks, ensuring safety and soundness.
It's reasonable (and even, imo, correct) to think that crypto is a giant graft, and to want nothing to do with it. But it's actually, like, consequential to know how these topics are being talked about in the world, especially when it's the Fed Chair doing the talking.
More than that, this censorship is coming from folks who I am sure would describe as free speech maximalists or something of the kind. Pretty gross. If bitcoin is for real, we don't need to lie to the world when we talk about it. There are consequences to being a liar. It does not go unnoticed.
Btc isn't XRP. Or at least, it shouldn't be.
There are consequences to being a liar. It does not go unnoticed.
Just want to highlight that line, for anyone who may have skimmed past it.
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35 sats \ 0 replies \ @kepford 14h
We swim in a culture of lies. Speaking truth is the best way to stand out.
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Bitcoin doesn’t need lies. It doesn’t need spin. It stands on its own. But if its loudest voices start twisting facts, they make it seem weak.
If Powell is changing his tune, that matters. Love the Fed or hate it, his words shape the game. Ignoring them won’t change that. And when the so-called free speech crowd censors, it stinks of fear.
Truth is simple. Report it straight. If Bitcoin is real, it can take the heat. If it can’t, then maybe it’s not what we thought.
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that's true, but by the way are you angry?
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Preach.
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108 sats \ 0 replies \ @kepford 14h
we don't need to lie to the world when we talk about it. There are consequences to being a liar. It does not go unnoticed.
When people claim to have strong conviction about something but then frame it in a dishonest or unfair way they expose their inner insecurity about their conviction. I've noticed this among some of my Christian brothers and sisters. Being defensive or using straw man arguments as bitcoiners doesn't show strength.
Most criticisms of bitcoin are pretty weak and have been shot down long ago, not talking about that. I'm talking about acting like the purchasing power isn't volatile. Or like certain actors in the space don't matter when they clearly do.
I think this kind of reaction signals weakness and insecurity.
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21 sats \ 3 replies \ @kepford 14h
Maybe I need coffee but what is the issue with bitbo's quote?
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Powell's comments were all about "crypto". (He mentioned bitcoin by name, bc the question was about bitcoin, but then the rest of his answer was about crypto.) Bitbo is whitewashing the fact that bitcoin has no particular prominence (vs "crypto") in the public discourse -- it matters a lot to bitcoiners, but the world at large isn't making the distinction.
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108 sats \ 0 replies \ @kepford 11h
Ah! Yeah this is actually very common in bitcoin "only" focused media.
I wonder if this isn't a consequence of maximalists getting triggered by the word "crypto". I'm with you. Give it to me straight without the whitewashing. I can take it. I'm not a snowflake.
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27 sats \ 0 replies \ @kepford 11h
We are gonna see MASSIVE shitcoining over the next few years. A few years ago I just realized they will always be with us because humans are greedy, like to gamble, and don't learn their lessons from history.
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I adopted Tom Luongos thesis maybe even back in early 2022, since then everything has made sense.
The owners of the Wall Street banks and the FED essentially understood around then that if they let the WEF/NWO demons take over then they would be next up, with almost all private banking in the US going down.
Is there a direct collaboration between Powell and Trump now? Maybe, or maybe they are just fighting in ways that overlap.
Either way its the WEF, EU and Euro that is the target, so watch for signs of these cracking up and ultimately failing...
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0 sats \ 0 replies \ @flat24 9h
Btc isn't XRP. Or at least, it shouldn't be.
Of course not, they don't look alike even a little bit.
Once the detractors of Bitcoin have left the White House and when the current inhabitant launches a meme coin, it is only the starting whistle that announces the advancement and adoption of cryptocurrencies in the entire traditional financial sphere. Then it is normal that we now see these characters mentioning good things about the crypto world. And with this new law that allows banks to be custodians of your bitcoin or your XRP, or USDT or any cryptocurrency you own, it is even more visible that they must change their tone regarding the world of cryptocurrencies and their holdings.
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They keep spinning the narrative as if people still needed banks and TradFi to own and use Bitcoin.
Who the fuck even is a "Bitcoin customer"?
They know they're getting obsoleted and they're desperate to stay relevant. Like Project Managers in the world of Agile.
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