Posted on 04/05/2023 7:19:59 AM PDT by Twotone
“We encourage it, we advance it. But I would say we provide the platform … for those involved in Bitcoin to make sure they have a place to come to.”
The above words spoken by Texas Governor Greg Abbott are a clear reminder of the sheer power hidden within the varying components of Bitcoin that allow the system to organically steer a state or nation into a realm of independence and ethical, fiduciary responsibilities for its citizenry.
Combining the American spirit of the "shot heard round the world" in 1775 and "Remember The Alamo" in 1836, Texas has an opportunity to obtain absolute state independence through mathematical independence thanks to the "block heard around the world" in 2009. This is my analysis of the characteristics of Texas, the effects of historic events and how, through Bitcoin, Texas can become completely sovereign. The Lone Star State
Texas is one of the most fascinating states in the union. Starting with the Texas Revolution's use of the "come and take it" flag, as an emboldened and outnumbered Texan rebel group won the Battle of San Jacinto to claim Texas independence, the state has always had a spirit of freedom.
Texas then became the Republic of Texas, electing Sam Houston as its first president and proudly flying the Lone Star flag representing itself as its own country. By 1846, Texas had been annexed by the United States and used as a beachhead for the westward expansion of the United States, culminating in the Treaty of Guadalupe-Hidalgo and a U.S. payment of $15 million to Mexico for large swaths of western territory. Texas would later secede from the United States in 1861 and side with the Confederacy during the United States Civil War.
(Excerpt) Read more at bitcoinmagazine.com ...
Texans should grow tulip bulbs—I hear they are a hot investment these days...
I don’t know much about bitcoin but I don’t like putting my money in intangible objects. I have land, gold and silver. Convince me otherwise, bitcoin fans.
Abbott can be monumentally stupid at times. This is one of them.
Texas is already under energy grid strain. The additional power usage to create various cryptocurrency doesn’t seem wise. Texas is also a warm climate, one would think these energy consumers would operate in a cooler climate to help reduce cooling energy expenditure. Perhaps tax breaks and other incentives are fueling this production process.
Is there a solution to that problem?
“ethical, fiduciary responsibilities for its citizenry”
LOL! What about the ethical and fiduciary responsibility to warn citizens about a Ponzi scheme?
“The problem with bitcoin is that its value isn’t predictable.”
That all depends on the timescale. If you project it out long enough, all bitcoin tends towards being worth nothing.
The dream is dead. Get over it.
Hahah. That’s certainly a stable value.
Actually, it’s quite the opposite...not sure where you came up with that “fact.”
“not sure where you came up with that “fact.””
It’s quite simple. Bitcoin has no inherent value except novelty, and novelty doesn’t last.
Anyone “encouraging” crypto, is getting their pockets padded in the back end.
Bitcoin peaked at $61,000 in Oct. 2021
after all the FTX nonsense, you’d think it would have shrunk to near-zero ... but it’s actually still at $29,000 today
Give it time, it will get there.
Just like the USD, BTC’s value is by consensus. BTC is now the 18th-largest asset class by market cap, and climbing.
“Just like the USD, BTC’s value is by consensus.”
That’s only true if your analysis is based solely on the top-level, most superficial factor.
If you consider what factors underly the consensus, then you might see the difference between the USD and bitcoin.
Oh, I see the difference all right: scarcity, which USD lacks.
I dabbled in some crypto exchange stuff lately, and it really reminds me of when I did some online casinos back in the day.
They instantly take the money, give ‘bonuses’ and then refuse to let you take it out with month. And I had to send them more into than I did to get my Driver’s License too.
The learning curve on this and general shadiness is its ruin.
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