McDonald’s and Nestlé Dive Into New Blockchain Pilot to Stop Fraud

21m
dailyhodl

Do ICO’s keep their promises? Analyzing the roadmaps of 2018’s ICOs

26m
bitcoinwarrior

Sally Ho’s Technical Analysis 18 July 2019

26m
cryptonewmedia

Sally Ho's Technical Analysis 18 July 2019

33m
cryptodaily

Central Banks and Cryptocurrencies: Natural Born Enemies, or Soon-to-Be Friends?

44m
cryptoglobe

Which One Should You Invest More? » The Merkle Hash

1h
cryptonewmedia

BTCPay Server Announces Crowdfunding Campaign for Tor Project

2h
beincrypto

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the…

2h
cryptonewmedia

Trade smarter, only on Coinbase

2h
cryptonewmedia

Coinbase Announces Three Data-Based Trading Signals for Users

2h
cointelegraph

Rebel Nintendo Scorns Sony and Microsoft With Updated Switch

2h
cryptonewmedia

EOS Price Prediction: Will It Go Up To $10 At The End of 2019

2h
nulltx

Ocasio-Cortez Criticizes Corporate-Controlled Money in House’s Libra Hearing

2h
cointelegraph

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board

3h
cryptonewmedia

Lotus is Building a Sensational Electric Hypercar » The Merkle Hash

3h
cryptonewmedia

Meltem Demirors Weighs in on ‘Shitcoin’ vs. Bitcoin – for Congress

3h
dailyhodl

Key Comments From Libra Hearing at US House of Representatives

3h
cointelegraph

FaceApp Thrusts User Privacy into Spotlight amid Russian Ties

3h
cryptonewmedia

Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

3h
cryptonewmedia

Coinbase imposes minimum deposit restriction for British users

3h
bitcoinwarrior

Coinbase Releases New Data Tools for ‘First-Time’ Crypto Investors

4h
coindesk

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the...

4h
newsbtc

Netflix Stock Implodes, Subscriber Exodus Ignites 12% Plunge

4h
cryptonewmedia

World Economic Forum Report Evaluates the Value of Blockchain

4h
cryptonewmedia

Tim Draper Slams India’s ‘Pathetic & Corrupt’ Leaders for Bitcoin…

4h
cryptonewmedia


The Best Responses to Donald Trump’s Claim That Bitcoin Is Backed by ‘Thin Air’

The cryptosphere was rubbing its hands with glee when U.S. president Donald Trump fired off a typically cantankerous tweetstorm on June 11 in which he took aim at Bitcoin, cryptocurrencies and Libra. Bitcoiners relished the sudden attention directed towards their sphere from the president’s 62 million-strong Twitter account, but took issue with the veracity of his claims. Here are 10 of the best replies.

Also read: Expert Witness in Satoshi Case Claims Dr Wright’s Documents Were Doctored

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” began Donald Trump, never one to mince his words or check his facts before hitting send. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….” He went on to take aim at Facebook’s Libra currency, asserting that a banking charter is required to engage in money transmission. Then came the kicker, draped in the stars and stripes and dispatched on the wings of a bald eagle:

We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

At that moment, several million people were exposed to Bitcoin for the first time, while 15,000 who were already familiar with the benefits of cryptocurrency took to Twitter and set President Trump right on a few matters.

To counter the second of Trump’s misleading claims (the first being that the value of bitcoin is based on ‘thin air’), one user directed the president towards a series of images dispelling the notion that cryptocurrency is criminals’ currency of choice:

Others took aim with the U.S. dollar’s diminishing value against bitcoin by linking to usdsat.com.

And then there were those who targeted broader issues, such as America’s role in causing global instability through phony drug wars, unwarranted drone attacks, dragnet surveillance and operating a de facto financial cartel.

Many bitcoiners, however, were simply content in the knowledge that ‘the virus’ was spreading, and tomorrow millions would awaken with their curiosity piqued by Bitcoin’s capabilities.

As Nic Carter, addressing the tribalistic battleground that is crypto Twitter, put it, “For one glorious moment we were united.”

What are your thoughts on Donald Trump’s Bitcoin assertions? Let us know in the comments section below.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post The Best Responses to Donald Trump’s Claim That Bitcoin Is Backed by ‘Thin Air’ appeared first on Bitcoin News.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments