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Watch Out! The Downtrend Channel Was Broken! 8/22/22

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24 minutes ago, fxfox said:

A year earlier, in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.“

https://en.m.wikipedia.org/wiki/Gold_Reserve_Act

Right. And what is the difference between gold then, and bitcoin now? Come on man. Use your brain. It's exactly the reason why they don't care about cryptocurrencies. Gold was money, and there was a massive run on it that was draining the US government of its gold.  BTC is not money. And nobody is demanding that their dollars be converted into BTC. It's the opposite. 

 

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14 minutes ago, DrStool said:

Right. And what is the difference between gold then, and bitcoin now? Come on man. Use your brain. It's exactly the reason why they don't care about cryptocurrencies. Gold was money, and there was a massive run on it that was draining the US government of its gold.  BTC is not money. And nobody is demanding that their dollars be converted into BTC. It's the opposite. 

 

Yes. Correct.

But I think that CB‘s watched Buttcoin a bit more closely once those firms like Microstrstegy and I think even Tesla began buying Buttcoin and took it on their balance dheet.

After all what killed Buttcoin was its „financialisation“. Once you could trade Buttcoin Futures and gling short that wss it. Like with Gold in the esrly 80s.

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