Jan 23 (Reuters) – U.S. President Donald Trump on Thursday ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency stockpile, making good on his promise to quickly overhaul U.S. crypto policy.
The much-anticipated action also ordered that banking services for crypto companies be protected, alluding to industry claims that U.S. regulators have directed lenders to cut crypto companies off from banking services – something regulators deny. The order also banned the creation of central bank digital currencies in the U.S. which could compete with existing cryptocurrencies.
In another key action pushed for by the crypto industry, the U.S. Securities and Exchange Commission late on Thursday rescinded accounting guidance that had made it very expensive for some listed companies to safeguard crypto assets on behalf of third parties. The crypto industry said that guidance had stymied digital asset adoption.
On the campaign trail, Trump courted crypto cash by pledging to be a “crypto president” and promote the adoption of digital assets. That is in stark contrast to former President Joe Biden’s regulators which, in a bid to protect Americans from fraud and money laundering, cracked down on the industry, suing exchanges Coinbase, Binance and dozens more, alleging they were flouting U.S. laws. The companies deny the allegations.
Thursday’s order was cheered by the crypto industry, which had been pushing for the new administration to send a strong signal of support in Trump’s first few days in office.
“Today’s crypto executive order marks a sea change in U.S. digital asset policy,” said Nathan McCauley, CEO and co-founder of crypto company Anchorage Digital.
“By taking a whole-of-government approach to crypto, the Administration is making a significant first step toward writing clear, consistent rules of the road.”
If implemented by the relevant regulators, Trump’s order has the potential to push cryptocurrencies into the mainstream, regulatory and crypto experts said. It follows Tuesday’s SEC announcement that it was creating a taskforce to overhaul crypto policy.
in case you didn’t have time to read the above in its entirety, here’s the important part:
If implemented by the relevant regulators, Trump’s order has the potential to push cryptocurrencies into the mainstream, regulatory and crypto experts said. It follows Tuesday’s SEC announcement that it was creating a taskforce to overhaul crypto policy.
An exciting new acronym is headed to the CBS network, Speaker Johnson created a subcommittee to re-investigate the Jan 6 insurrection, Republican congressmen are worried their sexual texts to Cassidy Hutchinson might be revealed, and the CBS affiliate in Milwaukee fired meteorologist Sam Kuffel after she posted on Instagram about Elon Musk’s televised Nazi salute.
Ronny Chieng dives into Trump’s first week: DEI snitches, affirmative action’s rollback to 1965, and a block on a “blatantly unconstitutional” executive order. Plus, Al Madrigal joins to discuss an enemy greater than immigrant violence: face tattoos.
How do you stockpile something that does not exist? A similar argument could be made of the current U.S. currency, except there are stores of precious metals that are a minor percentage of the papermill output.
This morning one of my cousins in Finland, maybe Estonia, found a LGBT FB post regarding the Right Reverend and how she took Matthew Shepard’s remains into the National Church. That combined with reports of how horrible sfb is to the Right Reverend is beyond what is comprehensible in Europe. She asked what many around the world ask and it is a question of how to ask the question which is “what is wrong with America”. Not exactly how she put it, translating from Finnish to English and the nuances of it, along with not understanding what IS happening here.
I do not have an answer for her, yet. I do not have an answer for myself. Yesterday 2025/sfb shut off passports for Transgender people. Another step in making us non-people. I suppose that can be used as a way of asking for asylum in another country though. Things like this make it difficult to know what is happening.
Our, hers and mine, grandparent, uncles, aunts and others fought the Soviets and ultimately nazi in WWII. The Europeans know very well what the nazi did to much of Europe and western Asia. That it could return, but in the U.S. is what is so hard to grasp, for me and her.
The value of all currencies is based upon the faith of others in its reliability which is why exchange rates against others go up and down. Currently the Dollar is backed by “the full faith and credit of the United State” and is strong in relation to other global instruments even if all the gold in Fort Knox doesn’t quite cover the issued dollars. Throw Crypto into that pot with all the doubts that exist and you are asking for a crash in that faith in reliability.
At some point, we will all be forced to fork over our own real money to prop up the dear leader’s facade and fakery. This is like the selling of indulgences by the Middle Ages Church, money for empty promises, that’s how the church got so rich.
I understand a bit about our currency; you know paper dollars. From 1933 until 1971 the dollar was backed by gold; at least that’s what we were told.
Today the dollar is backed by nothing more than being told it is “good stuff” and something about “in God we trust.” Which God is it, there are quite a few?
With the dollar, I have been told on the printed currency paper to trust in God. One bit coin is worth over $100,000 dollars in ideological trust.
If I found a bit coin, as I find pennies lying about, can I take that bit coin and cash it in for paper dollars? Are there bit coin pennies, nickels, etc, and how much are they worth?
Do bit coins even exist as I have seen in photos. How big is it, what is it made of; maybe tin?
During the 1800’s pennies were made of steel (I actually have one, I found it while metal detecting for Civil War stuff), and during WWII pennies were made of a steel alloy.
I’m told the value of a bit coin is an “ideology;” well now, God is an ideology.
I did some checking and learned about this ideology, and that I can buy a fraction of a bit coin. So, if I want a dollars worth of bitcoin I get $0.0000097 worth of a bit coin.
Do I get a piece of paper that says I have $0.0000097 bit coin to spend? Maybe the bit coin paper will say I can trust in God.
I understand the dollar, but must admit I am just too darn dumb to trust or understand a bit coin.
Lots of smart people on here so maybe I’ll post this on FB to see what they think.
Back to a president lying about disasters. This is how he got a million Americans killed by COVID. Trump on LA wildfires: “It could’ve been put out if they let the water flow, but they didn’t let the water flow. And they still haven’t for whatever reason.”
Sprinkle Stuff
4 hours ago
a single bitcoin is/was established after the execution of calculations of prime numbers, then logged, the log is public as is the transactions of the “coins”
”memecoins” are purely arbitrary, representative of nothing, and are like trading cards, they only have value if people want them, and then their value purely based on hype, it’s a shell-game
These fucks are gonna steal everything you ever worked for
Nice job, you stupid fucking trumpers
Last edited 4 hours ago by Sprinkle Stuff
Sprinkle Stuff
4 hours ago
When a pimply-faced lazy kid can get richer running crypto scams from his mother’s basement than someone can working hard to establish a real business producing goods and services, there is no incentive to strive, and the system collapses
You said you didn’t want socialism, that will be the end result
I liken crypto to Chuck E. Cheese coins. Good luck getting everyone to accept its value, and hope the mouse doesn’t close its doors. It’s also terrible for the environment.
“Neighbors of Bitcoin Mine in Texas File Nuisance Lawsuit Over Noise PollutionThe incessant humming sound from thousands of fans cooling off computers that mine Bitcoin has enraged the community.”
Sprinkle Stuff
4 hours ago
i almost want to live long enough to see the dumb trumpers lose everything and then cry and whine like they do, gonna be so entertaining
Musk’s drone armies, that he has already built, will be stationed to make sure you and your grandkids stay in your slums
Trump: “Zelenskyy, I will say, he wants to settle now. He’s had enough. He shouldn’t have allowed this to happen either. He’s no angel. He shouldn’t have allowed this war to happen.”
“Cryptocurrency scammers victims of cyber-slavery”
“…approximately 27 Filipino nationals were rescued from a cryptocurrency scam, a form of cyber slavery, in Cambodia. The scam was masterminded by three Chinese and one Malaysian and is part of a growing human trafficking issue connected to online scamming broadly, or pig butchering.”
“Reports from survivors continue to emerge as more of these operations are exposed. Many relay instances of being beaten, starved, or made to hit one another, working up to 18 hours a day, being forcibly injected with methamphetamine to increase productivity, and subject to physical abuse and torture if they failed to scam people.”
If Wilbur Ross knows FFFF well, the last of the big campaign promises – maximum tariffs – bites the dust (at least according to Wilbur). SOMEONE must have explained tariffs to the FFFF at the 3rd grade level so he’d understand it (Wilbur says he does, and also says the threat of high tariffs does the trick – I’m not so sure).
Thanks Poobah for posting my drivel on Trail Feed. When the current workload crush subsides I’ll post a couple or three actual recipes that my Mama (who hated it when I called her that), Memaw and Mamaw passed along.
In some ways the owner of a bitcoin is searching for a greater sucker than he was. BTW, finding that sucker is the goal of all speculation. Cripto is all about speculation.
The cripto folks try to promote their product as just like gold, without the storage fees. In some ways it behaves like a commodity. Which shouldn’t be surprising as all commodity trades are just notations in a spreadsheet somewhere. No seller of wheat ever delivers any wheat to the buyer, they just settle up their bets at the end.
Now cripto may behave like gold but it isn’t gold. Gold actually has a real value in that it is shiny, makes good jewelry and doesn’t corrode and turn your fingers green. Not that most owners of “gold” have very much of the metal laying around. Their gold is just notations somewhere.
Now about those dollars. They are backed by the “full faith and credit” of the USA. They are a debt obligation, don’t believe me just take out a dollar bill and read it. It says so right there. The problem is very few of us carry any real currency most of our dollars are notations somewhere. There are way more dollars owned then there are dollar bills out in circulation.
Are we getting a pattern here? It is depressing but almost all my net worth is little more than fantasy, Notations somewhere.
My fear is this structure we have created is way more frail than we can imagine. What worries me about Trump isn’t that he is a vulgar racist, who is serial rapists, but that he is stupid enough to tear down this frail structure.
Trump is a monster. Dr. Anthony Fauci had his government security detail revoked Thursday afternoon, sources told @ABC News. He has now hired his own security detail following the cancellation.
Jack… I’d bet good money that you aren’t the only one worried about the frail structure. Hopefully the people on Wall St. can get through to the blithering idiot. Rick and I worked hard for what we have (as well as many others). Sure hate to lose it all.
Sprinkle Stuff
2 hours ago
the billionaires aren’t building bunkers because they have alot of faith in each other
“President Donald Trump moved quickly to remake the Department of Homeland Security Tuesday, firing the heads of the Transportation Security Administration and Coast Guard before their terms are up and eliminated all the members of a key aviation security advisory group.”
How did I miss this? Folks, even if you’re brave enough to fly, I’m not sure they’ll let us out.
Pat
About your question yesterday. The gingerbread was my creation. Mrs Jack liked gingerbread and as many women in her generation she was completely dependent on cake mixes. I don’t remember which brand she thought was best but the stores quit carrying it and she didn’t like the ones they carried. So, I took it as a challenge to recreate it for her. As to frosting, she agreed with me, good cake doesn’t need anything. I’ve not put frosting on a cake in years, Although warm gingerbread with a bit of spray fluff isn’t bad.
One thing about the cake recipe I forgot to ad It is made for country ingredients and store bought heavy cream is a bit too thick, I usually add a bit of milk to the batter to make it right.
I’ve gone retro.
Last fall I canceled netflix and 2 other streaming services,
For Christmas I bought myself a dvd player and have been buying used dvds on ebay. most for under $5, some for under a dollar. I figure by the end of next year I will have a nice little library of my favorite movies to see when I want. Unlike music, which I only stream now, I have to take what the streaming services offer and there is no centralized place to view what I want when I want. So going retro works.
For tonight, the mailman just delivered, the original version of The Producers by Mel Brooks,
Life is good
jack, thanks for the recipe. you’re right about the store-bought stuff not being up to par with the from scratch.
sturge, that lemon sauce your ma made probably was a simple combination of butter, confectionary sugar and a squeeze or two of lemon (a real live lemon NOT the bottled kind)…. sometimes referred to as a glaze depending on the consistency.
as for the bitcoin fantasy, the string theory and the big bang are easier to understand/accept. even the mezoamerican turtle with the world on its back makes more sense..
Trump orders crypto working group to draft new regulations, explore national stockpile | Reuters
in case you didn’t have time to read the above in its entirety, here’s the important part:
An exciting new acronym is headed to the CBS network, Speaker Johnson created a subcommittee to re-investigate the Jan 6 insurrection, Republican congressmen are worried their sexual texts to Cassidy Hutchinson might be revealed, and the CBS affiliate in Milwaukee fired meteorologist Sam Kuffel after she posted on Instagram about Elon Musk’s televised Nazi salute.
Ronny Chieng dives into Trump’s first week: DEI snitches, affirmative action’s rollback to 1965, and a block on a “blatantly unconstitutional” executive order. Plus, Al Madrigal joins to discuss an enemy greater than immigrant violence: face tattoos.
And of course he’ll have feds buy his family’s new meme coins
Crypto always makes me start researching causes leading to October 1929.
Democratic lawmakers ask regulators to look into Donald and Melania Trump meme coins.. https://cnb.cx/40JD3qr
How do you stockpile something that does not exist? A similar argument could be made of the current U.S. currency, except there are stores of precious metals that are a minor percentage of the papermill output.
This morning one of my cousins in Finland, maybe Estonia, found a LGBT FB post regarding the Right Reverend and how she took Matthew Shepard’s remains into the National Church. That combined with reports of how horrible sfb is to the Right Reverend is beyond what is comprehensible in Europe. She asked what many around the world ask and it is a question of how to ask the question which is “what is wrong with America”. Not exactly how she put it, translating from Finnish to English and the nuances of it, along with not understanding what IS happening here.
I do not have an answer for her, yet. I do not have an answer for myself. Yesterday 2025/sfb shut off passports for Transgender people. Another step in making us non-people. I suppose that can be used as a way of asking for asylum in another country though. Things like this make it difficult to know what is happening.
Our, hers and mine, grandparent, uncles, aunts and others fought the Soviets and ultimately nazi in WWII. The Europeans know very well what the nazi did to much of Europe and western Asia. That it could return, but in the U.S. is what is so hard to grasp, for me and her.
The value of all currencies is based upon the faith of others in its reliability which is why exchange rates against others go up and down. Currently the Dollar is backed by “the full faith and credit of the United State” and is strong in relation to other global instruments even if all the gold in Fort Knox doesn’t quite cover the issued dollars. Throw Crypto into that pot with all the doubts that exist and you are asking for a crash in that faith in reliability.
At some point, we will all be forced to fork over our own real money to prop up the dear leader’s facade and fakery. This is like the selling of indulgences by the Middle Ages Church, money for empty promises, that’s how the church got so rich.
This is just nuts. I have tried several times to understand crypto currency, but it’s easier to contemplate infinity.
I understand a bit about our currency; you know paper dollars. From 1933 until 1971 the dollar was backed by gold; at least that’s what we were told.
Today the dollar is backed by nothing more than being told it is “good stuff” and something about “in God we trust.” Which God is it, there are quite a few?
With the dollar, I have been told on the printed currency paper to trust in God. One bit coin is worth over $100,000 dollars in ideological trust.
If I found a bit coin, as I find pennies lying about, can I take that bit coin and cash it in for paper dollars? Are there bit coin pennies, nickels, etc, and how much are they worth?
Do bit coins even exist as I have seen in photos. How big is it, what is it made of; maybe tin?
During the 1800’s pennies were made of steel (I actually have one, I found it while metal detecting for Civil War stuff), and during WWII pennies were made of a steel alloy.
I’m told the value of a bit coin is an “ideology;” well now, God is an ideology.
I did some checking and learned about this ideology, and that I can buy a fraction of a bit coin. So, if I want a dollars worth of bitcoin I get $0.0000097 worth of a bit coin.
Do I get a piece of paper that says I have $0.0000097 bit coin to spend? Maybe the bit coin paper will say I can trust in God.
I understand the dollar, but must admit I am just too darn dumb to trust or understand a bit coin.
Lots of smart people on here so maybe I’ll post this on FB to see what they think.
Pilar, I don’t even trust the stock market. Wall Street is just a Casino without free drinks.
Pogo, your guide to cooking anything now on Trail Feed. Thanks.
Back to a president lying about disasters. This is how he got a million Americans killed by COVID. Trump on LA wildfires: “It could’ve been put out if they let the water flow, but they didn’t let the water flow. And they still haven’t for whatever reason.”
a single bitcoin is/was established after the execution of calculations of prime numbers, then logged, the log is public as is the transactions of the “coins”
”memecoins” are purely arbitrary, representative of nothing, and are like trading cards, they only have value if people want them, and then their value purely based on hype, it’s a shell-game
These fucks are gonna steal everything you ever worked for
Nice job, you stupid fucking trumpers
When a pimply-faced lazy kid can get richer running crypto scams from his mother’s basement than someone can working hard to establish a real business producing goods and services, there is no incentive to strive, and the system collapses
You said you didn’t want socialism, that will be the end result
you stupid fucking trumpers
I liken crypto to Chuck E. Cheese coins. Good luck getting everyone to accept its value, and hope the mouse doesn’t close its doors. It’s also terrible for the environment.
https://insideclimatenews.org/news/04102024/texas-bitcoin-mine-neighbors-file-nuisance-lawsuit/
“Neighbors of Bitcoin Mine in Texas File Nuisance Lawsuit Over Noise PollutionThe incessant humming sound from thousands of fans cooling off computers that mine Bitcoin has enraged the community.”
i almost want to live long enough to see the dumb trumpers lose everything and then cry and whine like they do, gonna be so entertaining
Musk’s drone armies, that he has already built, will be stationed to make sure you and your grandkids stay in your slums
Also how he thinks of rape: ‘It’s her fault’.
Trump: “Zelenskyy, I will say, he wants to settle now. He’s had enough. He shouldn’t have allowed this to happen either. He’s no angel. He shouldn’t have allowed this war to happen.”
“Cryptocurrency scammers victims of cyber-slavery”
“…approximately 27 Filipino nationals were rescued from a cryptocurrency scam, a form of cyber slavery, in Cambodia. The scam was masterminded by three Chinese and one Malaysian and is part of a growing human trafficking issue connected to online scamming broadly, or pig butchering.”
“Reports from survivors continue to emerge as more of these operations are exposed. Many relay instances of being beaten, starved, or made to hit one another, working up to 18 hours a day, being forcibly injected with methamphetamine to increase productivity, and subject to physical abuse and torture if they failed to scam people.”
today’s meme…
meme #2…
imagine the Great Depression if half the country had a private arsenal stockpiled in their basement after they lost everything else
oh wait you won’t have to imagine it
If Wilbur Ross knows FFFF well, the last of the big campaign promises – maximum tariffs – bites the dust (at least according to Wilbur). SOMEONE must have explained tariffs to the FFFF at the 3rd grade level so he’d understand it (Wilbur says he does, and also says the threat of high tariffs does the trick – I’m not so sure).
Thanks Poobah for posting my drivel on Trail Feed. When the current workload crush subsides I’ll post a couple or three actual recipes that my Mama (who hated it when I called her that), Memaw and Mamaw passed along.
Interesting topic today. Some wandering thoughts.
In some ways the owner of a bitcoin is searching for a greater sucker than he was. BTW, finding that sucker is the goal of all speculation. Cripto is all about speculation.
The cripto folks try to promote their product as just like gold, without the storage fees. In some ways it behaves like a commodity. Which shouldn’t be surprising as all commodity trades are just notations in a spreadsheet somewhere. No seller of wheat ever delivers any wheat to the buyer, they just settle up their bets at the end.
Now cripto may behave like gold but it isn’t gold. Gold actually has a real value in that it is shiny, makes good jewelry and doesn’t corrode and turn your fingers green. Not that most owners of “gold” have very much of the metal laying around. Their gold is just notations somewhere.
Now about those dollars. They are backed by the “full faith and credit” of the USA. They are a debt obligation, don’t believe me just take out a dollar bill and read it. It says so right there. The problem is very few of us carry any real currency most of our dollars are notations somewhere. There are way more dollars owned then there are dollar bills out in circulation.
Are we getting a pattern here? It is depressing but almost all my net worth is little more than fantasy, Notations somewhere.
My fear is this structure we have created is way more frail than we can imagine. What worries me about Trump isn’t that he is a vulgar racist, who is serial rapists, but that he is stupid enough to tear down this frail structure.
Jack
Trump is a monster. Dr. Anthony Fauci had his government security detail revoked Thursday afternoon, sources told @ABC News. He has now hired his own security detail following the cancellation.
Jack… I’d bet good money that you aren’t the only one worried about the frail structure. Hopefully the people on Wall St. can get through to the blithering idiot. Rick and I worked hard for what we have (as well as many others). Sure hate to lose it all.
the billionaires aren’t building bunkers because they have alot of faith in each other
https://apnews.com/article/coast-guard-homeland-security-priorities-committees-trump-tsa-d3e4398c8871ada8d0590859442e092c
“President Donald Trump moved quickly to remake the Department of Homeland Security Tuesday, firing the heads of the Transportation Security Administration and Coast Guard before their terms are up and eliminated all the members of a key aviation security advisory group.”
How did I miss this? Folks, even if you’re brave enough to fly, I’m not sure they’ll let us out.
Pat
About your question yesterday. The gingerbread was my creation. Mrs Jack liked gingerbread and as many women in her generation she was completely dependent on cake mixes. I don’t remember which brand she thought was best but the stores quit carrying it and she didn’t like the ones they carried. So, I took it as a challenge to recreate it for her. As to frosting, she agreed with me, good cake doesn’t need anything. I’ve not put frosting on a cake in years, Although warm gingerbread with a bit of spray fluff isn’t bad.
One thing about the cake recipe I forgot to ad It is made for country ingredients and store bought heavy cream is a bit too thick, I usually add a bit of milk to the batter to make it right.
Jack
My mother used to pour a kind of Lemon sauce over the gingerbread.
I’ve gone retro.
Last fall I canceled netflix and 2 other streaming services,
For Christmas I bought myself a dvd player and have been buying used dvds on ebay. most for under $5, some for under a dollar. I figure by the end of next year I will have a nice little library of my favorite movies to see when I want. Unlike music, which I only stream now, I have to take what the streaming services offer and there is no centralized place to view what I want when I want. So going retro works.
For tonight, the mailman just delivered, the original version of The Producers by Mel Brooks,
Life is good
Jack
jack, thanks for the recipe. you’re right about the store-bought stuff not being up to par with the from scratch.
sturge, that lemon sauce your ma made probably was a simple combination of butter, confectionary sugar and a squeeze or two of lemon (a real live lemon NOT the bottled kind)…. sometimes referred to as a glaze depending on the consistency.
as for the bitcoin fantasy, the string theory and the big bang are easier to understand/accept. even the mezoamerican turtle with the world on its back makes more sense..