Economy Trump's April 2nd Tariffs

[Rob Battisti]

The goalposts have not been moved a single inch, the definitions are clear, you simply don't understand them


Yes, the US is a currency, gold, real estate and BTC aren't.


Who said it was illegitimate? its simply not a currency.


You are the one that keeps changing established definitions and moving the goalposts.

BTC is not used as "medium of exchange" anywhere, nobody is pricing anything in BTC which is the very definition of what a "medium of exchange is"

I am a Mesopotamian farmer, i want a slave, i sell crops for silver at a given SILVER price and then use that silver to buy a slave at a given SILVER price.

You use BTC to buy USD or another real currency or you sell BTC for a real currency.


Art? yes although has subjective value to the buyer
Gold? has practical use.
collectibles? again subjective value to buyer
Real Estate? practical use.

And an store of value all of those cost next to nothing to keep, Real Estate is probably the only one that carries a cost but then again you can rent Real Estate so it evens out.


- Currency trading is indeed for the most part gambling.
- Growth stock and Venture capitals are based on potential profits of the venture itself, if the venture fizzles out then yeah, its a loss.
-Gold has practical uses and costs next to nothing to keep.



Yup and the performance of the asset is 100% entirely dependent on people buying high and selling low, it by definition requires people to lose money.


Purchasing power isn't eroded by inflation, only if you are dumb enough to keep fiat money buried in the yard for decades.


Its the best asset, until it isn't.

My goodness. I thought you couldn’t get any dumber, but then you respond with this.

You’re confusing rigidity with clarity. Definitions evolve as systems evolve. The internet wasn’t a “real marketplace” at first either, but here we are. Clinging to textbook definitions as if they’re immune to innovation is exactly why people miss paradigm shifts.

Gold and real estate aren’t currencies, but they have both functioned as stores of value and mediums of exchange historically. So has salt. So has cattle. Bitcoin is following a similar adoption curve — not as legal tender everywhere, but as an asset that’s increasingly used for payment, value transfer, and wealth preservation.

Saying nothing is priced in Bitcoin just isn’t accurate. There are thousands of merchants that accept it directly, from global brands to local shops. Entire economies like El Salvador are experimenting with it as currency. You can dismiss those as niche, but they’re real examples that contradict your claim. That’s how new systems start — gradually, then suddenly.

Your Mesopotamian analogy is colorful, but irrelevant. Ancient silver was valuable because people agreed on its weight and scarcity. That’s exactly how Bitcoin works! I don’t understand how you daily to see this. It is digitally scarce, globally verifiable, and trustless. You don’t have to like it, but you should at least understand the parallel.

As for your argument that Bitcoin is only profitable because someone loses money…again, that’s how all markets work.

Every buyer thinks they’re paying a fair price, and every seller thinks they’re getting one. Stocks, housing, gold, and even currency exchange function the same way. If you truly believe any appreciation-based asset is inherently exploitative, then you’re arguing against the entire concept of free markets.

Saying inflation doesn’t erode purchasing power unless you bury your cash is the stupidest thing I’ve ever heard. Inflation erodes purchasing power by definition. This is why a dollar in 1950 could buy 20 times more than it does now. It affects everyone, especially the lower and middle class. That’s not a theory, that’s economic math.

You’re welcome to keep believing the current system is perfect and Bitcoin is pointless. But if your whole argument is “because the textbook says so,” you’ve already lost the plot.

If you don’t want to call it a currency because it’s not fiat, fine. It’s closer to a commodity and may one day be a ubiquitous currency alongside fiat. I doubt that will happen. Maybe that’s why you’re so upset and keep showing your ignorance. If you are better calling it a commodity that is fine with me. It’s a 2 trillion dollar — soon to be 10 trillion dollar by market cap commodity. It’s not a Ponzi scheme.

 

[Rob Battisti]

And yet i can safely say whether a brand new F-150 priced in USD is expensive or not, you can't tell the same for BTC unless you know the specific day it was priced.

Therefor BTC is not a medium of exchange, when you literally have to know how much its worth in respect to another currency to know whether something is cheap or not.

You’re confusing volatility with functionality. Bitcoin is used to transfer value every day, which makes it a medium of exchange, full stop.

Needing to check the exchange rate doesn’t disqualify it. We do the same with euros, yen, or any foreign currency. Early adoption and price fluctuation don’t negate utility, they just reflect a system still maturing.

 

[avenue94]

Curious what people think of the Trump admins idea to supplant Federal income tax for those making under 200k with tariff revenue.

Pretty big downgrade for the working class. Tariffs are a terrible way of raising money.

 

[AWilder]

I guess that could be true if its the lower class consumer who buys these imported goods.

PEople still need to eat

 

[Deorum]

I can’t help myself.

I don't know why, lol. It's not like karate forum bros are going to have even the slightest or most remote impact on pumping your bag, Battisti. It doesn't need them. If people don't like BTC, then they shouldn't buy BTC. It's that simple, and I personally couldn't give a fuck less. Next!

 

[Rob Battisti]

I don't know why, lol. It's not like karate forum bros are going to have even the slightest or most remote impact on pumping your bag, Battisti. It doesn't need them. If people don't like BTC, then they shouldn't buy BTC. It's that simple, and I personally couldn't give a fuck less. Next!

I have a problem

 

[Zazen]

If things don't turn around soon you guys think we'll start seeing riots? I don't think most Americans understand what we are in for. Don't know if it's true but heard rumors that the number of ships coming in from China is way less.

Keep in mind there's barely a safety net in this country and I read an article that people using loans to pay for groceries is skyrocketing. Yikes we are in trouble.

Up to 25% from 14% last year. Insane

https://www.newsweek.com/number-americans-using-loans-groceries-soars-2065706

 

[curryjunkie]

If things don't turn around soon you guys think we'll start seeing riots? I don't think most Americans understand what we are in for. Don't know if it's true but heard rumors that the number of ships coming in from China is way less.

Keep in mind there's barely a safety net in this country and I read an article that people using loans to pay for groceries is skyrocketing. Yikes we are in trouble.

Up to 25% from 14% last year. Insane

https://www.newsweek.com/number-americans-using-loans-groceries-soars-2065706

After the tories had been in power for a decade and the UK went full retard and voted for brexit, a vox pop became famous when a tory voter proudly declared to a reporter " we never had any food banks under labour, now we've got loads!" As if they were magnanimous for helping the poor, not the fact they created the conditions where food banks were necessary..

 

[Big Nasty Edison]

If things don't turn around soon you guys think we'll start seeing riots? I don't think most Americans understand what we are in for. Don't know if it's true but heard rumors that the number of ships coming in from China is way less.

Keep in mind there's barely a safety net in this country and I read an article that people using loans to pay for groceries is skyrocketing. Yikes we are in trouble.

Up to 25% from 14% last year. Insane

https://www.newsweek.com/number-americans-using-loans-groceries-soars-2065706

Quit frankly a trade war with China will destroy small American businesses.

There are so many small American companies that design a product then have it manufactured in China. Most things sold on Amazon are from American small businesses at already slim margins.

These tariffs of course won't hurt the Chinese factory, it's hurting the small American company just trying to sell the product they designed, patented, worked on finding a manufacturer for and just want to sell.

 

[Deorum]

If you are better calling it a commodity that is fine with me. It’s a 2 trillion dollar — soon to be 10 trillion dollar by market cap commodity. It’s not a Ponzi scheme.

That's how the Fed (Powell), Blackrock, and Fidelity tend to view it, and seems to be the best fit at the current stage of maturity. There's still a long climb to the heights you envision.

 

[PEB]

 

[Cid]

Yeah, yeah. Sure.

I've just been watching you all cry "apocalypse" at every move this admin has made to better our position in the world economy. You want us to be subservient to everyone. We should take shit deals in trade. We can't tariff imports like every other country does for reasons none of you can't articulate.

Every move we've made to strengthen ourselves has been met with tears by people like you.

Trade agreements are thousands of pages long. TPP was around 5600 pages.

You and your president are both too dumb to objectively asses them bro.

 

[PRESIDENT TRUMP]

View attachment 1092962

What am I even looking at here?

 

[pinger]

I don't think these were the high priority items America voted him in to do (even if I do appreciate the paper straw pushback. Fuck those things)

 

[Deorum]

What am I even looking at here?

 

[pinger]

You'd be happiest if China devastated us in this trade war, wouldn't you? You'd really like to see us fail just because Trump is involved. Admit it.

No one is happy we have to eat this shit sandwich. Just that some people are still pretending it's a delicious bacon sandwich

 

[Seano]

No one is happy we have to eat this shit sandwich. Just that some people are still pending it's a delicious bacon sandwich

Not really what I said. No one "likes" the idea of these tariffs, some feel they are kind of necessary and some are more worried about how it'll affect foreign nations than ourselves.

Lets be real, 99.999% of the outrage is partisan BS.

 

[Neph]

Not really what I said. No one "likes" the idea of these tariffs, some feel they are kind of necessary and some are more worried about how it'll affect foreign nations than ourselves.

Lets be real, 99.999% of the outrage is partisan BS.

It's parsian bullshit not to be outraged by this.

Trump should be able to secure the borders and put an end to the woke DEI bullshit that has infected the country. I suspect for a huge number of voters that was a breath of fresh air and the reason for their vote. It would be nice, however, to accomplish those goals without this insane economic self immolation.

 

[Seano]

It's parsian bullshit not to be outraged by this.

Trump should be able to secure the borders and put an end to the woke DEI bullshit that has infected the country. I suspect for a huge number of voters that was a breath of fresh air and the reason for their vote. It would be nice, however, to accomplish those goals without this insane economic self immolation.

How is it partisan for me to want you to have more?

 

[Neph]

How is it partisan for me to want you to have more?

I think it's ignorance and silly internet memes that make you think that.