XPost: alt.fan.rush-limbaugh, alt.politics.trump   
   From: OFeem1987@teleworm.us   
      
   super70s wrote this post by blinking in Morse code:   
      
   > Bitcoin falls to lowest level since Trump took office   
   > Feb. 5, 2026   
   > By Kali Hays, Technology reporter   
   > BBC.com   
   >   
   > The price of Bitcoin has fallen to its lowest level in 15 months   
   > despite US president Donald Trump's personal and public support of   
   > cryptocurrency.   
   >   
   > A single Bitcoin is now worth $66,000 (48,700 pounds), its lowest level   
   > since October of 2024, with the price down 24% since the start of this   
   > year.   
   >   
   > The drop followed months of surging Bitcoin prices, which saw the   
   > cryptocurrency hit an all-time high of $122,200 in October.   
   >   
   > Investors were encouraged by Trump's involvement in the sector and his   
   > outspoken support for cryptocurrencies, as well as promises to ease   
   > legislation on the industry.   
   >   
   > Among Trump's first actions upon re-entering the White House in January   
   > 2025 was an executive order aimed at making the US the "crypto capital   
   > of the planet".   
   >   
   >    
   >   
   > Last week, the dollar dropped to its lowest point in four years.   
      
          
      
       ...I thought I’d offer three quick notes on an … interesting   
       day in the crypto market.   
      
       First, today’s price action shouldn’t change your view about   
       Bitcoin’s usefulness or lack thereof. If, like me, you   
       consider the whole thing a delusion — BTC isn’t a medium of   
       exchange, nor is it a reliable store of value — then you   
       already knew that and the fact that we seem to be having a   
       Wile E. Coyote moment isn’t information about the   
       fundamentals. (There are no fundamentals.) If you have some   
       story about why this aging financial innovation is actually   
       useful — do tell — you should HODL through the panic.   
      
       Incidentally, some readers insisted that HODL stands for “hold   
       on for dear life.” No, it doesn’t. That’s a retcon intended to   
       make it sound more respectable. The term comes from a post on   
       a crypto message board from an investor so panicked that he   
       misspelled HOLD. See link in this morning’s post.   
      
       Second, the fact that BTC is now lower than it was before the   
       2024 election is significant in two ways. It shows the limits   
       of political favor — all the boasts about making American a   
       crypto superpower, all the deregulatory talk and pardons for   
       cryptocriminals, in the end couldn’t defy gravity.   
      
       But it also means that everyone who bought Bitcoin in the   
       belief that Trump would make Bitcoin greater than ever has   
       lost money, in many cases a lot of money. So this is another   
       case of ETTD: everything Trump touches dies.   
      
       Finally, this crash may have political consequences. At least   
       some young men supported Trump because they believed that he   
       would enhance their crypto investments, and have remained   
       favorable because he seemed to be delivering. I don’t know how   
       many bitterly disillusioned bros there will be now, but there   
       will be some.   
      
       And in general the whole “Say what you like about Trump, but   
       markets are up” mindset must be under severe strain.  Are we   
       having fun yet?   
      
   --   
   	Equality is not when a female Einstein gets promoted to assistant   
   professor; equality is when a female schlemiel moves ahead as fast as a   
   male schlemiel.   
   		-- Ewald Nyquist   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)