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Apr 8 - Peter Thiel: China Using Bitcoin as a ‘Financial Weapon’



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 1 week ago '11        #1
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Apr 8 - Peter Thiel: China Using Bitcoin as a ‘Financial Weapon’
 

 
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Peter Thiel, billionaire venture capitalist, and PayPal co-founder advised the U.S. government to consider tighter regulations on cryptocurrencies.

Thiel made these comments after he expressing worry the Chinese are using bitcoin to corrode the U.S. financial system.

Bitcoin boogeyman

Thiel gave his more-than-skeptical sounding comments at a virtual roundtable for members of the Richard Nixon Foundation on April 7.

“Even though I’m a pro-crypto, pro-bitcoin maximalist person, I do wonder whether at this point, bitcoin should also be thought [of] in part as a Chinese financial weapon against the U.S,” said Thiel.


Thiel’s comment on the potential use of bitcoin as a “Chinese financial weapon” was followed by his forecast of its threat to fiat money and the U.S. dollar specifically.

This comes as China recently trialed its central bank-issued digital currency (CBDC). According to Thiel, this “internal stablecoin” will amount to nothing other than, “some sort of totalitarian measuring device”. However, he did urge U.S. policymakers to consider these crypto-forward moves from a geopolitical point of view.

Taking a stand

This is not the first time Thiel has leaned skeptical towards China. In late 2019, the venture capitalist repeatedly backed the San Francisco-based startup, Layer1. This was a bid to elevate the U.S. as a mining hotbed against the Chinese and its bitcoin mining monopoly.

Thiel isn’t the only one to take a stance against China’s potential intentions with digital currencies. Recently, celebrity investor and chairman of O’Shares ETFs, Kevin O’Leary, refused to accept any bitcoin mined in China.

Although O’Leary did not specifically call China’s crypto frenzy a threat to the U.S., he was sure to recall out the human rights abuses committed by China and its continuing trade war with the U.S.

Peter Thiel has a reputation for being a political firebrand. The ball is now the court of policymakers and legislators to decide how to proceed.

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Top 10 most slapped recently  1 week ago '20        #2
Xiox  topics gone triple plat - Number 1 spot x1
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Stop spreading propaganda
+13   

 1 week ago '05        #3
Emperor85 
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the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
+21   

 1 week ago '21        #4
MrDoubtfire 
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This is pretty ballsy of a guy who's company he founded just started offering the ability to purchase crypto...wtf is in it for him
+11   

 1 week ago '20        #5
Notpapi  topics gone triple plat - Number 1 spot x39
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“PayPal”

Yea this guy doesn’t have an agenda
+10   

 1 week ago '19        #6
pharoahX 
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slapped. The US doesn't need help fu*king up their financial system. House of cards imo but hey keep printing money and bailing out/undertaxing wealthy corporations.
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 1 week ago '17        #7
1Oh 
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The world will move forward with or without the dinosaurs running America.
+12   

 1 week ago '04        #8
d.c. supreme  topics gone triple plat - Number 1 spot x1
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 MrDoubtfire said
This is pretty ballsy of a guy who's company he founded just started offering the ability to purchase crypto...wtf is in it for him
 d.c. supreme said
yeah thiel might as well be part of the department of defense at this point. the guy who invented the occulus rift palmer luckey got kicked out by zuckerberg when facebook bought it because of his trump fandom like thiel so thiel scooped him up and they're doing drones for the DoD now to combat chinese drones. palmer luckey's sister? ginger luckey who's currently engaged to matt gaetz another trump stan can't make this sh*t up.
kind of like elon musk he's basically a u.s. government contractor these days. i forgot to mention palantir another one of his companies which is contracted by the DoD too.
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 1 week ago '17        #9
DavidTheMan 
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lol, his statement makes no sense at all.
You could literally say China and Russia are using gold and russia as a financial weapon. lol
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 1 week ago '18        #10
antisocial100 
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Yo I’m tired of these old mfers. Like really get out of the way and let the youth /next generation make some change. These old mfers get wet dreams about writing down things with pen and sending mail to the post office
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 1 week ago '16        #11
Eastcoast 
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Good time to have Black allies in other nations. Anyway, if you in the game and making bank, pay them taxes.
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 1 week ago '05        #12
Fauby  topics gone triple plat - Number 1 spot x1
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 Emperor85 said
the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
This. America is being run by old men that don't understand the future. America needs a president that's 37-45 ish next.
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 1 week ago '04        #13
ItAlY2BkLyN 
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Bitcoin is a threat to fiat, but it's not China. That's just fear mongering with a scapegoat boogyman.

Many wars were started over the petrodollar. These dinosaurs can't adapt and fear losing control. But with Bitcoin, it's not losing control to China. It's losing control to We the People. Which is even more terrifying to them.
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 1 week ago '04        #14
skillahmang 
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Wouldnt be surprised

China not playin fair

Top 10 most slapped recently  1 week ago '20        #15
Xiox  topics gone triple plat - Number 1 spot x1
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Why is Uncle Sam or the man always stirring up shyt
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 1 week ago '20        #16
CopyCat 
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That's how Modern White Supremacy works Mr. Peter Thiel.
Using money as weapon means keeping people you don't like in abject poverty while and exploit them perpetually. Or the Rich getting richer while the poor miserable Blacks are incarcerated in permanent poverty. Quite frankly, I don't give a damn than China is using bitcoin as a weapon because you (the West) taught how to do it and you're just mad now that it's someone non-White who's doing it.


Last edited by CopyCat; 04-08-2021 at 02:43 PM..

 1 week ago '04        #17
datboy|e 
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 CopyCat said
That's how Modern White Supremacy Mr. Peter Thiel.
Using money as weapon means keeping people you don't like in abject poverty while and exploit them perpetually. Or the Rich getting richer while the poor miserable Blacks are incarcerated in permanent poverty. Quite frankly, I don't give a damn than China is using bitcoin as a weapon because you (the West) taught how to do it and you're just mad now that it's someone non-White who's doing it.
Sound like a true broken broke man
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 1 week ago '07        #18
GrezyNclean  topics gone triple plat - Number 1 spot x4
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 DavidTheMan said
lol, his statement makes no sense at all.
You could literally say China and Russia are using gold and russia as a financial weapon. lol
I dunno about gold but it's been proven both countries use American real estate, social media, debt, and our own currency as financial weapons against us.

With that being said as a big bitcoin supporter he's right, the US dollar is the dominant force and pushing people away from it to ANYTHING ELSE weakens us so makes sense

Top 10 most slapped recently  1 week ago '12        #19
TrillSwag 
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America should start mining it full time because he ain’t lying China definitely is doing it full throttle. But we’re China’s number one trade partner so if Americans helping China get rich is a threat to America we shouldn’t be trading with them or letting mega conglomerates set up shops out their like Nike and apple etc
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 1 week ago '17        #20
DavidTheMan 
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 GrezyNclean said
I dunno about gold but it's been proven both countries use American real estate, social media, debt, and our own currency as financial weapons against us.

With that being said as a big bitcoin supporter he's right, the US dollar is the dominant force and pushing people away from it to ANYTHING ELSE weakens us so makes sense
No it hasn't been proven. lol.
the mismanagement of the dollar by the Fed reserve pushes people away from the dollar, not alternatives.

 1 week ago '20        #21
CopyCat 
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 datboy|e said
Sound like a true broken broke man
I'm talking about how the West unfairly uses the monetary system to attack countries it disagrees with. For example, I hate how the United States gives loans to African countries only on the condition it has to pass LGBTQ legislation and if those countries don't America refuses Aid.
What does pushing homos*xuality have to do with helping the undeveloped world and why does America only help unless if you accept homos*xuality??
It's White Supremacy vs The Yellow Superpower so I really don't care who wins or loses.


Last edited by CopyCat; 04-08-2021 at 02:54 PM..
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 1 week ago '15        #22
PolygonMafia 
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 Emperor85 said
the US caught lacking on Bitcoin while the rest of the world was taking it serious and mining for Bitcoin
I wouldn’t be too sure about them missing the boat..

The alphabet boys have sh*tloads of confiscated crypto. Like waaaay more than they let on. Probably used as a black-area slush fund. Why waste time mining it when you can just steal it from all the people in your prison state?
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 1 week ago '20        #23
garrywithtwors 
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 MrDoubtfire said
This is pretty ballsy of a guy who's company he founded just started offering the ability to purchase crypto...wtf is in it for him
It's just a warning/nudge to the US. Tellin em they better get more involved in the crypto space and take it serious. Meant to increase that fomo. Saw it this morning on CNBC and Pomp was talkin bout it

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 1 week ago '04        #24
Burym3ag 
Props total: 2006 2 K  Slaps total: 183 183
Sometimes I think, who owns bitcoins. The value of bitcoins have shot up. but think about the guys who held it back then, criminals, shady people etc. Now their little bounty of coins is worth billions. It can be definitely used as a weapon if it goes central or certain places allow purchases. Someone with a lot of BTC can do damage in the world.

 1 week ago '07        #25
GrezyNclean  topics gone triple plat - Number 1 spot x4
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 DavidTheMan said
No it hasn't been proven. lol.
the mismanagement of the dollar by the Fed reserve pushes people away from the dollar, not alternatives.
Debt & US Dollar Example
Go watch To Big To Fail it explains how China owns tons of our debt. It's about the 2008 financial crisis






Real Estate Example (just one example) - hint Trump admin didn't stop it


Social Media
Russiagate obviously in 2016 with Facebook and Twitter. Don't think I need a link for that one
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