Sam Bankman-Fried: Crypto Mental

Posted by admin on Wednesday, December 14, 2022

Meaning of Sam Bankman-Fried Money Quote: saying money and finance are abundant and crypto-currency is included. Sam Bankman-Fried said:
 

 

“I have an abundance mentality. I think most things in this world are not limited resources. Money is not. Business opportunities are not. And the crypto industry is not” — Sam Bankman-Fried

 

In this quote, Sam Bankman-Fried seems to be expressing an optimistic view that resources and opportunities for growth are abundant rather than scarce. Some key points:

• He describes having an “abundance mentality” rather than one of limitation or zero-sum thinking.
• Bankman-Fried believes “most things” like money, business prospects, and the crypto industry specifically are “not limited resources” with finite potential.
• This implies he saw ample room for expanding financial inclusion through innovative products, felt opportunities were plentiful rather than competitive, and viewed crypto as primed for much further development and adoption.
• The quote conveys a mindset of possibility, expansion and win-win cooperation rather than of constraints, trade-offs or the need to compete directly over constrained pools of capital or customers.

Overall, Bankman-Fried appears to have approached FTX’s growth in a spirit of abundance rather than scarcity, which may have influenced a lax approach to risk management and oversight if downsides were not properly accounted for given this perspective.

Ted Cruz: Senators What Bitcoin Is

Posted by admin on Thursday, November 18, 2021

Ted Cruz Money Quote saying Congress members don’t understand Bitcoin enough to regulate it – but are trying anyway. Ted Cruz said:
 

 

“I doubt there are 5 members of the United States Senate who know what the hell bitcoin is. This is the truth about crypto, Bitcoin, and Congress. But Congress is trying to regulate it anyway” — Ted Cruz

 

 

This is the truth about #crypto, #Bitcoin, and Congress.

But Congress is trying to regulate it anyway. pic.twitter.com/Yxj5tXr4pE

— Senator Ted Cruz (@SenTedCruz) November 18, 2021

 
Buy Bitcoin
 

Cruz likely thinks this is a problem because regulations made by people who do not comprehend Bitcoin could have unintended consequences and negatively impact the technology. By regulating something they do not fully grasp, Congress risks passing laws that may not make sense for Bitcoin or could stifle its innovation and growth.

Donald Trump: Cryptocurrency – Not

Posted by admin on Monday, July 15, 2019

Donald Trump Money Quote saying in a series of tweets that he doesn’t believe in cryptocurrency – from Bitcoin to Facebook Libra – panning all. Donald Trump said:
 

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity” — Donald Trump

 

 

Donald Trump criticized cryptocurrencies like Bitcoin in a series of tweets in July 2019. He said he was “not a fan” of cryptocurrencies because their value is highly volatile and based on thin air, not backed by any physical assets. He also expressed concern that unregulated cryptocurrencies could facilitate unlawful behavior like drug trafficking. For Facebook’s planned Libra cryptocurrency, Trump said companies wanting to become banks need to apply for a proper banking charter and be subject to banking regulations.

 

 

“Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks” — Donald J. Trump

 

 

Specifically regarding Facebook’s Libra cryptocurrency, Trump said that if Facebook wants to become a bank, it must “seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks.” He emphasized that the only real currency in the USA is the U.S. dollar.

 

 

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” — Donald Trump

 

 

criticizing cryptocurrencies like Bitcoin and Facebook’s proposed Libra. When Trump said cryptocurrencies are “not money” and have values based on “thin air”, he was contrasting them with the dollar, which he described as “dependable and reliable”. Since the dollar is backed by and exchangeable for the credit of the U.S. government, Trump views it as a more stable store of value compared to cryptocurrencies whose values can fluctuate wildly. By stressing that the dollar “will always stay” the dominant global currency, Trump was essentially dismissing cryptocurrencies as viable alternatives to government-backed fiat money.