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An American bitcoin reserve is worse than getting more Americans using bitcoin
879 sats \ 11 comments \ @DeltaClimbs 24 Nov bitcoin
Why tf is everyone so excited about getting nations to hold bitcoin? What is all this nonsense of "nations trading" -- nations do not trade, individuals and companies trade. The only "trade with a nation" is one that is deeply communist, and fuck those.
1 million bitcoin might cost $1 trillion, and it probably won't go forward. Instead, $42b across each American citizen would be $121 per person, payable EXCLUSIVELY via Lightning. Most people won't use it. Great, if 1 in 10 do, send $1,210 to those that do, and you will then have 34 million bitcoin stackers in America who may build businesses and support the foundations of freedom.
1 million bitcoin on the Treasury balance sheet is a large IRS and Chainalysis budget.
If the Government allows itself to add bitcoin it seizes to its reserves, it will create new reasons to seize bitcoin.
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134 sats \ 2 replies \ @BlokchainB 24 Nov
Bitcoin is for enemies as well.
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100 sats \ 0 replies \ @DeltaClimbs OP 25 Nov
I never suggested Governments can or should be stopped from owning bitcoin.
It is simply the reality that many bitcoiners now are in a position to lobby and the US Government might do something to be "pro bitcoin." I am simply pointing out there is something pro-America that could be lobbied instead of a strategic reserve that would likely lead to a vastly better outcome, and seems more realistic to achieve, so why not push for that?
Pumping at maximum possible speed at all costs is myopic and is mostly driven by people who have not been around as long and have experienced less NGU. I am among those as class of 2017, but my perspective is that bitcoin is about fixing everything, so the path actually matters. Hyperbitcoinization happening 20 years from now rather than 15 is not necessarily worse. It could end up being better. Fixing everything is a dynamic process and some sort of "equilibrium" may take many decades beyond hyperbitcoinization.
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0 sats \ 0 replies \ @MaaliMKen 25 Nov
Indeed
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30 sats \ 0 replies \ @OT 24 Nov
I remember Beautyon making a similar argument.
Whether they do the strategic reserve or not, I just hope that it doesn't tempt too many weak hands to give up their sats.
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80 sats \ 0 replies \ @clr 24 Nov
If the Government allows itself to add bitcoin it seizes to its reserves, it will create new reasons to seize bitcoin.
This is very important. Thank you. For people that cheer this "strategic reserve", it's like EO 6102 didn't happen.
First they came for Silk Road's bitcoin...
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24 sats \ 0 replies \ @gmd 24 Nov
people just want number go up
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13 sats \ 0 replies \ @standardcrypto 25 Nov
All true, but irrelevant.
Strategic reserve is needed to pump usd shitcoin.
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20 sats \ 0 replies \ @Jon_Hodl 25 Nov
I agree with you but since bitcoin is inevitable, we cannot prevent states from wielding the power of Bitcoin.
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30 sats \ 0 replies \ @a40ecaacec 25 Nov
Bitcoin is much more than just the number going up. You are basically sticking tires on a spaceship and calling it a car, or like in the beginnings of the internet, they called it a “fancy fax machine”.
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0 sats \ 0 replies \ @MaaliMKen 25 Nov
If the Government allows itself to add bitcoin it seizes to its reserves, it will create new reasons to seize bitcoin.
Firstly, do you presume individuals can have a right to hard money while the government does not?
How are you gonna stop them?
Governments are more powerful financial institutions than corporations, hate it or love it.
We cannot stop governments from enjoying individual + corporate liberties and then some, so let's analyze whether it is good or bad to champion government ownership of Bitcoin.
It's goes two ways and imo depends on how we Bitcoiners think about the state as a construct.
If we hate the idea of government and think government getting Bitcoin funding / reserves = evil, then governments will seize Bitcoin if they want, or ban and attack it if they don't want. I don't think anybody in this ecosystem wants that.
If we love the idea of government and want it to be efficient and work for our societies, like Elon hopes to do with D.O.G.E, then government getting Bitcoin funding / reserves = good. Will some governments abuse this benefit of the doubt? Yes. Can they be called out on it? Of course. It is how these democratic Republicans won the elections, right?
To end, I think states understanding Bitcoin = better governance for us all. Otherwise, prepare for CBDCs and more propaganda in the news and in the ads. And we all know it can get weirdly worse than that.
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0 sats \ 0 replies \ @nitter 24 Nov bot
https://xcancel.com/DeltaClimbs/status/1860736147460444475
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