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455 sats \ 15 comments \ @siggy47 6h bitcoin

I was just sitting around day dreaming about the opportunities for those in power to execute a Pelosi style insider trade in bitcoin or the shitcoin de jure. Imagine knowing in advance the exact moment, say, a friendly bitcoin executive order will hit the White House website, or even the announcement of a strategic bitcoin reserve?

Conversely, a few big, fat, limit buy orders way below the market price could be placed right before a press release announced the delay and reconsideration of either of those issues. So far as I know there would be nothing illegal about this scenario, but I'm not 100 percent sure.

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41 sats \ 0 replies \ @SatsMate 2h

Getting close to the circle of power helps, but long term bitcoiners with conviction are way ahead!

41 sats \ 0 replies \ @grayruby 2h

82 sats \ 0 replies \ @kepford 6h

No doubt that will happen. Hadn't thought about it though.

41 sats \ 0 replies \ @ama 5h

Of course the do insider trading, whether it's ilegal or not.

https://www.investor.gov/introduction-investing/investing-basics/glossary/insider-trading

Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, on the basis of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.

41 sats \ 0 replies \ @Coinsreporter 5h

Very likely. Trump is not a fool, nor any such big fat asshole politician around the world. They are all very smart, they'll only let those people grab the bag who they trust, who share profits.

41 sats \ 4 replies \ @Satosora 5h

Just watch it happen. When they had their covid meeting, lots of the senators and representatives sold their stocks and bought others. I hope they all get into shitcoins and watch them go to zero because they dont understand them.

10 sats \ 3 replies \ @siggy47 OP 5h

That would be nice.

41 sats \ 2 replies \ @Satosora 5h

Come on, most of them are of the older generation. I dont know if they can even figure out how to buy those shitcoins. But if they do and get caught holding the bag....will be hilarious. Can you imagine the amount of whining that will happen?

10 sats \ 1 reply \ @siggy47 OP 5h

They will let their kids do their bidding. Well, maybe grand kids.

41 sats \ 0 replies \ @Satosora 5h

Oh man, things could get ugly quick. From my point of view, they have no experience with cryptocurrencies. They are going to get fleeced. I wonder how many got into the trump and melenia one?

41 sats \ 0 replies \ @kepford 5h

I mean you have a point on the shitcoin angle but on the bitcoin angle... we've front run the vast majority of the world. Even those of us that got into bitcoin in the few couple years...

41 sats \ 2 replies \ @0xbitcoiner 6h

So, if this reserve is confirmed, do you think they'll keep the bitcoins they seized or buy more? That's what I'm wondering.

33 sats \ 1 reply \ @siggy47 OP 6h

I don't really know. I don't have a good reason to say this, but I don't think this administration will ever announce a bitcoin reserve, which is fine with me.

41 sats \ 0 replies \ @0xbitcoiner 6h

I'm not holding my breath, but I'd assume they won't sell the seized bitcoins if this reserve thing happens. It's hard to say if that's going to be enough for what they need.

41 sats \ 0 replies \ @SimpleStacker 6h

I mean, it's probably already happening.