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I am anti Bitcoin reserve for the US
140 sats \ 3 comments \ @0xBitcoin 6h Politics_And_Law
Putting power in the hands of the very institutions it was designed to circumvent seems like trouble. Also, who is to say that the next administration doesn't just empty the reserve? It's easier to move than gold, which is good but also makes it more susceptible to these scenarios of a mass dump by the government.
Maybe the fed should just stop printing so much damn money.
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21 sats \ 0 replies \ @justin_shocknet 5h
institutions it was designed to circumvent
Bad assumption, there's more evidence supporting the fact it was designed by the US intelligence apparatus to be an indivisible transparent ledger that could serve as free floating institutional collateral in foreign exchange to inoculate the US from dollar Dutch Disease
next administration
Assumes that power changes hands on a schedule, if the US itself considers many elections fake across the world, why would you assume the government holding the elections just allows itself to lose?
mass dump
Incentive theory, you can't simultaneously believe people in government are inherently corrupt and that they would do self-harm by dumping Bitcoin as opposed to pumping it
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10 sats \ 1 reply \ @freetx 5h
I understand your sentiment, but you must ask yourself these 2 questions:
  1. What can any of us do about it? Should we have permission-ed money? Blacklist certain people that we don't deem fit to use bitcoin (obviously I know you don't think this, I just playing out the example to make an example)
  2. If Bitcoin is so fragile that it will be destroyed by Governments buying it, then that implies it was doomed to begin with?
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0 sats \ 0 replies \ @0xBitcoin OP 5h
  1. We can't do anything.
  2. You're right, it should be resilient enough, but it could set back the timetable for mass adoption if investors get shaken out from volatile charts.
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