The delusions behind a bitcoin strategic reserve. It is a resilience strategy for the ‘hodlers’, not the US state

7 comments

1. Nah. If you want to stay the leader of global finance you want the reserve. You can only ban yourself from Bitcoin.

2. Why Bitcoin? There are thousands of crapto coins to chose from.

3. The day America starts paying bond investments with buttcoin is the last day of America. So you can’t move USD offshore through the Seychelles? Please make a ‘strategic air molecule reserve’ instead.

4. Why would a government embrace bitcoin? Only harms them

   I guess many similar arguments about gold hold true too

5. Saylor has shown the way already. US will follow the same strategy at scale.

6. How to dismantle America economy system:…Crypto execs, investors and evangelists saw the election as existential to an industry that spent the past four years simultaneously trying to grow up while being repeatedly beaten down.

   Nearly 300 pro-crypto lawmakers will take seats in the House and Senate, according to Stand With Crypto, giving the sector unprecedented influence over the legislative agenda.

   Prior to announcing his Senate candidacy in April 2023, Bernie Moreno was a political no name. A former car salesman in the Cleveland area, his only prior experience in politics was a losing bid for Ohio’s other Senate seat in 2022.

   Moreno’s rise from unsung Ohio businessman to prominent political leader was no accident. His campaign was backed by $40 million from the cryptocurrency industry as part of a highly targeted effort to get friendly candidates elected and, perhaps more importantly, its critics removed. Moreno’s victory was one of the Senate seats Republicans flipped to take control of the chamber.

   Crypto companies and their executives mobilized rapidly, and they successfully figured out how to deploy their cash through a sophisticated ad machine across the country. They also took cues from what big tech got wrong.

   Rather than spending hundreds of millions of dollars on lobbying legislators post-election, the crypto industry invested in targeting their opponents ahead of the election so they wouldn’t have to deal with them at all the next few years.

   https://www.cnbc.com/2024/11/23/how-tech-bros-bought-americas-most-pro-crypto-congress-ever.html

   Far right extremists libertarians tech bros and satanic evangelist murderers joined dismantling America economy system and Americans workers future…

   But..but…China’s evil….

   While America is for sale…..steel anyone?……

7. In all this regulatory and speculative chatter I still haven’t seen one good reason to believe the utility of bitcoin is evolving into something truly revolutionary .

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