This Is an Enormous Heist’: Chris Hayes Sounds the Alarm on Republican Bill That Would Transfer $100 Billion to Bitcoin Owners

https://news.grabien.com/story/this-is-an-enormous-heist-chris-hayes-sounds-the-alarm-on-republican-b

Posted by Top-Grass-8436

23 comments

  3. The orange Government is doing anything in it’s power to undermine the $

  4. It seems to me that trump and other oligarchs want to have bitcoin instead of the dollar. That way, when they crash the dollar (on purpose) they will in effect be the richest people

  5. They gotta steal that money quickly this time they know the midterms they will be getting crushed by a lot of angry voters

  6. In the next four years there’s going to be an enormous grift going on behind the scenes. While we are chasing our tails on social issues Trump, Musk and company will going out the back door with as much money as they can get away with.

  7. Fuuuuuuck all of this. Gold reserves only appreciate in value, Bitcoin is highly volatile. It just hit $100k, likely because people knew this was coming, but the second that gold gets converted there will be an exodus and the value will tank.

  9. The first of so many more to come. We are going to see such a transfer of wealth in this country. Perhaps like none ever seen before. Taking from the poor and giving to the very rich. Every day from now till Republicans are out of power. But don’t worry. You’ll be out of a home, savings, 401k’s, health care and anything else these greedy bastards can get their hands on before you even realize it.

    Two things here. First, Hayes has to pace himself. This is going to happen frequently. And second, hey you knew this was coming. Because you voted for this. 🙂

  10. I didn’t vote for a convicted felon and rapist. Whine about it all you want. I m not listening.

  12. So I wonder how all the “back to the gold standard” libertarians who voted for this admin are going to think about this?

  14. From chatgpt o1

    From a purely mathematical or theoretical standpoint, one rationale for a major economy like the U.S. selling its gold reserves to buy a large position in a cryptocurrency (such as Bitcoin) hinges on expectations of future valuation and the flexibility of divisibility rather than absolute supply counts. The argument would go as follows:

    1. Finite Supply vs. Infinite Divisibility:
    While the number of bitcoins is capped at 21 million, each bitcoin is divisible into 100 million smaller units (satoshis). This means that, if widely adopted, Bitcoin could theoretically serve a global monetary role without running out of “units” to transact—even if the nominal supply of whole coins is small. Economically speaking, scarcity does not prevent a currency from serving a large economy; it simply means the currency’s price relative to other goods would adjust. For example, gold is also finite, yet it supports a large global derivatives market through fractional pricing. Similarly, Bitcoin’s price could scale dramatically if it were adopted globally, with small fractions of a coin carrying significant purchasing power.

    2. Early Adoption and Upside Potential:
    If the U.S. were to invest in a relatively nascent and rapidly appreciating asset class before it becomes widely adopted, there’s a mathematical expectation of capital gain. In theory, should Bitcoin become a widely accepted reserve asset with a market capitalization far larger than today’s, the value of the initial $100 billion purchase could multiply several times. This could be seen as a strategic investment decision—similar to buying into a future growth stock early on—where the expected value calculation (probability of massive adoption multiplied by potentially enormous future valuations) might justify the short-term cost and risks.

    3. Hedging Against Traditional Monetary Systems:
    By diversifying away from gold and into a digital, portable, and easily transferable reserve, the U.S. could theoretically hedge against systemic risks in the current financial architecture. If one assigns a nonzero probability to the scenario that cryptocurrency-based financial systems gain dominance or at least become a standard part of the global reserves landscape, then mathematically the expected utility of holding some portion of reserves in crypto could be positive, assuming a reasonable risk-adjusted forecast.

    4. Price Impact and Market Position:
    A purchase of $100 billion in a cryptocurrency with a limited supply would likely raise that cryptocurrency’s price, at least temporarily. By doing so, the U.S. could secure a significant portion of the existing supply at a moment when prices, relative to a future full-adoption scenario, might still be considered low. If the cryptocurrency then ascends to become a widely recognized, globally used store of value—akin to “digital gold”—the initial premium paid might be dwarfed by subsequent appreciation. In other words, an early, large position can be mathematically justified if the expected long-term equilibrium price is significantly higher.

    Key Caveats and Real-World Constraints:
    While mathematically one can craft scenarios where this is advantageous, in practice there are many issues:

    Volatility and Risk: Forecasting the global adoption of cryptocurrency is extremely uncertain. There’s a large probability that the asset won’t achieve the stable, widely accepted status needed to justify the initial purchase. Traditional cost-benefit analysis might show an unfavorable risk-reward ratio.

    Liquidity and Slippage: Acquiring $100 billion of Bitcoin without causing a massive spike in price (and thus overpaying) is a serious real-world challenge. The linear expectation that you just spend $100 billion at current prices doesn’t hold once you factor in market depth and liquidity constraints.

    Strategic and Political Considerations: Monetary policies involve trust, stability, and geopolitical factors. While the math might work out in some future scenario, central banks prioritize reliable, well-understood assets. Crypto still faces regulatory uncertainty, security concerns, and public perception issues that go beyond the purely mathematical.

    In summary, from a strictly mathematical and theoretical perspective, if you assume Bitcoin (or another crypto) will become a dominant global reserve asset and its valuation will increase dramatically, then buying a large stake early could have enormous expected value. The limited supply isn’t a mathematical deal-breaker due to divisibility and price adjustment. However, this is an idealized scenario and heavily dependent on assumptions that may not hold in reality.

  16. Trump seems far more relaxed, this month, knowing that he will NOT be held accountable for his many crimes.

  17. I’m curious why they didn’t just invent a new coin completely under their own control, and then force banks to use that…

  20. Elon wants to use the USTreasury as his personal account. Stop the steal! Any money he ”saves” will become his and trump’s.

  21. Explain to me how Bitcoin isn’t a gigantic pyramid scheme.

  23. If I had bitcoins how would I go about spending it? Can it be used for rent or groceries? I don’t understand….

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