48 minutes ago, JohnSnowsHair said:

I cannot think of a stupider thing someone could do. regardless of how bullish anyone is on BTC it's a speculative asset whose value is very volatile. 

I can't think of anything better to do

The psychology of this thread fascinates me. It's been nonstop crying all the way up to $70k and 0 people willing to have their minds changed despite nonstop positive moment in the traditional finance and political worlds for Bitcoin. The Blackrock ETF is by far the most successful ETF of all time at its launch at this respective point. And none of you have seemingly have bought at all over all these years

It's like there's a bug in human software that hears the word "risky" and one becomes unable to determine anything related to it with any rationality

The efficient market hypothesis is clearly debunked. It will always have to deal with emotional, 100 IQ humans that are more motivated by fear than gain

You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this:

 

and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility.

countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency.

it's stupid. 

Just now, JohnSnowsHair said:

You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this:

 

and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility.

countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency.

it's stupid. 

You do understand you can allocate in proportion to the risk you're taking correct? That you don't have to go all in?

There is WAY too much interest in BTC as a pump-and-dump for certain players to start having the US government wading in with even a fraction of what it would take to matter to the deficit. 

BTC has a market cap of about $1.3T. the US debt is $34T. If the US gov't invested even $100B it would move the price WILDLY.

5 minutes ago, JohnSnowsHair said:

There is WAY too much interest in BTC as a pump-and-dump for certain players to start having the US government wading in with even a fraction of what it would take to matter to the deficit. 

BTC has a market cap of about $1.3T. the US debt is $34T. If the US gov't invested even $100B it would move the price WILDLY.

It wouldn't be done overnight. It would be a gradual process over years

Although I would go the way you suggest, because the United States would capitalize more on the first mover advantage compared to every other government that would inevitably jump on board afterwards

 

 

Jamie Dimon, who is retarded, got Bitcoin before some of you did 😂

On 6/12/2024 at 11:49 AM, JohnSnowsHair said:

You fail to see it as a risky asset. It's perfectly fine to take on that risk if you're willing to lose the money, but suggesting that any government should somehow get involved with an asset whose chart looks like this:

 

and to use this speculative asset in some way that would address our national debt issue is preposterous, and would be the height of irresponsibility.

countries like El Salvador can roll the dice on it. but you don't put our national budget on a roller coaster and try to get the US Treasury timing BTC. you'd be literally gambling with the country's solvency.

it's stupid. 

https://x.com/rustyrockets/status/1816954490316029957?s=46

Convert the 200k BTC confiscated into reserves, buy 550 BTC per day until we have 4 million BTC, which as a percentage of the total supply of gold held would be the same 

There you go

I'd add in funding this by dropping the gold holdings significantly and if you're gonna print money, you might as well do it to buy something that's impossible to print. Ironically, this is where printing money would actually enrich the country

On 7/26/2024 at 7:18 PM, mattmcginley7 said:

https://x.com/rustyrockets/status/1816954490316029957?s=46

Convert the 200k BTC confiscated into reserves, buy 550 BTC per day until we have 4 million BTC, which as a percentage of the total supply of gold held would be the same 

There you go

I'd add in funding this by dropping the gold holdings significantly and if you're gonna print money, you might as well do it to buy something that's impossible to print. Ironically, this is where printing money would actually enrich the country

Trump's plan:

Convert the 200k to reserves, buy another 800k BTC over 5 years, which is about 430 per day, until they have 1 million BTC. Only can ever be sold to pay back the dollar debt

This is easily achievable

On 10/26/2020 at 6:00 PM, TEW said:

The government will never allow it to supplant its own currency for commerce. That’s a complete nonstarter. There is a reason the government will only allow you to pay taxes in dollars, and if a crypto currency ever threatened national currencies, they’d outlaw it meaning no store would accept it.

Man... All those times you were so certain the government would ban Bitcoin, and I was all alone correctly saying they have more to gain by accepting it

And all those times I told you it would be wise to invest proportionally to that possibility when the price was only a couple thousand dollars

You still think Bitcoin won't also eventually be a ubiquitous payment method at near 0 cost for the world and the United States will eventually have no problem with that? 

Bitcoin's path to world reserve status is absolutely inevitable at this point. It will absolutely be the standard for all international trade. It's only a matter of time

Hate to see it

 

On 7/29/2024 at 12:47 PM, we_gotta_believe said:

Hate to see it

 

Both of you are delusional democrat simps

I've voted Democrat my whole life. You can acknowledge when someone you don't like does something positive about something you like. I promise it's not that hard to be objective

19 minutes ago, mattmcginley7 said:

Both of you are delusional democrat simps

I've voted Democrat my whole life. You can acknowledge when someone you don't like does something positive about something you like. I promise it's not that hard to be objective

I promise you, Trump doesn't know jackshit about cryptocurrency. All he knows is an easy mark when he sees one.

1 minute ago, we_gotta_believe said:

I promise you, Trump doesn't jackshit about cryptocurrency. All he knows is an easy mark when he sees one.

I don't consider him intelligent on the topic. But whoever is advising him is, and to his credit he's listening

The other side has debanked crypto companies, sued every exchange possible, called crypto holders terrorists and scammers, tried to get rid of self custody and introduce a cbdc 

That level of retardation is unbelievable

The GOP platform also is running on guaranteeing self custody

The Democrats up to this point have sucked on crypto. They better turn it around 

 

13 minutes ago, mattmcginley7 said:

The GOP platform also is running on guaranteeing self custody

The Democrats up to this point have sucked on crypto. They better turn it around 

 

 Ok bud, I wish you luck on those hopes and dreams of Trump following through on any of this

29 minutes ago, we_gotta_believe said:

 Ok bud, I wish you luck on those hopes and dreams of Trump following through on any of this

Orange man likes orange coin and suddenly you're the Eagles win 

47 minutes ago, mattmcginley7 said:

Orange man likes orange coin and suddenly you're the Eagles win 

Yep, that's me, tulips and beanie babies, bro.

You scmucks are asleep and missing the fun. Hope you bought the dip at 49 Matt. 

6 hours ago, DrPhilly said:

You scmucks are asleep and missing the fun. Hope you bought the dip at 49 Matt. 

52 unfortunately

It’s only a matter of time until this thread is popping. Gonna be a crazy bullrun. 

 

On 9/26/2024 at 3:33 PM, VanHammersly said:

 

Nonstop platitudes by their team. They haven't even said they'd guarantee self custody. Literally not a single qualitative policy provision has been said 2 weeks before the election.

The same tards that were instrumental in operation chokepoint 2.0 remain on Kamala's team

The Republicans are clearly the pro crypto party. Would love it if it was bipartisan but it's not, and the Democrats have no one but themselves to blame for this

New all time high 🥲

 

I wonder why Bitcoin pumped so hard when Trump's odds of winning became very likely. Could the market realize one candidate was significantly more pro crypto????