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March 08, 2025, 01:09:12 AM
Last edit: March 08, 2025, 02:29:36 AM by cAPSLOCK Merited by El duderino_ (10), vapourminer (1), JayJuanGee (1), Paashaas (1), jojo69 (1), d_eddie (1), Richy_T (1), serveria.com (1), bitebits (1), OutOfMemory (1), psycodad (1) |
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Thoughts on recent "crypto"/bitcoin development re: the US Gubmint:
You stupid bitcoinners. Bitcoin is to take the power AWAY from governments not hand it to them! Gah!
This is the mantra of Roger Ver acolytes, and Monero maxis. And it is retarded. "We should not be happy that bitcoin is being collected covertly or overtly by the powers that be!!!" There is an old saying I think we are all familiar with. "Bitcoin is for enemies". If the collection of bitcoin by governments (and ETFs if that is even different) breaks it then it was doomed from day 1.
My god! It's full of shitcoins!
Well this ended up much better than it could have. Bitcoin is going to be the actual reserve asset while the USG keeps the right to stockpile shitcoins. This gives a bone to the centralized donators like Garlicpants and hedges black swan crypto events as well as signals an agnostic to positive stance to the whole "space".
Waah! They are not buying anything just labeling what they already had!
I am guardedly positive here too... They a phasing in the idea, and doing some toe dipping, There are still MANY people who think bitcoin is a ponzi. Probably even more than people who think alts are NOT a ponzi. And the "doesn't cost the taxpayers" message is important right now in balance with the other things they are doing. The buying is exciting if it ever happens. BUT it pales in comparison to the un-erasable LEGITIMACY the USG just handed Bitcoin. (and the cold shrug they did at alts)
You are not a real bitcoinner if you can accept they stole sweet innocent Ross' bitcoin!!!
Also you are not really a Scotsman! This is typical black and white, bitcoin anarcho-capitalist, religious doctrine, Aspberger's gatekeeping. Look. I respect people who think Ross was a hero. I personally think he was quite naive. And I am delighted he is finally out of jail as that whole thing was WAY over the top. And I have serious problems with civil asset forfeiture. But this is another discussion. And I love that we are a principled and idealist community. But expecting the government to stop acting like gangsters EVER, much less overnight is REALLY REALLY idealism. And frankly this is out of the scope of what's happening. I personally would love world peace and the Kingdom of heaven realized on Earth... but lets do some incremental improvements!
This is setting us up for another EO6102!
I wish I could flippantly deride this idea as well... but I cannot. The incentives here suck. "We don't want to spend our (i mean the taxpayer's) money on it so we will just start with coins we seized! Wait a moment! There's an idea!" However... that sort of move is somewhat outside of the ideals (liberty based) I THINK this wacky administration really believes in. Still, I trust them as far as I could throw them, and the NEXT administration is a whole new game. We need to remain vigilant and prepare for the worst. At least somewhat.
The price is dropping! This makes no sense!!!
first_time.gif?? I feel yah. Sell the news. This is complicated. It has to be digested. And the masses don't have a D- level understanding of bitcoin in the first place (including many old timers honestly). So there is no chance most folks even know what any of this means. From what I see even most of the choir is either excited for the wrong things, or frightened of the wrong things. AND I think the market is frothy and exhausted from being yanked around by Trump and company's Big Beautiful Words... Bigger, many have said, than ever before, buhleeve me!
In conclusion I think this development is mostly a sleeper... As the ideas are worked through I imagine there will be a surge in worldwide demand.
The government that serves the creators of the worlds reserve currency and unit of account just totally legitimized BTC as an asset of value worth collecting and hoarding at the highest levels.
CCMF.
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