- cross-posted to:
- texas
- technology
- [email protected]
- cross-posted to:
- texas
- technology
- [email protected]
cross-posted from: https://reddthat.com/post/31041767
You must log in or register to comment.
Didn’t some country already try this and fail miserably?
Edit: Oh yeah, El Salvador invested $150M in bitcoin only for it to lose half its value lol
I have a better idea for a crypto plan. Let’s chain crypto bros to their mining rigs and throw them both into the ocean. Take out two pieces of trash at once.
Now that’s a block chain I would get behind. But could we not pollute the ocean with heavy metals?
Eh. Less damage from the carbon emissions in the long run. And we can chuck 'em in one of those ocean deserts that doesn’t have much sea life in it.
Oh yeah, let’s make a reserve out of a volatile non-liquid digitial asset with extremely limited and contextual utility. Let’s also send the treasurer to the WinStar World Casino.
Hmmm.
I wonder if they have certain expectations (read inside information) about the inevitable collapse of the USD that will coincidentally happen during the next presidency of the guy with ties to Russia and his VP who is backed by the dark-right silicon crypto bros.
Nah. That’s crazy talk.
I mean it’s almost certain the value of the dollar is going to tank and that the US is hit with at least a recession if not another depression if Donvict does even half the things he’s said he will, but banking a bunch of bitcoin isn’t going to help with that. Anything that tanks the dollar will likely tank the value of bitcoin as well. This reads more like a) idiots that don’t understand bitcoin and b) an attempt to pump the price up so some of the more heavily invested techbros can exit the market before it tanks.
If they actually wanted to form a strategic reserve they should have picked something with inherent value like buying a bunch of lithium, Iridium, or just plain old gold (which is honestly one of the least valuable metals as it has very few actual uses outside of acting as a corrosion barrier).
Consider that Peter Thiel bankrolled JD Vance and that he, musk, duck, et al have essentially established a technocratic state within the new admin. https://www.ft.com/content/408fb864-5831-4b1d-beef-fd1966b3beed
https://www.cbsnews.com/news/jd-vance-trump-vp-peter-thiel-billionaire/
The Wall Street Journal reported that Musk might support that PAC to the tune of around $45 million per month. Musk has denied that specific claim since, but the America PAC, which is run by Lonsdale, appears to be created to support the “PayPal Mafia” worldview — which includes (and indeed depends on) the bankruptcy of the United States.
https://washingtonspectator.org/peter-thiel-and-the-american-apocalypse/
At least PayPal had a suitably grand mission—the kind that post-bubble skeptics would later describe as grandiose: we wanted to create a new internet currency to replace the U.S. dollar.
~ Peter Thiel Zero to One https://archive.org/stream/zero-to-one-peter-thiel-and-blake-masters/Zero to One - Peter Thiel and Blake Masters_djvu.txt
I no longer believe that freedom and democracy are compatible.
~ Thiel The Education of a Libertarian https://www.cato-unbound.org/2009/04/13/peter-thiel/education-libertarian/
https://newrepublic.com/article/183971/jd-vance-weird-terrifying-techno-authoritarian-ideas
Etc…
Yes. Yes it is.
Google: set reminder for 2 years.
