πͺπ¦π Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. πͺπ¦π
(twitter.com)
π π½ πΎ ! ! !
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Capitalized with stolen bitcoin. No actual buying or investing in the stuff by the government, only crypto they confiscate or acquire at no taxpayer cost. I thought crypto was a safe decentralized asset unable to be taken by the government. This order has nothing to do with bitcoin having monetary value me thinks.
It has monetary value, obviously, but they donβt want to detract from the dollar. Bad decision as buying more and selling it higher could have helped with our debt.
Itβs a Ponzi scheme though, anon.
Yeah. Itβs just a derivative of the US dollar. When you buy bitcoin, that money is being used to buy US treasuries, so you are funding the US debt. The government loves it if you buy bitcoin and hates it if you are acquiring gold and silver. When the dollar collapses and loses its purchasing power, so will Bitcoin. Whatever purchasing power bitcoin had will collapse back into gold where it derived its value from in the first place. Just like all derivatives of the dollar will, like stocks, treasuries, real estateβ¦ you name it. Itβs not that those assets donβt have value. They do. Just not their current purchasing power.
Gold and silver are real hard assets that have intrinsic value of their own. Not just they required energy to produce, but they have real world uses that set a floor on their value. For example, outside of oil, silver has the most patents and industrial uses and is absolutely strategic; in addition to having all the characteristics of money. Bitcoin has none of that. No one needs bitcoin for anything and most people and businesses wonβt accept it for transactions. I can take an ounce of gold anywhere in the world, power or not, and exchange it for goods and services.
I donβt know whatβs going on with this crypto bullshit but personally Iβm not touching any derivatives in a financial collapse. Iβm going to hold the original deposit all the derivatives derived their value from in the first place. Gold and silver.
https://m.youtube.com/watch?v=6-kAz2dnN5Y&pp=ygUXUmFmaSBmYXJiZXIgZGVyaXZhdGl2ZXM%3D
You better watch out for Retard Finder.
It is a currency that is limited in supply. It is a digital store of weatlh. IF BTC is a ponzi, then all stocks are ponzi schemes as well, also throw in all investments, as they all depend on new money propping things up. Let the market decide anon.
Stocks provide a real return, and provide real world value to people in the form of goods and jobs, dividends, profits etc. BTC is scarce and limited supply, yes. But it is a breeding ground for fraud, not secure, eventually quantum computing could hack βeveryoneβ and steal all their tokens. BTC is software, and in the tech world, new and better software ALWAYS comes out and is adopted, replacing the old tech. THIS WILL happen to BTC, because the bar to entry is LOW AF.. look at the thousands of competitors arising and taking market share from this mythical βscarceβ token βBTCβ.. actually doesnβt seem scarce when literally thousands of coins are created each Day.. millions of competitors now
Itβs a start.
When the economic shit storm hits. All bets out the window. He can just say buy and increase the stock pile.