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[–] 14 points 2 years ago* (11 children)

So personally, I think the government should have some, but I don't specifically think selling gold for it is the right idea.

Everyone seems to be on about how this is just about cashing out his buddies, but what I'm worried about is these dumbfucks won't know how to properly secure it or won't properly secure it and itll get easily stolen, or they'll outright steal it themselves.

Like they just used signal to talk about bombing Yemen and included a journalist on it...

So while I think it's not a bad idea to have some, it's fucking terrifying that Trump is doing this and can influence it.

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  • [–] 27 points 2 years ago (5 children)

    I don't think the government should have ANY, regardless of how the government purchased the fake assets. It's a fucking terrible idea for exactly the reason you described. The government should not be involved in such a high risk, unsecured, volatile, ridiculously easily stolen venture.

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  • [–] 7 points 2 years ago (3 children)

    Agreed. Its also a direct competitor with every countries sovereign currency... So why would help it?

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  • [–] -2 points 2 years ago* (1 child)

    When there's a disruptive force, you have a few options

    1. try to kill it so it can't disrupt

    2. do nothing and be disrupted

    3. dip you toes in, so if disruption happens you aren't blindsided and can hopefully wade through it

    4. take a chance and swim in it so you can be on the leading edge of that disruption.

    They've kinda tried option 1 but failed.

    Option 2 could lead to long term consequences

    Option 3 leaves them prepared but not overly exposed

    Option 4 would be pretty risky

    So really, option 3 is probably the best bet given option 1 hasn't been working.

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  • [–] 5 points 2 years ago* (last edited 2 years ago)

    It's bitcoin, the only thing it's disrupting is the pyramid scheme space. It's too volatile, too expensive(transaction fees), and too slow to be a useful currency. There is no reason for the government to buy in to a speculation bubble.

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  • [–] -2 points 2 years ago* (last edited 2 years ago)

    I'm not going to try and convince you on the merits of crypto, but it can be secured so it isn't "ridiculously easily stolen"

    I just don't think Trump would do it.

    Edit: Just to give an example - you could make it so you can't use the money without 100% of congress (house and senate) and the president authorizing it. It would be so secure, you'd probably never be able to use it ever again.

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  • [–] 20 points 2 years ago (1 child)

    How do you think they're going to transfer the money on a more mature coin? Oops, we lost the keys.

    Oh look Putin and Thiel randomly managed to find the keys to America's Bitcoins.

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  • [–] 4 points 2 years ago* (last edited 2 years ago)

    Hey Putin,

    We'll give you some more gold to get it back, say $0.75 on the dollar so you get a finders fee?

    Putin - Sounds great!

    two weeks later

    Shit we lost them again, Thiel seems to have them this time, maybe he'll give them back to us for $0.75 on the dollar as well!

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  • [–] 6 points 2 years ago (2 children)
  • [–] 2 points 2 years ago (1 child)

    Why does any government invest time or money into new and evolving things. To stay up to date, be ready for change, and see how that new change can be of benefit.

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  • [–] 1 point 2 years ago

    Bitcoin isn't new. It's almost 30 years old at this point. You don't need to purchase any substantial amount of BTC to understand how it works. One can simply read the research papers and understand crypto (or pay people smart enough to do so). Also laughably the US government already has billions of dollars in BTC because it holds the funds it seized from criminals.

    We don't need to buy ANY.

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