Texas House Introduces Bill To Establish a Strategic Bitcoin Reserve 165
An anonymous reader quotes a report from CNBC: Legislation was introduced in the Texas House of Representatives on Thursday to establish a strategic bitcoin reserve, which could serve as a proving ground for the U.S. Treasury. The proposed bill would enable the state to start building a strategic bitcoin reserve by accepting taxes, fees and donations in bitcoin that would be held for a minimum of five years, Republican state Rep. Giovanni Capriglione announced on an X Spaces event Thursday.
The Texas bill aims to provide a way to strengthen the state's fiscal stability and establish it as a leader in bitcoin innovation, according to the Satoshi Action Fund, a nonprofit bitcoin advocacy group that worked with Capriglione on the bill. "Probably the biggest enemy of our investments is inflation," Capriglione said. "A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state." "I just filed the bill ... entitled 'An act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities,'" he said later. "My goal is to make this bill as big and as broad as possible," Capriglione said. "This initial step is to allow some optionality and flexibility on it, but if I am able to get support from other legislators, we will make it even stronger."
It's "unlikely" a U.S. strategic bitcoin reserve will be established, "but it helps get animal spirits back into the market," Needham's John Todaro told CNBC. He said it's also "unlikely to drive material price gains, as we do not expect the U.S. government will purchase bitcoin in any meaningful capacity, but it's an item that drives excitement and optimism."
The Texas bill aims to provide a way to strengthen the state's fiscal stability and establish it as a leader in bitcoin innovation, according to the Satoshi Action Fund, a nonprofit bitcoin advocacy group that worked with Capriglione on the bill. "Probably the biggest enemy of our investments is inflation," Capriglione said. "A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state." "I just filed the bill ... entitled 'An act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities,'" he said later. "My goal is to make this bill as big and as broad as possible," Capriglione said. "This initial step is to allow some optionality and flexibility on it, but if I am able to get support from other legislators, we will make it even stronger."
It's "unlikely" a U.S. strategic bitcoin reserve will be established, "but it helps get animal spirits back into the market," Needham's John Todaro told CNBC. He said it's also "unlikely to drive material price gains, as we do not expect the U.S. government will purchase bitcoin in any meaningful capacity, but it's an item that drives excitement and optimism."
Why not Hawk Tuuuah coins? (Score:2)
https://coinmarketcap.com/curr... [coinmarketcap.com]
hey, that's stove's hot, don't touch it (Score:5, Informative)
This is how ya'll sound.
This is the inevitable result of stupid people voting en mass and electing stupid people.
Some of these dumbshites want to take your Social Security funds and put it in bitcoin. Enjoy being destitute in your old age.
Wrong Fairy Tale (Score:5, Informative)
"Texas House Introduces Bill To Establish a Strategic Magic Bean Reserve" This is how ya'll sound.
Don't say that because in the fairy tale of Jack and the Beanstalk the magic beans ended up doing quite well for Jack despite him looking foolish at the time. If you want to put it in terms of fairy tales I'd go with "Texas House Introduces Bill to Establish a Strategic New Clothes Reserve for the Emperor".
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Scam (Score:5, Insightful)
Re:Scam (Score:5, Insightful)
This is a scam.
...and it's one of the simplest scams in history. Convince a bunch of Dunning-Kruger sufferers to pay you real world taxpayer money for woo-woo-widgets, stash real world taxpayer money away in safe place, then wait and watch pandemonium unfold.
Someone's going to pocket some money, and it won't be the people of Texas.
Well, you get what you vote for.
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His scams were better than this Bitcoin crap. Free electricity from a generator that outputs more power than is put in.
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Re:Scam (Score:5, Insightful)
Better is the Dennis Lee quote "You don't know what you don't know, and you don't know that you don't know it!"
His scams were better than this Bitcoin crap. Free electricity from a generator that outputs more power than is put in.
Texas is just the teaser trailer for this genius business idea, Trump threatening to set up a 'National Bitcoin Reserve'. This is how you rob a superpower.
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As much as Mr. T is a moron based on the endless stream of verbal diarrhea coming out of his mouth, he's a gambler, and he won this round. What he did "right" was stack the deck the way all incoming authoritarians do it, stack the judiciary. Well played. Now that the Supremes have given him Monarch Powers, he can do anything, kill people, imprison them, or create a bitcoin laundering scheme, with impunity. There was a rumour or better in recent days that He/It/Them are going to pump 10
Re:Scam (Score:4, Interesting)
Can't wait to see their faces when they find out that anyone who knows their secret can loot their entire treasury with complete impunity, and no take-backs.
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People like Mike Saylor who own a lot of Bitcoin will make out like bandits if this happens, though. The price of Bitcoin will probably shoot to $150,000 the moment the bill gets passed, and it will continue to rise as the government is forced to buy Bitcoin at a highly inflated price when compared to it's historical average.
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They wouldnt be buying bitcoin under this plan, they'd just be accepting it as payment for stuff and then holding onto it. Still a ridiculous plan that's likely designed to enrich the crypto bros though.
Re:Scam (Score:4, Interesting)
They wouldnt be buying bitcoin under this plan, they'd just be accepting it as payment for stuff and then holding onto it. Still a ridiculous plan that's likely designed to enrich the crypto bros though.
Bitcoin has held a liquid status for a very long time, but its price fluctuates wildly for a number of reasons. But the main takeaway is if you want to extract the maximum amount before the rug pull you need actual real money to be holding the bags to actually transfer the real wealth out. If you can control how much market adoption there is, or even certainty about short term promises, it’s possible to extract the money. We aren’t plagued by hyperinflation like some countries where being pegged to the dollar or even bitcoin might help if you really squint your brain, so the idea that we need to bind the dollar in large governmental amounts to some trivial in comparison asset is ridiculous.
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Meaning that holders of bitcoin can hand over this imaginary thing to pay their taxes rather than actual dollars. And since Texas will be statutorily required to keep the bitcoin for 5 years, they're on the hook for any price fluctuations or crashes while the original holder walks away with their actual dollars.
This is a buyout of bitcoin holders with taxpayer money, and the taxpayer being on the hook if it all collapses. May as well start taking junk bonds and penny stocks as payment options as well.
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It's still not like the government buying bitcoin. It's like the government buying bitcoin only when the price spikes, which after this bill it will presumably do regularly on tax day. Kind of how back in the day the gold:silver exchange rate went wild on tax day.
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Of course it's a scam. This is bailing out private bitcoin holders with public taxpayer dollars.
The defining characteristic of a pyramid scheme is that you need to keep finding greater fools to buy out the previous fools. They've run out of individual fools, so now they need government institutions to buy their worthless made up bits and take the hit when it all comes crashing down.
"unlikely" (Score:5, Insightful)
'It's "unlikely" a U.S. strategic bitcoin reserve will be established,'
No crypto reserve could ever be considered strategic. It is a grift, a con job. Countries are sovereign, Leon Musk only thinks he is.
Re:"unlikely" (Score:5, Insightful)
Stability (Score:5, Insightful)
The Texas bill aims to provide a way to strengthen the state's fiscal stability
Is there anything out there that says "fiscal stability" quite as much as accumulating a mountain of assets the value of which is purely speculative, underwritten by nothing, and entirely at the whims of how good some people on Wall Street are feeling on any given day!
This is right up there with the time I decided I'd improve my health by changing my diet to eat nothing but deep fried polonium, you know, to give me that warm radiant glow inside.
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Is there anything out there that says "fiscal stability" quite as much as accumulating a mountain of assets the value of which is purely speculative, underwritten by nothing, and entirely at the whims of how good some people on Wall Street are feeling on any given day!
You are referring to the dollar, right?
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oh please do dumb this down further.
You know that the biggest military on earth will be activated in defense of it's currency... one that used to be required to buy Oil and operate in the biggest economy. Soon to be isolated into irrelevance at a rate not imagined since 2016.
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I believe you suggest people who "understand" BC would never sell... sorry that's the parent poster who said that.... It's a self fulfilling prophecy: if you never sell, you never have to put a value on it.
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Guaranteed they either lose their key or someone copies it and empties the "strategic reserve".
Strategic? (Score:4, Funny)
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Strategic pump, before the tactical dump by the people lobbying for ti.
Strategic Fertilizer Reserve (Score:4, Funny)
"Here in Texas, we generate lots of bulls**t, but we also use a lot, particularly in our legislative activities. That's why we are instituting a Strategic Fertilizer Reserve, to make sure the state government doesn't run out. We'll delegate the operations of this activity to the agency that operates the Texas power grid, independent of the rest of the country. This will allow Texas to be independent of the bulls**t that comes from Washington, because we know you can't trust the federal government."
Please explain the rationale (Score:5, Informative)
*The US has strategic reserves for oil, to help moderate price swings and, in an extreme, not be totally cut off in the event of another oil embargo.
*We have a gold reserve largely as a holdover from the days of the gold standard. But gold has intrinsic uses as a material, and is a broadly recognized financial asset.
*We used to have a helium reserve [wikipedia.org], dating back to when lighter-than-air ships were important militarily.
*Canadians have a strategic maple syrup reserve to smooth out price swings as annual production varies (or, cynically, allows a cartel to control the market).
*Then there is the Federal Reserve, which more or less controls the supply of US currency, which helps moderate the highs and lows of the business cycle and control inflation/deflation - with varying degrees of success.
In each of these cases, the thing we have the reserve for is 1) and important component of the broader economy, 2) broadly used/useful (don't tell me maple syrup isn't!), and therefore, 3) something whose price we (via government or cartel) want to keep on an even keel. I can see why bitcoin boosters would benefit from having the government 1) drive up demand for something they have, then 2) keep that price on an even keel. (It seems ironic that the boosters be looking to the government for that backstop, but I guess all vested interests eventually seeks to bend government to their benefit, however much that contrasts with their stated principles.)
But given its niche nature and lack of broad (intrinsic) usefulness, what is the justification for the rest of us to engage in such a thing? One may as well have a strategic penny stock reserve. Or a strategic tulip reserve.
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I assume that some of the people who bang on and on and on about 'onboarding to crypto' genuinely believe that building a UX on top of copy/pasting wallet addresses that isn't shit will lead to a more efficiently dystopian future or something; but the overriding incentive tends to boil down to 'onboarding' being someone exchanging money that's actuall
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It IS strategic for the top of the pyramid scheme. The ones left holding at the end will be the government; it's a variation on too big to fail banks. It will work to boost "investors" in the gamble but at much larger levels it will essentially insure more "investors" do not end up on bottom; unless they get in later than the government does.
This would be the perfect thing to put social security into; the public would be robbed blind and they'd have nobody specific to direct their hate towards; other than i
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Here's why: the American voter has revealed he's a chump sucker for any scam that comes along, and he feels like he doesn't get ripped off nearly enough. The national debt just isn't high enough, and taxes aren't anywhere near high enough. We want to pay more and get less. "Please, won't someone help themselves to the US Treasury?"
There's no reason that can't also include the Texas treasury, and Texans are will
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It's in order to pay someone for the BTC going into the reserve. That "someone" profits. That's it. That's why we're going to do it.
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what is the justification for the rest of us to engage in such a thing?
Because the government has just put in a standing order to buy bitcoin when the price spikes, plus a mechanism to guarantee the price will spike on tax day.
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Gold is still used in electronics. OTOH Silver used to be valuable when it was used in photography, but not these days.
I think they should switch to Platinum since it has a lot of uses as a catalyst.
Or maybe some of the rare earth elements, or Lithium.
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f you strip away the societal consensus and really trade gold just as an industrial commodity, with nobody wanting it as a currency, the price will drop to that of other commodities.
That ignores the physical qualities of gold that made it a store of value for five millennia. It is relatively rare, the supply increases very slowly, its almost indestructible, its value is universal and it is compact and easy to transport etc. Moreover, its particularly valuable to the wealthy who can afford to put stored value in pretty objects. Its a universal luxury.
There are lots of commodities, gold is one and so is bitcoin. And it seems every commodity has speculators.
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They should go back to COTTON like they used to use instead of gold. At least then Lincoln could bankrupt their economy with a match. again.
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And Bitcoin is that hard currency? Can anyone - even crypto boosters - claim that with a straight face?
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Perhaps you and I have differing definitions of "hard". I would argue the "hard" means that it's value - its purchasing power - does not change. Having a fixed supply does not equate with a stable value, in terms of what you can actually buy with it. (Throughout human history, a fixed supply of any currency tends to increase volatility.) Even setting aside the substa
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The supply is fixed, therefore the value is unstable. Under varying economic conditions this can lead to either deflation or inflation, which is why Bitcoin sucks as a currency. Denominating a contract in Bitcoin adds an element of risk and uncertainty you don't get with fiat currencies, which can be managed to have stable or at least predictable future value.
Bitcoin is a shitty currency, because people treat it as an asset. They're *hoping* for the value of Bitcoin to change in a substantial way, which is
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The supply of Bitcoin isn't fixed. It has a maximum number that can be generated, but at some point, it will start to trend downward as access to wallets is lost over time. People will lose them or forget the passwords. People will die without ensuring that the passwords are available to their next of kin. A significant portion of all the Bitcoins ever mined are already lost forever.
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You say I haven't "done the work to study it or money." I have studied money, and recognize that while it's a made-up thing [hachettebookgroup.com], all forms of money tend to share the same characteristics, such as: divisibility, portability, acceptability (medium of exchange), scarcity, durability, and stability (store of value). Bitcoin currently fails on acceptability and st
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10 mins is the settlement time.
That is much faster than credit cards (takes days for final settlement). Whats important is behind the curtain, not at the register of the local 7-11.
For those transactions people can use Lightning or Liquid BTC (2nd layer protocols), just like credit cards are properly 3rd or 4th layer.
Jacob Goldsteins book seems interesting. I'll pick it up for reading during the holidays and compare his perspective to others.
Id suggest Lyn Aldens Broken Money : https://www.lynalden.com/brok [lynalden.com]
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What is money? Its a ledger system.
No, it isn't. You are mistaking the abstract record keeping for the material.
Yes, money in the bank is just a ledger entry. But it can be traded for physical currency. When it can't it loses its value. That is why you have runs on banks when people are no longer confident that a bank will give them physical currency for the money they have recorded in their ledger.
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Umm, no.
You are mistaking the abstract (which is the important part) for physical currency in circulation.
About the bank. Its not your money, its not money, its not in the bank.
There is 2.3 trillion of physical USD currency in circulation. That is about 3-10% at most of actual USD in circulation digitaly.
Money is mostly NOT physical at all. We live in a debt based society, most money is debt. Gov TBills, Corporable Tbills, loans, mortgages, etc...
When you get a mortgage for a house, the bank just writes dow
Stability? (Score:5, Interesting)
Please explain how accepting taxes using a volatile asset strengthens fiscal stability? That'd be like me saying "I'll accept my paycheck in the form of bitcoin, as that will strengthen my fiscal stability."
Come to think of it, I offer an amendment to the proposed legislation: upon passage, all legislators and state employees must accept their salary and (and pension benefits) in the form of Bitcoin. Feel stable now?
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If your Salary were stated in BTC you would make exponentially more money every 4 years if the amount of BTC you received stayed the same.
Average US home prices:
2016 - $288,000 (664 BTC)
2020 - $328,900 (45 BTC)
2024 - $434,700 (6.6 BTC)
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If you had ever considered purchasing an actual investment, you would have seen the disclaimer that applies to all of them:
"Past performance is not a guarantee of future results"
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Yes of course.
On the other hand, I do not evaluate GOLD the same as I would a security (Apple stock).
The are different reasons why hard money goes up or down than the underlying 1000s of risks tied to a security.
Much easier to evaluate and rely upon.
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How's that pan out if 2027 comes along and it takes 1 million Bitcoin to buy a house?
Another wall banana (Score:2)
This man is just another banana taped to the wall; the performance in this art, is entirely done by the banana and the benefit to the buyer is much longer lasting.
Texas's fiscal stability has been it's constant drag on the USA propping it up since it's inception. Have they gotten off our welfare yet?
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It would be more stable if they invested in scrap metal.
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The bill clearly states holding new Bitcoins for a minimum of 5 years.
Volatility is part of a new adoption curve. But the 200 week moving average shows a straight line up. Because Bitcoin has a 4 year cycle.
3 green UP years, 1 red DOWN year. But over any 4 year cycle, it has gone up for the past 15 years.
BitCoin? (Score:2)
I thought ELon favored DoggyCoin
Reason Texas is moving to bitcoin (Score:2)
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Real economy is fucked, so base the health of the state on a speculative investment vehicle, what could go wrong
Doesn't make sense (Score:2)
So, people pay the government in crypto and the government holds it. The government agency then doesn't actually get paid for the service it provided while the value of the crypto may actually end up being lower, at the end of the day, than what was paid.
Seems like a fast way to run the government into the ground to me...
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It doesnt make sense because you havent studied Bitcoin.
It has a 4 year cycle. 3 green years 1 red year (correction).
Over a 200 week moving average, it has gone up in a an almost straight line for 15 years.
https://www.bitcoinmagazinepro... [bitcoinmagazinepro.com]
This is why the bill is written to hold coins for 5 year minimum.
Here is the bill ... (Score:2)
Here is the bill:
https://capitol.texas.gov/tlod... [texas.gov]
It appears to me that what this is really about is to allow departments of Texas to accept authorized Crypto coins as payments for all fees, taxes, etc, that the state will be stuck with them.
Any non-BTC coins will be converted into Bitcoin, and all coins put into a BTC account outside the general fund. For some reason, any such BTC cannot be sold or traded for 5 years from when it is entered.
Cui bono?
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Great, put state funds in the hands of a currency they have 0 control over and can be manipulated by shadow organizations.
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"Manipulated by shadow organizations" Like the USD?
No one controls Bitcoin, its a decentrilised, globably distributed electronic ledger, bounded by energy (proof of work).
Buy Bitcoin Now (Score:2)
...while the price is at an all-time high!
That's what smart investors do, right?
this is strength of the US (Score:2)
Texas wants to buy and HODL huge amounts of a fundamentally worthless, incredibly volatile asset class. Maybe they'll make tons of money, maybe it'll be a huge pit in which to burn Texas citizen's taxpayer dollars. We'll see how that works out. Way better for them to try it before the entire country does.
Texas has an is
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Even on stuff like DEI, states are taking wildly different approaches. Does it actually make a difference?
Yes, because US states don't exist in a vacuum. If one manages to wreck its budget, people will likely move other states, impacting them.
Don't forget me, ya'll (Score:2)
I, too, have a toilet down which you can flush some money.
Pump 'n' Dump (Score:4, Insightful)
Sounds like a pump-and-dump.
Of all the dumb shit (Score:2)
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Don't challenge them, dumber is always possible.
Profit! (Score:2)
1. Become rich on Bitcoin back in the day
2. Spend ten years evading the Feds
3. Realize you have enough money to buy the politicians who control the Feds
4. Buy the politicians
5. Profit.. and Power!
Rolling Power Outages (Score:2)
As ERCOT prioritizes power on bitcoin miners over the poor bastards who just want the light son in their house......
Not unlikely (Score:2)
We need to differentiate between what is likely to happen and what we want to happen here.
Establishing a US bitcoin reserve is crazy, dumb, irresponsible and corrupt. But it is not unlikely. It is more probable than not. The president elect has already said that he is going to do it. Bitcoin is a plank of the Republican party and they control all branches of government. Key members of the administration and congress will buy bitcoin (many or most already have) and then use their authority to create the rese
Magic Beans (Score:2)
Good luck with those tulip bulbs (Score:2)
... or beanie babies, or pet rocks, or...
I fear I was wrong (Score:2)
I should've known it was a risky move to bet against stupidity:
https://slashdot.org/comments.... [slashdot.org]
Re: strategy (Score:4, Funny)
Ah, you missed out early on bitcoin too, huh?
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..but there are suckers who think they won't be the ones holding the bag when it all crashes down.
I mean, isn’t that one of the founding principles of stocks themselves? A very large percentage of the economy is monetary musical chairs and when the musi er easy lending money stops everyone scrambles.
Re: strategy (Score:5, Informative)
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That could be including the debt at the time, which would be liabilities.
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Yes. This just means that many investors thought that Apple's resources were worth less than market value of those investments. This might seem crazy, but investors knew what the people that were in control of those assets were going to do with those assets. They weren't going to sell them and take the money. They were going to spend their resources continuing to try and beat Intel and Microsoft. Many investors during this time thought that Apple should sell off its valuable assets and go out of busine
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Tell that to Blackberry or Nortel stock holders.
The underlying assets are irrelevant if the stock goes to 0.
Those who understand BTC arent going to sell it to anyone, EVER. Your thesis is wrong.
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Those who understand BTC arent going to sell it to anyone, EVER.
Aesop wrote a fable about that.
At least once you forget your cryptowallet passphrase or your online repository gets drained by hackers, you can just gaze at a stone every day instead.
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People mishandling of their money and loosing it all because of not managing security and other factors is as old as gold.
Bitcoin has never been hacked. Hold your own keys, don't leave it on exchanges (they get hacked). If you hold your keys in cold storage, you wont loose your coins.
About the passphrase, if you have serious value in Bitcoin, people use multi-signature systems or use services like CASA or others, to not get caught with their pants down if the forget their passphrase or loose their device.
Ba
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Being sovereign requires great vigilance and responsibility.
Sovereign, schmovereign.
Your little hobby relies on governments and organizations all over the world cooperating to keep an incredibly complex and fragile internetwork up and running.
When the shit actually hits the fan, that all gets shut down, and you'll have nothing.
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When shit hits the fan, Beans and Bullets will be the only currency.
There will be soon enough direct access to satelite communications for cellphones, both voice and data from starlink.
Nation states could do whatever they want, and comms would probably still function.
Its probably one of the main reason Musk is rushing to deploy Starlink as quickly as possible.
https://x.com/elonmusk/status/... [x.com]
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Russia is testing this theory, cutting off access to the internet in a few places as a test to see if it can have an even tighter walled garden than North Korea.
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I've got bad news for you: As soon as the shit hits the fan, there aren't going to be any working satellites.
And if Musk is still around, he'll be hiding in a deep bunker. He won't be wasting time trying to reactivate his Starlink base stations.
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Holding assets and never selling is the key to wealth. (Even without considering Bitcoin).
Those who have held APPL stock since the 90s or even early 2000s can still live off it, without ever selling.
You can borrow against your assets, for living expenses, never paying down principal, just like a HELOC (or mortgage backed credit line).
Anything sold, misses out on future gains. So you don't sell.
And over time, the debt incured becomes irrelevant if you hold good assets for 10-20-50 years.
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Yes, your premise is also correct.
For a Bitcoin loan you would either have to let the loaner custody your Bitcoin (this is risky as you loose your keys and control).
But you can use an escrow as you mentioned where the loaner cant take control and you cant either until the end of the contract where the escrow will then return your Bitcoin or transfer to the loaner if you default on payment.
Bitcoin is also programable, some might just require a timelock on the collateral, where No one can touch it until the e
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I disagree that bitcoin is highly liquid. That I think is an illusion based on supply and demand. The holders aren't selling much as you point out. Clearly that drives prices up. It's not a gu
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And yet, they can still go to 0 and often do.
See Blackberry, Nortel, etc...
Re: strategy (Score:5, Informative)
And yet, they can still go to 0 and often do. See Blackberry, Nortel, etc...
I think you are mistaking cause and effect. Those companies went bankrupt and their stock went to zero because they had no net value. They had more debt than assets.
Bitcoin is based on the "greater fool" idea. The expectation that someone in the future will pay more real money for it than the owner did. For most current sellers that expectation has been correct at this moment. I think the question is whether it will always be true in the future and that really depends entirely on future buyers having the same expectation. If the bitcoin to dollar value remains stable, bitcoin serves no useful purpose. You might as well hold dollars. And you certainly don't want to buy a bitcoin if you expect it to be worth less relative to the dollar in the future.
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If BTC has the ability to be used as a circulating currency for everything, it might be something that can be both hodl'ed as an investment, as well as used. However, BTC transactions are limited and are not cheap with a high "tip" to pay the miners.
It would be nice to see a better cryptocurrency that was designed not for immediate pump and dump or rug pulls, where it could be used for everyday use, and have its blockchain pruned so one doesn't have to store 622.02 gigs (as of this writing) in order to ver
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Bitcoin has no physical assets. What will happen to Bitcoin is the same thing that will happen to ...oh say, Skype, or AOL, or MySpace. The amount of people who know about and and use it will spike to a point and then rapidly deflate when something better/easier to use supplants it.
Nobody should buy Bitcoin. Only morons would buy Bitcoin today. If you really want to use cryptocoins like money, there are alternative coins that aren't as risky, and not as dangerous to deal with. But still, if you're paying mo
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...there are suckers who think they won't be the ones holding the bag when it all crashes down.
Yes... the idea is to make government that sucker.