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I believe folks pretending the U.S. government holding Bitcoin will be just that, and similar to the U.S. holding gold, with no other ramifications on greater involvement into the protocol, mining (sanctions) and other unforeseen ramifications, are being disingenuous.

We always should have prioritized tax treatment of Bitcoin first via Congress, which would increase adoption with more people able to spend and use Bitcoin as digital cash. If the U.S. government wants to stack, fine, but some in the bitcoin community tripping over themselves to make this happen as soon as possible, I believe, is purely for a bag pumping stunt.

It’s not smart…there are way too many risks for my comfort here!

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Discussion

ew0k 1y ago

If bitcoin can’t handle states gobbling it up overnight, it wasn’t the solution. If people took the slow, congress-focused, no tax strategy first (in many ways a lot more difficult than holding confiscated bitcoin), and an education strategy first, and maybe other government incentives for regular people to buy, would regular citizens even pay attention? They only seem to notice bitcoin with NGU. I, for one, say send it!

Symbiolosopher 1y ago

Yes, it's anti-fragile or it isn't. Everyone freaking out about the inevitable government involvement.

roll_the_dice 1y ago

And people always seem to gloss over how the us gov got acquired that gold