If the government starts buying up large amounts of Bitcoin, it will drive prices higher.
Discussion
They know that, and also an announcement would lead to crazy front running. They can’t be that stupid
I don't what they're thinking. Remember that Trump said he only wants Bitcoin mined in the United States. That's one of the dumbest things I've ever heard, and it reflects a total lack of understanding of how bitcoin works. Announcing this Bitcoin reserve plan sounds like it came from the same idiocy that made the comment about bitcoin mined in the US.
Not outside the realm of possibility. Mining being in the US is important tho, check out the work of Bob Burnett or listen to SoftWar on Fountain for free
This is the link for fountain right?
https://fountain.fm/episode/gV57qiyTLtMOgmciofVs
Going to start listening
Yup
I don't see why it matters where the bitcoin was mined. Most blocks are won by massive mining operations, or mining pools. It's an activity that truly knows no boundaries. Technically, the government could setup a huge mining operation of its own to win blocks, but that would be an enormous expense, and wouldn't guarantee winning the blocks. Anyone can discover the right hash. I still just don't see why the geographic location of the mining operations is important, or would justify the expense to the American taxpayers to build and maintain the necessarily large mining farm.
I’d love to have a deeper discussion on this if you manage to review those references!