Question, why is the focus on a #Bitcoin Reserve rather than just serious protection for bitcoin users and holders? I don’t really care whether the US govt holds BTC. I want to establish limits on what they can do to their citizens, clearly and explicitly defined.
Discussion
They need to start giving us tax losses on all fiat transactions (since it always 📉) or stop trying to make people pay taxes on bitcoin transactions. Huge double standard!
Because the bulk of saylorites are in it for NGU, not freedom money
Yes, besides they are going to just buy a bunch of it, that's not the point. I agree I don't want them to have any.
I agree the 2nd is most important but don't see them as mutually exclusive.
cause price go up hype
I concur.
Good point.
But with a strategic reserve, it is a store of value and worth confiscating.
Does any of it really matter? Not every miner in the US, let alone the rest of the world only confirm OFAC compliant transactions. Node runners are even more noncompliant. Governments are having a lot of FOMO right now. But what about consensus?
Lots of people are pondering government spurred soft forks making a mess. What about consensus driven hard forks that restore Bitcoin to people who had it confiscated by a government? What about a consensus driven hard fork that winds back all of the transactions on a government’s reserve coins that they could never get it all back?
I find laws overly restrictive. Even something like a bill of rights. I guess those are our only rights? Wrong! Asking for laws, rules or guidance is only asking for restrictions. Never forget, that the people of bitcoin run bitcoin. When governments ban a thing they only create black markets.
Don’t believe me? I’ll go buy some marijuana in a state where it’s illegal and ship it to you via the United States Postal Service. It happens every day, a lot!
I’m not asking for rules or guidance, I’m asking for confirmation on what the govt isn’t allowed to violate, because they simply will if we don’t have something explicit to point to.
A bill or rights is not a set of rules for the people, it’s rules for the govt to fuck off essentially. They will still violate them, but establishing them clearly is a very strong part of protecting from drift in the social/political sphere.
A bitcoin bill of rights should be simple enough. I thought that’s what all of these lobbyists were working on. Apparently not.
Oklahoma has a decent one. It’s miner centric but also protects individuals.
Saying they will implement a reserve is an easy promise to renege on.
Acknowledging rights to self-custody, regardless of how favorable the policy may or may not be, legitimizes Bitcoin in a way that the issuers of the current global reserve currency don’t want to.
Some of the same people who say government intervention is always bad are also praising a national strategic reserve.
It's because they have lost the battle against #Bitcoin as a store of value so now they need to try and slow down the adoption as a method of exchange. If they came out and said Bitcoin is a superior money AND currency it would destroy the USD a lot quicker than it already is. That's why it's being called "digital gold" so boomers and normies don't work out you can just use it to pay for stuff directly.
Yeah, no matter how pro-bitcoin a politician is (or is supposed to be), government isn't going to act against its own interest.
Our freedom will come with advances in technology and not from policy.
Protect the plebs at all costs
Because finance politics loves reserves.
Reserves are cool.
Dont you know about the cool USD or EUR reserves? So cool.
... /s but you get the idea.