Bitcoin

[Poser]

I'm a long time holder of BTC, ETH, SOL and XRP. I dumped Cardano last year. I think that only BTC makes it into the Crypto Strategic Reserve. BTC is 90% of my crypto portfolio.

What are your thoughts on the "follow the money" component of Trump's personal crypto holdings as well as World Liberty Financial's significant holdings of Ethereum compared to Bitcoin? They also hold a lot of LINK.

 

[D S 319]

Brad Garlinghouse, the CEO of Ripple (XRP) is on the confirmed list. the co founder of Chain Link is also showing as confirmed.

The unconfirmed list is showing the co-founder of ethereum as well as the co-founder of Solana.
The cofounder of Circle and the CEO of Tether are also currently unconfirmed.

Yeah you’re right and I see you mention why those folks might be there cause he owns a lot of their stuff. Him putting those coins into it would essentially be a bailout IMO.

 

[MountainTracker]

Sent from my iPhone using Tapatalk

 

[fmyth]

What are your thoughts on the "follow the money" component of Trump's personal crypto holdings as well as World Liberty Financial's significant holdings of Ethereum compared to Bitcoin? They also hold a lot of LINK.

World Liberty Fund is a Defi business startup so of course its largest holding would be ETH, the native coin of Ethereum, the baselayer blockchain network they have chosen to power their decentralized finance applications. They have also purchased a large amount of other Defi cryptos including WNTC, AAVE, LINK, TRX, and ENA which are all financial services utility coins.



According to the project, World Liberty Financial’s mission is to “Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance.” The project’s goal is to ensure the dominance of U.S.-pegged stablecoins, where these will remain the world’s settlement layer for the coming century, just like how the U.S. dollar has been the cornerstone of global finance.


World Liberty Financial has not launched yet, but current developments suggest that the project will first launch as an Aave V3 instance. This means that World Liberty Financial will first launch as a marketplace for borrowing and lending cryptocurrencies utilizing Aave’s infrastructure, sharing protocol revenue with the Aave Decentralized Autonomous Organization (DAO). "

 

[fmyth]

Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Senate! Now only waiting on the Governors signature to be implemented. Texas is front running the US BTC Strategic reserve.

 

[Poser]

Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Senate! Now only waiting on the Governors signature to be implemented. Texas is front running the US BTC Strategic reserve.

Interesting. This dip has been making me a bit anxious, but I've been buying almost every day and Bitcoin seems to have held critical resistance. It crazy to think that, even just a year ago, we would be talking about 80-93k as the buy zone.

 

[MountainTracker]

Guess we don’t have to wait until tomorrow haha

https://www.reuters.com/technology/trump-signs-order-establish-strategic-bitcoin-reserve-white-house-crypto-czar-2025-03-07/

Sent from my iPhone using Tapatalk

 

[Poser]

And…. Bitcoin drops 4K in 5 minutes following the announcement. Makes sense

 

[Poser]

So… the EO only orders the treasury to build the reserve with Bitcoin that has been seized. No purchasing by the federal government. That’s not going to do anything for the markets at this time.

 

[fmyth]

So… the EO only orders the treasury to build the reserve with Bitcoin that has been seized. No purchasing by the federal government. That’s not going to do anything for the markets at this time.

This wording is important: "The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers."

"Budget-neutral" leaves the door wide open for making additional purchases. They could take some of the money DOGE has saved us and buy more BTC. I think the most likely scenario is where Michael Saylor comes in. The US Government will issue US BTC Bonds and use the proceeds to buy BTC.

 

[PNW bow hunter]

This wording is important: "The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers."

"Budget-neutral" leaves the door wide open for making additional purchases. They could take some of the money DOGE has saved us and buy more BTC. I think the most likely scenario is where Michael Saylor comes in. The US Government will issue US BTC Bonds and use the proceeds to buy BTC.

View attachment 849982

Would the government issuing a bond to borrow money they have to pay interest on to buy bitcoin be budget neutral?

I really hope the US government doesnt go further into debt to start buying bitcoin.

That seems like a bad idea.

 

[fmyth]

Samson Mow:

Some Bitcoiners are saying the Strategic Bitcoin Reserve doesn’t do anything because it’s just seized assets and there’s no buying. Well, there will be buying. There are a number of “budget neutral” ways to acquire Bitcoin such as issuing #BitcoinBonds or selling gold. Give it some time.
@howardlutnick
will get it done. Next, the significance of the SBR creation is immense. The ETFs legitimized Bitcoin as an asset class and opened the door for institutional investments. Today, with the stroke of a pen,
@POTUS
has equivocated Bitcoin with gold. The SBR is a digital Fort Knox. Let that sink in. The real race for nation-state #Bitcoin adoption really begins. The SBR also means we will finally get an official audit for how much Bitcoin the US actually has. Every figure we have now is simply an estimate, and we know the US Marshalls have been selling off BTC for the last few years. It’s likely the US has 112k BTC or less because 95k belongs to
@bitfinex
and will be returned. It does not have the 207k to 220k BTC number that many news sites usually go with. This would put China in the pole position with 194k BTC. Now, you can imagine why that won’t be acceptable. With Bitcoin being deemed as strategic, the US will want to have the most - there will definitely be an audit of the supply and then ADDING to it. Competition is good for Bitcoin. Plan accordingly.

 

[fmyth]

Would the government issuing a bond to borrow money they have to pay interest on to buy bitcoin be budget neutral?

I really hope the US government doesnt go further into debt to start buying bitcoin.

That seems like a bad idea.

It could be done without increasing our total debt.

 

[MountainTracker]

This breaks it down good. Sell gold buy digital gold haha zero cost.


Sent from my iPhone using Tapatalk

 

[ODB]

Why does everything crypto feel like this:

 

[Eagle]

This may have already been discussed, but what happens when quantum computers get involved and steal billions of dollars worth of crypto? I realize the money in my own bank account is no safer than bitcoin at that point, but just curious as to the thoughts of those in the know.

 

[fmyth]

This may have already been discussed, but what happens when quantum computers get involved and steal billions of dollars worth of crypto? I realize the money in my own bank account is no safer than bitcoin at that point, but just curious as to the thoughts of those in the know.

A physicist’s journey into cracking the bitcoin. | HackerNoon

Bitcoin has rattled some powerful cages. It is prophesized to be the “<em>ultimate</em> <em>decentralizer”</em>; the “<em>dethroner”</em> of the centralized banking elite. So it is evident that in order to be placed and hyped into such a historic trajectory, it needs to be governed by laws and...

hackernoon.com

"...even if a Quantum computer is employed, it would still take 10^ ³² years to calculate one hash. The public key is passed through numerous one way hash functions which are essentially quantum-resistant.

That time period is longer than the 14 billion years the universe has existed, but less than the estimated 10¹⁰⁰ years until the universe crunches during the heat death."

 

[gbflyer]

My wife and I started buying. I kill every investment I ever make when I go outside of what I know, which is work. Get ready for the freefall boys!

 

[fmyth]

My wife and I started buying. I kill every investment I ever make when I go outside of what I know, which is work. Get ready for the freefall boys!

Don't sell on the first dip. Make a promise to yourself not to sell for a year no matter what happens. Most industry leaders expect the majority of G20 Members to establish their own Bitcoin reserves. I think we will see BTC hit 1 million by 2030.

 

[MountainTracker]

Sent from my iPhone using Tapatalk