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.
Bitcoin
- Thread starter Split toe
- Start date
Poser
WKR
- Joined
- Dec 27, 2013
- Location
- Durango CO
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
WKR
- Joined
- Jan 17, 2021
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
WKR
- Joined
- Mar 8, 2014
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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). "
Poser
WKR
- Joined
- Dec 27, 2013
- Location
- Durango CO
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
WKR
- Joined
- Mar 8, 2014
Guess we don’t have to wait until tomorrow haha
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Poser
WKR
- Joined
- Dec 27, 2013
- Location
- Durango CO
And…. Bitcoin drops 4K in 5 minutes following the announcement. Makes sense
Poser
WKR
- Joined
- Dec 27, 2013
- Location
- Durango CO
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
WKR
- Joined
- Jan 10, 2016
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.
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.
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.
It could be done without increasing our total debt.
MountainTracker
WKR
- Joined
- Mar 8, 2014
This breaks it down good. Sell gold buy digital gold haha zero cost.
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Eagle
WKR
- Joined
- Feb 27, 2012
- Location
- Western Kentucky
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."
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.
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