Uncle Sam says thank you very much \ stacker news ~bitcoin

Uncle Sam says thank you very much www.jtwoodhouse.com/uncle-sam-says-thank-you-very-much/

5142 sats \ 14 comments \ @jtwoodhouse 11 Jan bitcoin

Good article as usual. You come at this as a U.S. patriot. I guess we differ in that you see the U.S. as flawed but basically good. I no longer have that faith. I don't trust it with bitcoin or the power it gives.

475 sats \ 2 replies \ @jtwoodhouse OP 11 Jan

Thanks, Siggy! That criticism is warranted.

I've long thought the U.S. is a basically good system relative to those that came before it, but the presence of a money printer is a bug that jeopardizes its overall stability.

22 sats \ 1 reply \ @siggy47 11 Jan

I like your optimism in general, and particularly now. This whole ETF ordeal has had me feeling pretty down. Maybe I'm too negative.

0 sats \ 0 replies \ @jtwoodhouse OP 11 Jan

It is and always has been one block at a time.

30 sats \ 5 replies \ @Krv 11 Jan

Extended AI Summary: "The author of the passage presents a perspective on the recent approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), interpreting it as a strategic and forward-thinking move for the United States. The narrative begins by highlighting the historical context, mentioning America's departure from the gold standard in 1971 and subsequent economic policies leading to significant debt. The author expresses concern about the country's economic standing, emphasizing its reliance on knowledge work jobs and the challenges posed by an aging population and technological advancements.

However, the author sees the approval of bitcoin ETFs as a groundbreaking development that positions the U.S. strategically in the evolving financial landscape. Drawing parallels to gold, the author suggests that while other nations, particularly China and Russia, continue to accumulate physical gold, the U.S. is embracing "gold 2.0" by adopting bitcoin. The narrative unfolds to discuss the potential benefits of this move, asserting that the U.S. can secure a significant amount of bitcoin within its sphere of influence, especially if bitcoin were to gain prominence as a global reserve currency.

The passage delves into the intricacies of the ETF approval, suggesting that it is not merely a response to public demand but a calculated decision by the U.S. government. The author likens the situation to a parent allowing an underage individual to drink under their supervision, asserting that the U.S., represented by Uncle Sam, will closely monitor and control various aspects of the bitcoin market. The text also reflects on the geopolitical context, citing China's expulsion of bitcoin miners in 2021 as a potential catalyst for the U.S. seizing the opportunity and adopting bitcoin.

The narrative broadens its scope to consider the potential long-term impact of this decision on America's global standing, drawing parallels with historical events such as World War II and emphasizing the nation's role as a major player with considerable influence. The author concludes by urging Americans to recognize the significance of these developments, framing the approval of bitcoin ETFs as a bet on the future of the country. The text suggests that, despite uncertainties and challenges, embracing this shift can be seen as a bet on America's continued resilience and adaptability in the evolving world of finance."

10 sats \ 3 replies \ @jtwoodhouse OP 11 Jan

Good bot.

15 sats \ 2 replies \ @Krv 11 Jan

I had plugged it into the AI for myself. Like 10 seconds extra to copy and paste.

0 sats \ 1 reply \ @PlebeiusG 11 Jan

Working on the same. This bot automated?

0 sats \ 0 replies \ @Krv 11 Jan

not automated, but that would be cool

0 sats \ 0 replies \ @Krv 11 Jan

deleted by author

10 sats \ 1 reply \ @Bitman 11 Jan

I might not be up at-date with ETFs, and might be wrong, but perhaps your article should mention that other countries pipped the U.S. to the post in approving spot Bitcoin ETFs the range of discussion in the article might have increased - I believe that Hong Kong is one example:

https://www.bitget.com/academy/hong-kong-poised-to-approve-the-first-bitcoin-etf-in-asia

There's surely an interest to be first, or early, in approving spot Bitcoin ETFs - but I think that seeing it in a worldwide context would be even more thought-provoking.

If you expand your article and reflect on this - you might do an even bigger game theory deep dive.

21 sats \ 0 replies \ @jtwoodhouse OP 11 Jan

That's a fair point and this is truly an international movement. El Salvador has a lot to be proud of. I was aware of that Hong Kong ETF, though from my vantage point, it's hard to tell how big of a deal that is.

I think I'm trying to make the point of "this isn't just good for bitcoin — it's also good for America." And pretty much any country could make that case.

0 sats \ 1 reply \ @Krv 11 Jan freebie

Short AI Summary: "The passage you provided discusses the recent approval of spot bitcoin ETFs by the SEC in the United States. The author sees this move as a strategic decision for the country, comparing it to adopting "gold 2.0" and positioning the U.S. ahead of other nations. The author believes that regardless of the challenges the U.S. faces, the approval of bitcoin ETFs ensures its relevance and prosperity. The text touches on the geopolitical aspects, economic considerations, and the potential impact on the nation's future. It concludes with a call for Americans to embrace this development, suggesting that betting on bitcoin is now a bet on America."