How would you feel if btc was made a reserve asset? \ stacker news ~bitcoin

How would you feel if btc was made a reserve asset?

1488 sats \ 24 comments \ @stack_harder 6 Nov bitcoin

curious to hear some opinions on this as i know many hate the idea of the gov having anything to do with btc, on the flip side, having it as a reserve currency in a large country could be the thing that tips mass adoption and understanding on a global scale , which would mean more people waking up to the power of btc. it would also end the paper arguments no coiners make and silence them forever

view all related items

58 sats \ 10 replies \ @DarthCoin 6 Nov

Let's say bitcoin will be a "reserve asset". Then what would you use? Fiat? So we are going back to fiat? or a bullshit stablecoin CBDC ?

ARE PEOPLE OUT OF THEIR MIND JUST BY SAYING THIS BULLSHIT WITH "RESERVE ASSET" ?

WHEN PEOPLE WILL FUCKING UNDERSTAND THAT FIAT MUST BE DESTROYED?

33 sats \ 9 replies \ @stack_harder OP 6 Nov

if the US gov made it a reserve asset, then people would still use fiat yes. same as they use fiat with gold being used as a reserve asset.

that's not the question tho. my question is , how would you feel if the gov did it, not should the gov do it.

as i understand, your feeling is that it would be a terrible thing, fair enough. but it wouldn't change a person's ability to get into btc

127 sats \ 8 replies \ @DarthCoin 6 Nov

How the fuck is "getting into btc" if they DO NOT OWN NOTHING? As a "reserve asset" you own nothing, just a fucking IOU.

186 sats \ 7 replies \ @stack_harder OP 6 Nov

darth , stop triggering yourself, gold is a reserve asset and people can still buy it RIGHT!!! So if btc was also used as a reserve asset people CAN STILL FUCKING OWN IT

21 sats \ 5 replies \ @clr 6 Nov

How does gold protect you from government? It has been pretty much useless so far. Yes, you can own gold; how is that working for you?

The point of bitcoin is to replace fiat, not to replace gold (even though it will replace gold as well).

25 sats \ 4 replies \ @stack_harder OP 6 Nov

i was using gold as an example because it is both a reserve asset and it is something that individuals can hold and sell. this was in counter to darth's autistic hissy fit about not owing stuff.

also, while i don't own any, gold has not been useless as a means of protecting purchasing power, you can look at any fiat V dollar. you're as bad as people saying that btc has been useless. gold is also a bearer asset after all.

as for btc to replace fiat, i wasn't even talking about that. i was asking how people feel about it being used as a reserve asset. the question was not 'what is the true purpose of btc'

it's like you people can't read a question properly without spinning off into something else

10 sats \ 0 replies \ @DeltaClimbs 6 Nov

Tbh please STFU with the term "reserve asset", it sounds retarded af. The concept of a "reserve asset" is totally vestigial. FIAT MONEY IS NOT BACKED BY RESERVES. 1971. STOP SAYING NONSENSE WORDS, OK?

6 sats \ 2 replies \ @clr 6 Nov

I would reframe your question to how do you feel about governments, central banks, pension plans, corporations, etc. using bitcoin to try to keep themselves afloat while disparaging it?

You are already getting answers to your question. Please don't get angry at us just because you don't like the answers.

20 sats \ 1 reply \ @stack_harder OP 6 Nov

im getting angry because of people projecting their own shite onto the question. i am fine either way, i actually don't mind the government using it as a reserve asset, in fact, i think it's inevitable.

i would rather people answer with their opinion but what happens is people like darth, start attacking me and projecting for asking a question, then you hop on and make a ton of presumptions.

you should have just answered: 'i hate it because it means central banks, pension plans, corporations, etc. will use bitcoin to try to keep themselves afloat while disparaging it'

simple as that.

view replies

1 sat \ 0 replies \ @DarthCoin 6 Nov outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.

43 sats \ 0 replies \ @0xbitcoiner 6 Nov

TICK TOCK, NEXT BLOCK.

21 sats \ 1 reply \ @Satosora 6 Nov

Government doesnt own bitcoin. It can hold it, but it will never control it.

0 sats \ 0 replies \ @stack_harder OP 6 Nov

they would probably try though

20 sats \ 1 reply \ @flat24 6 Nov

My opinion on this is the following, "BTC does not need the US Government, it is the US Government that needs BTC to try to save the dollar". And to try to save their world dominance, full of manipulation that they carry out through the currency.

Regarding mass adoption, I think that already exists and is taking place, just not as most bitcoiners imagine it. Bitcoin does not need to be adopted by governments to reach more people 👥 We must assume that average people live in a state of illusion, with a dormant brain. And it takes a lot to wake up, it is not until you understand money that you can understand bitcoin, just discovering or knowing about the existence of bitcoin is not enough, since the first encounter of almost everyone is to buy and sell BTC to have more fiduciary bills.

conclusion Bitcoin is already fine as it is, it doesn't need governments, nor mass adoption as some people imagine (who imagine that each person will have bitcoin as well as dollars) that will never happen and the reason is very simple.

Bitcoin is not for everyone, bitcoin is only for those who are awake and see that everything is wrong with the current monetary system, but undeniably there will always be sleeping people who are not interested in waking up or taking over the stores, they only walk because they see others walk, and they will continue to be sleeping followers of the politicians in power.

0 sats \ 0 replies \ @nym 6 Nov

I pretty much agree with you on those points.

32 sats \ 0 replies \ @Undisciplined 6 Nov

This would enhance purchasing power for bitcoiners, so I'm in favor of it. People should still just use bitcoin, though.

10 sats \ 0 replies \ @realBitcoinDog 7 Nov

Pump my bags 🚀

0 sats \ 0 replies \ @justin_shocknet 6 Nov

This has always been the plan, the natsec implications around having the world reserve currency necessitated a neutral money.

Since you can't taper a ponzi, Bitcoin was the fairest possible way to migrate over time it trends towards those with positive cash flow (generating value)

Trump already told us straight up they plan to use it as part of inflating away the debt, thats a few hundred K off the back of each american (increased monetary velocity by not having to capture it in productivity taxes)

0 sats \ 0 replies \ @DeltaClimbs 6 Nov

How about you tip mass adoption in your own brain first and understand the actual transition dynamics of hyperbitcoinization.

0 sats \ 0 replies \ @denlillaapan 6 Nov

Plenty of reading material around for the interested Stacker.

Bitcoin Policy Institute (positive): https://www.btcpolicy.org/articles/digital-gold-evaluating-a-strategic-bitcoin-reserve-for-the-united-states

American Institute for Economic Research (negative): https://aier.org/article/should-taxpayers-fund-a-strategic-bitcoin-reserve/

Josh Hendrickson (pretty negative): https://www.economicforces.xyz/p/what-in-the-world-is-a-bitcoin-strategic

0 sats \ 0 replies \ @Satoshi__Nakamoto 6 Nov

Appreantly it would be bad for us. Although I wasn't stop to trade btc at all

0 sats \ 0 replies \ @DesertDave 6 Nov

No thank you.

0 sats \ 0 replies \ @OT 6 Nov

It is yet to be seen and I wouldn't get my hopes up too high. Trump is a scammer.

I will say its likely to pump the coin though.