Oddbean new post about login | logout Reconsider the strategic reserve https://image.nostr.build/4a1f8057f9b22b0e351b239967332e3bc94bc1f775c189e4f32675cf5c58d7cf.jpg
I understand this argument but disagree. Banks have been around since before modern fiat and will be around afterwords. The old system is dying and they'll just make sure they're at the top of the next one. Adapt or die.
*Commercial* banks will still exist, but they will be a shadow of what they were because Bitcoin killed the central banks. (The binary argument of banks vs no banks is a useless Straw Man that Saife, Saylor, and all of Nostr abuses and gets us nowhere.)
Central banks, commercial banks, states will have to adapt or die, they're still fiat and can't compete with Bitcoin. Everyone will have to get on board or be steamrolled. They can fight and disagree as much as they want makes no difference.
Central banks and Bitcoin are fundamentally incompatible.
Nothing to stop a central bank holding bitcoin as a reserve for their fiat
Trojan horse
I prefer anal suppository but same thing lol
Nailed it. These bastards are just plain evil.
End the fed
.. not waste time and sats on the politics circus, and WORK HARD TO STACK SATS instead. 👇 nostr:note15vsgkwrlvjqp0g0y5cyy7ax3uxcsk0f22hrneccz934ag3eqtz0qvdyufu
Brutal
https://nakamotoinstitute.org/mempool/everyones-a-scammer/
The is govt can also just not sell the bitcoin it currently owns. Also, a bill could be passed to setup a dca for the govt. The fed doesn't have to be involved at all unless the govt decides to change the dollar backed by bitcoin in which case they can just end the fed.
The Fed controls the government, not the other way around.
The fed exists at the authority of congress. They can just pass a bill disbanding the fed.
Who do you think the people will blame when inflation is at 30% because a government that only cares about surviving is printing money to buy Bitcoin?
Russia? China? The Fed can start a hot war. If it’s Bitcoiners, by then you’d have enough wealth to leave before the bread rises.
so elocuent and dangerous. I was thinking of using the oposite argument on my family next xmas. argument ruined, thank you Saif
Still not sure which one is the greater threat, central banks or institutions run by high time preference individuals. If it's the latter, the only effective solution may prove to be voting with one's suitcase. nostr:nevent1qqs2xgyt8plkfqqh58j2vzz0wng7rvgt8549t3euuvpzc675gus938spr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qgswrlyglr3hs7z9slprxl6why9ydsxqvgky9emawhky5d6jruc0vgsrqsqqqqqp9kd0mn
Pumping dollars into BTC threatens the US Dollar not one iota, because -- like it or not -- BTC is pegged to the USD. It's what determines value, and it's the reason all of you watch the price. Like any other commodity traded in Chicago, its value is pegged to the strength of the US economy, which runs on fiat Any and all government investment and interaction (as well as regulation) should be viewed through a lens of disappointment, and as an impediment to the kind of future you beautiful starry-eyed people want to see. What's correct about this post -- the reason I feel a need to write this at all -- is the tone of caution: no government is going to wound its own economy, and everything we scheme about the future of crypto should be through this lense. nostr:nevent1qqs2xgyt8plkfqqh58j2vzz0wng7rvgt8549t3euuvpzc675gus938sppemhxue69uhkummn9ekx7mp0qgswrlyglr3hs7z9slprxl6why9ydsxqvgky9emawhky5d6jruc0vgsrqsqqqqqpx76c0v
ah, for FUCK ACTUAL SAKE. Fed is _not_ private. Get real, dude https://stacker.news/items/745581
What bearing does that have on the strategic deserve debate? Who cares what we label central banks, if our goal is to eliminate them, along with the State?
PS as an aside, I’m starting to think these terms public/private have lost meaning anyway. Could make a case that the State itself is a private organization. Would be cool to chat with you sometime about that. Wouldn’t be surprised if someone from MisesU wrote about it already.
nostr:nevent1qqs2xgyt8plkfqqh58j2vzz0wng7rvgt8549t3euuvpzc675gus938spz9mhxue69uhkummnw3ezuamfdejj7q3qu87g378r0puytp7zxdl5awg2gmqvqc3vgtnh6a0vfgm4y8es7c3qxpqqqqqqzy9tgef
🎯 nostr:nevent1qqs2xgyt8plkfqqh58j2vzz0wng7rvgt8549t3euuvpzc675gus938sppamhxue69uhkummnw3ezumt0d5pzpc0u3ruwx7rcgkruyvmlf6us53kqcp3zcsh80467cj3h2g0npa3zqvzqqqqqqyjggp76
Seems like wise and reasonable advice. Even if it's just through zaps mostly humbly I am gonna keep on stacking sats. nostr:nevent1qqs2xgyt8plkfqqh58j2vzz0wng7rvgt8549t3euuvpzc675gus938sprdmhxue69uhhg6r9vehhyetnwshxummnw3erztnrdakj7q3qu87g378r0puytp7zxdl5awg2gmqvqc3vgtnh6a0vfgm4y8es7c3qxpqqqqqqzs5r6cn
Interesting. Would the FED not bow to pressure from increasing public sentiment + Trump administration? They have to maintain face as well in all this
A criminal organisation which is above nation state does not bow to public sentiments.
Thanks for posting this 🙏
Strategic reserve would bring the cantillon effect directly to Bitcoin price
Can you elaborate?
It would bring government deficit spending, the biggest single source of inflation, directly into the bitcoin market cap. Basically spraying the money faucet all over bitcoiners. And if they really hold it for 20 years, they’ll be able to clear the dollar denominated debt. It seems to me like the most likely version monetary reset.
Whatever it takes to kill the central bank and then the State.
🤝🤝
