Oddbean new post about login | logout Imagine being a government, having stumbled on some #Bitcoin and then SELLING it for THE VERY CURRENCY YOU ALONE CAN PRINT. We are fortunate to have such dumbass adversaries.
Information asymmetry is still vast.
I'd say it depends who they are selling to. If they are selling via OTCs and not in market to ETF holders then I'd see that as one hand washing the other. In oligarchic circles Govts and large financial institutions are more or less the same class of people. Contemplating whether this also extends to MSTR and the likes? Thinking out loud to a degree there.
The good news is that governments are mostly incompetent
Are they really? They may provide shit services to the slave class but it seems to me they're very good at their actual business
What services do they provide that you marked as 5 stars on yelp?
I mean for Fucks Sake 20 years after invading Afghanistan DC handed it all back to the Taliban along with 30 billion dollars worth of weapons Was that a 5 star operation?
So? It's only the slave class who had to foot the bill, kill and die that were at a loss. The state corp came out of it victorious and probably created more problems it'll step in to solve in the not too distant future
Afghanistan may look like a fiasco from the perspective of someone who thinks the state works for them
It may have been pure dumb luck that it drained the treasury for 20 years Or not Point taken I still maintain that government is mainly incompetent but you are correct there are schemes and scams that hide behind incompetence but in reality is just a gravy train for the insiders
Draining the treasury was kinda the point. The slaves' money is stolen from them and put into the kitty while the military-industrial complex and other interest groups drain it It may look like incompetence but in actuality, it's well executed malice
Yes the state is pretty good at wealth redistribution. The greater the failure, the longer the blunder, the further over budget then the greater the distribution will be. Incompetence is built right in to the business model. Money from the many to the chosen few.
Well they are doing it to protect their fiat money system, but yeah, it doesn't help them long term.
You have to admit they are willing to do some crazy things to keep the facade going. Unfortunately you can’t taper a poni.
The selling is an attempt to control the price of bitcoin. The apparent retardation of government employees is a distraction from their true purpose - dumbing down the population and enslaving them for generations. Since they can print unlimited fiat, their goal is not to acquire bitcoin but to delay hyperbitcoinization. Surveillance and control is the name of their game. Now, since bitcoin is limited in supply, this is ultimately a game of chicken. It's a blessing for the hodlers and just noise for the rest.
To be fair, each department within the government doesn't have it's own printer, they have budgets set by congress or whatever. They probably just want more money to spend on their pet projects. But I agree, they are dumb to sell it rather than just hold.