But it seems to be a huge industry. Trump was addressing their conference (see video) and was made welcome
Bitcoin IMO was released to bring the resistant masses along to digital currency, while being able to experiment with and perfect it in a large test environment.
As part of that it needs to be institutionalized and propped up to some degree as a store of value, which is what Wall Street has been doing. The more government is involved in it, however, the farther it moves from the fantasied freedom ideal that it was originally pitched with.
With bitcoin If / when the power goes out I don’t have any money, right?
Trump’s got it right - cover all the bases...
With sovereign currencies being destroyed by their own issuers, alternatives will be found. Bitcoin is one alternative, and could wind up as a reserve currency in the future. Its most attractive attribute is that’s its construct puts it beyond the reach of the Central Banks manipulation and corruption. The days of the US$ being the primary reserve currency for international trade are fading, killed off by the abuse of it as a weapon against the US’s perceived enemies.
Good. We should maintain a reserve of Gold and other precious metals, Bitcoin and some commodities like Grain and Oil.
Our government should stay out of bitcoin. It’s inherently speculative. And lefftist entities will seek to destroy our bitcoin reserve by crusading against it.
Interesting
Bitcoin is too easy to hack...Gold or Silver are safer bets. Wondering if Trump is a wolf in Sheep’s clothing and really driving Fed Coin...which would be very, very bad!
BRICS+ countries intend on creating a currency backed by a conbination of gold and a basket of national currencies, and maybe oil.
This “unit” will rival the US dollar.
I wonder if this is Trump’s response to that where the American dollar is backed by BTC and gold (do we still have any?).
If this is his plan I think it is a smart one.
Are bitcoin miners legally liable for their misbehavior? What if the miners convert all their bitcoin holdings into other assets and then go "on strike" (i.e., stop processing bitcoin transactions or demand higher transaction fees)...what happens to the bitcoin system?
I bought bitcoin back in it’s early days. I fluctuated around $1,000.00.
Bought low and cashed out at peaks. Made some decent profit.
Then government stuck their nose in the tent and decided to tax it. That’s when I got out.
Looking at where bitcoin is now ($67,778.00) , I wish I had held on to a couple of them.
Doubt BitCoin will ever be stable enough in market price to function as a currency. But hey, if the feds have seized some already, it seems harmless to call it a reserve.
Politicians say things. They don’t always mean them.
Strategic oil reserve first.
My guess is that the 210k BTC is long-gone, and Trump is doing this to flush out the bad actors in our gumming who stole it all.