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Trump Reveals U.S. 'Crypto Reserve'
- ChrisArchitect 2y agoEarlier: https://news.ycombinator.com/item?id=43233455 https://news.ycombinator.com/item?id=43233455
- ipython 2y agoWhat a terrible idea. There is nothing “strategic” about this.
- _9za9 2y ago[flagged]
- bigyabai 2y agoXRP, Solana and Cardano are all failed scams. They had an opportunity to compete naturally with fiat, and they failed. None of them actually displaced the utility of fiat, their greatest attribute is that they can be manipulated without correction. This is exclusively about asset-pumping something too unregulated for the SEC to control.
- _9za9 2y agoYes definitely failed when they were just brought on to a crypto reserve. You have anymore hot takes?
- bigyabai 2y agoPromoted by a Putin supporter. No rational government would do this, it is not being voted on because it is a waste of taxpayer money and a scam on the American population. You know why every single other country in the world doesn't do this? Because they are ruled by consensus, not individual greed.
- _9za9 2y agoYep, what you don't personally believe in is considered by you to be "not rational", got it.
- bigyabai 2y agoAmerica is a secular nation. We don't "believe" in anything, we pay our taxes to be represented in democracy. Blatant scams like this cannot be democratically approved. It is not a populist policy in the slightest.
- _9za9 2y agoGovernments can absolutely try new approaches without it being a con job. If you think it’s a bad idea, show the economic flaws or security holes, just screaming “scam” doesn’t add much.
- bigyabai 2y ago> If you think it’s a bad idea, show the economic flaws or security holes Ok, sure. The US is using taxpayer money to promote channels that are most commonly controlled by enemies of the American state and not allies: https://www.cnn.com/2025/02/24/politics/north-korean-hackers-crypto-hack/index.html https://www.cnn.com/2025/02/24/politics/north-korean-hackers... Treating digital currency equivalent to a hard asset will result in Americans being defrauded, exchanges losing control and the funding of adversarial powers including but not limited to nuclear-armed rogue states, Hamas, and the Chinese Communist Party. Whereas the SEC would ordinarily be able to investigate or stop this flow of money, with cryptocurrency they will have no such control.
- _9za9 2y agoAmericans will have to get smarter but by not participating we are handing complete control to the 'enemies'. The majority of Americans do not have to participate but those who want to, should be able to, and the government needs to be smart enough through participating to understand where and how to regulate and control aspects of it for those who do participate.
- cebert 2y ago> There is nothing “strategic” about this. It’s strategic for the administration to throw a bone to the crypto bros who supported its candidacy. It may not be strategic for the United States.
- deleted 2y ago[deleted]
- Finnucane 2y agoIt's strategic in the sense of payback to the cryptobros who helped get him elected. Also, his VP is a cryptobro. Does it make sense from any other rational perspective? Of course not. It's totally about payback.
- throwaway5752 2y agoThis is lighting your hard earned tax dollars on fire - and everyone on this forum knows who is benefiting from it. The only surprise is the presidents personal shitcoin isn't included in the basket.
- moshun 2y agoAnother fresh angle to loot the treasury and exploit suckers for profit.