A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...
  • MoreFPSmorebetter@lemmy.zip
    0·
    9 months ago

    What a great fucking idea. Let’s take a physical limited resource mineral and trade it for an untraceable and unregulated made up currency.

    Holy shit I’m gonna have a stroke.

  • Wilco@lemm.eeEnglish
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    9 months ago

    This reality is so fucking stupid. Let’s sell something of value to buy something that is only valuable if someone really wants it bad enough.

    • prole@lemmy.blahaj.zone
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      9 months ago

      To be fair, gold is the same. It’s just more well established since it’s been around much longer.

      Not defending this shit, just pointing out that gold is also only worth what people are willing to pay for it. That’s kind of how all markets work.

    • Redditsux@lemmy.worldOP
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      9 months ago

      They don’t. It’s being floated. Trump said he’s going to create a reserve. Not an official act yet.

        • Redditsux@lemmy.worldOP
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          9 months ago

          Apparently, it does, as an act of E.O. that whole line concerns me - that they’ll use the budget to buy bitcoin while laying off workers and cutting social security.