r/CryptoCurrency • u/WineMakerBg Make Wine, Take Profits • Jan 28 '25

GENERAL-NEWS Latest Proposal• US Gov to Buy 200,000 BTC annually for 5 years • Hold for at least 20 years • Goal: Halve the U.S. national debt in 20 years

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4.5k Upvotes

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7

u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25

Works if Bitcoin goes up. Bankrupts the country if it doesn’t. Latter scenario is more likely.

6

u/Difficult-Mobile902 🟩 0 / 0 🦠 Jan 28 '25

The Us government spending few billion dollars is not going to “bankrupt the country” lol are you for real? 

And it’s not even a “spend” really, just holding an asset that has historically not only outpaced other investments but certainly retains its value more than any inflationary fiat currency 

Not to mention if the US government creates a reserve, other countries will be compelled to follow, the idea that bitcoin will crash as soon as the US government starts buying a bunch of it is as laughable as your idea that it would bankrupt the country 

Get real man 

-1

u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25

Historically? Like the last 10 or so years?

The US government already does what you’re talking about but with the US dollar and that’s far more successful. If they had 2 million bitcoin they can’t even do anything with it, as soon as they try to sell the whole thing would collapse because there isn’t enough liquidity to buy it (just like we see with meme coins now). They can easily spend that much USD though without anything collapsing.

2

u/Difficult-Mobile902 🟩 0 / 0 🦠 Jan 28 '25

 Historically? Like the last 10 or so years?

Like as in always 

 The US government already does what you’re talking about but with the US dollar and that’s far more successful.

No they do not lol 

 as soon as they try to sell the whole thing would collapse 

So let me get this straight: you believe that the US government would bankrupt the entire country if they bought bitcoin, but at the same time, they’d somehow make such an disgustingly obscene amount of money that they couldn’t even take profits? 

Also weird how you think there’s nothing inbetween selling nothing and selling everything. Sell 1%? Impossible! 

 They can easily spend that much USD though without anything collapsing 

You have never looked at a historical chart of the US dollars buying power, have you? Why do you think supply:demand exists for bitcoin but not for the USD? Because 1USD = 1USD? Lol   

1

u/Spydar05 🟦 0 / 0 🦠 Jan 29 '25

No. It doesn't.

That graph is NOT "historically outpacing" the S&P 500 and that is NOT "retaining its value." Bitcoin = 7 years of nothing, then 3 years of incredibly mild & slow growth, then 2 years of massive & quick growth only to go straight back down to where it was before the 2 years, finally ending in a massive spike in the last ~year due to all the insane grifting that people predicted.

Safe? Are people genuinely saying that insane graph showing 6 years of absolute stagnancy followed by 6 years of completely up-and-down growth by BTC is safer than the entirety of American history before it? That we should throw that many eggs into a thing of the past 6 years?

Like I've said many times when I saw the writing on the wall for Trump winning (as have others): you reap what you sow. If Trump & his team are somehow right about all this, then good. It means America gets better. If he isn't right, his actions are going to plummet us into an even worse situation than we are currently in.

And people are applauding that coin flip.

1

u/Difficult-Mobile902 🟩 0 / 0 🦠 Jan 29 '25

You can try to frame it that way to help you cope but the fact remains that bitcoin outpaces the S&P so much during it’s bull cycles that even despite all the bear cycles you’re fear mongering about, it has still been a much higher ROI over any reasonable timeframe 

 Are people genuinely saying that insane graph showing 6 years of absolute stagnancy 

6 years of stagnancy? lol what are you talking about? 6 years ago bitcoin was $9,000. it is now $103,000. 6 years ago the S&P was $270, it is now $602. 

It is not even remotely close, it’s absolutely astounding that you’re even trying to argue this point when you’re categorically wrong by such a massive margin. 

 That we should throw that many eggs into a thing of the past 6 years?

“that many eggs”? it’s a few billion dollars, the federal government regularly misplaces that amount of money and it’s nothing but a tiny blip on their radar. The amount of fear mongering you’re pushing about this is just insane. 

1

u/Spydar05 🟦 0 / 0 🦠 Jan 29 '25

How long is the timeline of this country? How long is the timeline of BTC? Is that an amount of time that feels safe to you to risk any amount with the current state of the country & national debt?

Do you see the section of the graph where Bitcoin took ~6-7 years to grow by anything notable? I personally define that as stagnant.

Do you believe that a government that just rug-pulled its supporters will only invest the amount that is claimed? In an economy where "Fartcoin’s market cap of nearly $800 million now exceeds that of several well-known brands, including Office Depot, Guess, Ethan Allen, and ZipRecruiter." FARTCOIN does not produce ANY value to the economy or job market compared to the others. Do you really think this will be the maximum amount invested?

Do you believe it will HALVE the U.S. national debt in 20 years?

You are adamantly defending things that, at least, sound crazy.

It's not fear mongering. If this exact thing was being proposed by a politician you disagree with, would you feel the same way? If so, at least there is some logical consultancy to be found.

Any eggs are a risk. Or else we would throw around solutions in this country and hope they stick.

1

u/Spydar05 🟦 0 / 0 🦠 Jan 30 '25

RemindMe! 2 years "Accuracy % of prediction"

-1

u/OccasionalXerophile 🟩 466 / 466 🦞 Jan 28 '25

If US government buys 200,000 BTC a year the price will definitely go up up up, win win situation

1

u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25

It’ll go up until they stop buying it and then they will be the biggest losers at the end when the price comes crashing back down, just like everyone else who’s got a hodl strategy.

-1

u/BuyHighValueWomanNow 🟨 0 / 0 🦠 Jan 28 '25

If US government buys 200,000 BTC a year the price will definitely go up up up, win win situation

Why will the price go up? Because of pure speculation. There is no utility. It will crash on speculation as well.

6

u/sgtblast 🟦 0 / 0 🦠 Jan 28 '25

No bitcoin utility?? wtf are you even doing here bro?

1

u/Benzerka 🟦 0 / 0 🦠 Jan 28 '25

Utility of bitcoin is that you hope to sell it later on for more than you bought it

4

u/sgtblast 🟦 0 / 0 🦠 Jan 28 '25

How about sending payments anywhere in the world instantly? Or a store of value? Decentralization maybe? 🤔

1

u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25

Err you know you can do that quicker, a lot cheaper and to far many more people using many services out there already right? Bitcoin is a solution looking for a problem. No one uses it to transfer wealth, it’s just a get rich quick Ponzi scheme.

1

u/[deleted] Jan 29 '25

Brainwashed. Keep buying your shitcoins.

0

u/Hutcho12 🟦 0 / 0 🦠 Jan 29 '25

I’m not buying any coins at all with the intention of using them to transfer wealth (just like everyone else). I gamble a bit but realize crypto for what it is, a fad that will eventually collapse when the capital stops flowing in.

-1

u/Benzerka 🟦 0 / 0 🦠 Jan 28 '25

So no unique utility? I guess the anon nature makes it good for drugs. Decentralization? A pipe dream, turns out its just being centralized in places like coinbase. Crypto bros should stop lying to themselves, the only important thing about Bitcoin is its value in state backed currencies.

0

u/BuyHighValueWomanNow 🟨 0 / 0 🦠 Jan 29 '25

No bitcoin utility??

I said no BTC utility, not bitcoin, boy.

3

u/Zarod89 🟩 556 / 557 🦑 Jan 28 '25

Quickly transfer international wealth on a secure(proven)network. No banks in between
People are moving billions around in btc in matter of minutes. Try that with a bank.
Any other crypto would instantly crash its network or charge insane fees.

Could also argue gold has almost no utility, the amount of gold actually being used for utility/jewelry etc. is insanely small compared to the amount of gold being held as store of value. Try moving a brick of gold to a different country within a couple minutes.

-1

u/BuyHighValueWomanNow 🟨 0 / 0 🦠 Jan 29 '25

Quickly transfer international wealth on a secure(proven)network.

They can do that now, with swift and bank to bank transfers. Try again.

People are moving billions around in btc in matter of minutes.

Visa processes $38.9 Billion transactions daily in a matter of minutes. Try again.

Any other crypto would instantly crash its network or charge insane fees.

BTC charges more fees than visa. Try again.

3

u/sgtslaughterTV 🟩 5K / 717K 🦭 Jan 29 '25

https://youtu.be/AW-7XBrSqCI?si=wGPag2JoNEaAGk1p - not if you do it the right way.

-1

u/BuyHighValueWomanNow 🟨 0 / 0 🦠 Jan 29 '25

https://youtu.be/AW-7XBrSqCI?si=wGPag2JoNEaAGk1p - not if you do it the right way.

Sorry, not clicking on a random link.

3

u/sgtslaughterTV 🟩 5K / 717K 🦭 Jan 29 '25

Youtube is not a "random link" and moderators have no incentive to provide you with malicious links.

1

u/BuyHighValueWomanNow 🟨 0 / 0 🦠 Jan 29 '25

Youtube is not a "random link" and moderators have no incentive to provide you with malicious links.

What point do you think this video addresses? Visa? Bank to Bank? Or fees? Not sure based on that video? Never heard of Phoenix? Are each of those transactions on-chain? Wasn't clear in the video.

2

u/sgtslaughterTV 🟩 5K / 717K 🦭 Jan 29 '25

fees

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1

u/Zarod89 🟩 556 / 557 🦑 Feb 17 '25

https://www.reddit.com/r/CryptoCurrency/comments/mqxpi0/largest_bitcoin_transaction_ever_happened_last/

I wasn't talking about visa micro transactions. A bank would require multiple days, checks and probably higher fees for a transaction like that. For example.. you can't move billions worth of gold around like that. Bitcoin can do what gold can't. Store large amounts of value and able to move it around quickly. Without a bank asking you questions.

0

u/Snahhhgurrrr 🟩 0 / 0 🦠 Jan 28 '25

where would they get the money for the BTC? Printing? Sounds like more debt to me

-1

u/Silversaving 🟦 1K / 9K 🐢 Jan 28 '25

If every country around the world sees the U.S. buying 200,000 btc a year, I guarantee the price goes up. And other countries join in to not be left behind.

-1

u/Frontbovie 🟦 0 / 0 🦠 Jan 28 '25

You're right. It's 100% self fulfilling.

1

u/Hutcho12 🟦 0 / 0 🦠 Jan 28 '25

Until the end when they stop pumping money into it, it has no value or purpose behind it and it collapses. Just like every other Ponzi scheme in history does when there isn’t enough new capital to support the scam anymore.

1

u/[deleted] Jan 29 '25

If you don’t even understand the oldest, best, and most recognized cryptocurrency….why are you in this sub?

0

u/Hutcho12 🟦 0 / 0 🦠 Jan 29 '25

I understand it, and that’s why I understand the only difference between it and a shitcoin is the popularity of it. Bitcoin has no more purpose or value than anything else at the end of the day though.