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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52

u/Potatotornado20 🟩 0 / 633 🦠 Jan 28 '25

The problem with this plan is you’re still trusting someone in the government to hold the keys to the wallets.

58

u/iStealyournewspapers 🟦 86 / 87 🦐 Jan 28 '25

They hold the key to what could end all life on earth. I think they can handle some crypto wallets.

7

u/lareigirl 🟩 0 / 0 🦠 Jan 29 '25

This assumes nukes have been responsibly handled.

Just because we’re all alive, does NOT mean there haven’t been dozens of close calls that have brought us within seconds of species-scale annihilation prevented by some normal dude who got enough sleep to say “nah”.

In any event they’d probably shift responsibility to a custodian like Coinbase and then insure their holdings

12

u/iStealyournewspapers 🟦 86 / 87 🦐 Jan 29 '25

For sure. Here’s one example I know about:

“On September 26, 1983, Stanislav Petrov was on duty at a nuclear early warning center near Moscow. Suddenly, the system reported that the United States had launched five intercontinental ballistic missiles (ICBMs) toward the Soviet Union. If true, this would have called for an immediate nuclear retaliation.

Petrov, however, doubted the accuracy of the warning and chose not to report it to his superiors, who could have ordered a retaliatory strike. He reasoned that if the United States were to launch a first strike, it would likely involve hundreds of ICBMs, not just five.

It turned out that Petrov’s instincts were correct, and the warning was indeed a false alarm. The system had mistaken sunlight reflecting off high-altitude clouds for missile launches. By not reporting the warning, Petrov is widely credited with preventing a potential nuclear catastrophe.”

8

u/lareigirl 🟩 0 / 0 🦠 Jan 29 '25

Dude lost his career for that move too.

1

u/iStealyournewspapers 🟦 86 / 87 🦐 Jan 30 '25

Fuck that sucks!

2

u/TheHungoverBand 🟩 0 / 0 🦠 Jan 29 '25

Geese triggering the DEWL.

1

u/TheHungoverBand 🟩 0 / 0 🦠 Jan 29 '25

Hopefully not Coinbase... buy my thoughts exactly.

3

u/subdep 🟦 1K / 1K 🐢 Jan 29 '25

You seem to forget who Dear Leader is. He’s absolutely the kind of guy who will carry the paraphrase in a text file in the clear, on a USB stick in his pocket, attached to a keychain with a rabbit’s foot.

1

u/SoupHerStonk 🟨 0 / 0 🦠 Jan 28 '25

If you end all life or even a country, you're shooting your whole country in the foot. If a person stole 'some crypto keys' that person won't give a fuck and will just disappear gangbanging around the world

1

u/ovr9000storks 🟦 0 / 0 🦠 Jan 28 '25

Well it's a good thing all transactions are visible. It'll be pretty easy to tell what wallet(s) belong to the U.S.

1

u/cryptocraze_0 🟦 551 / 551 🦑 Jan 29 '25

Lol what is this thief going to do with his treasure on a PUBLIC ledger

2

u/Potatotornado20 🟩 0 / 633 🦠 Jan 29 '25

No, they lose the keys and government is locked out forever is what could happen

1

u/cryptocraze_0 🟦 551 / 551 🦑 Jan 29 '25

Maybe gov just buys an ETF

1

u/TheHungoverBand 🟩 0 / 0 🦠 Jan 29 '25

Except maybe not... If they treat it like the current currency, then it would likely be custodial. Right The FED is this sort of half in half out, independent but also not kind of entity.

This could be what was talked about with CDC Kris behind closed doors? Or another major exchange player. Or whatever's going to happen with World Liberty...

Two very different paths possible. But yeah, it's a funny thought to imagine they have to hire a new guy to follow the Prez around, standing next to the guy with The Football, Tezor cold walled handcuffed to his wrist! Haha