Alexander C. Kaufman on Warpcast

Alexander C. Kaufman pfp

Alexander C. Kaufman

What do you guys think of this Atlantic piece on Trump’s strategic crypto reserve? https://www.theatlantic.com/technology/archive/2025/03/trump-crypto-reserve-executive-order/681977/?gift=iWa_iB9lkw4UuiWbIbrWGUyQhf8gvCA92KnftqDUWHI&utm_source=copy-link&utm_medium=social&utm_campaign=share

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Dan Romero pfp

It's reasonable to just keep seized Bitcoin at this point. Could be convinced that other assets should be sold.

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matthewb.eth pfp

it's a more or less reasonable assessment of the situation but it has the typical normie cope POV which becomes tiring as an industry participant bitcoin "plummeted"? it's down 1.25% over the last 24hr and has outperformed nearly every asset on earth since inception

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horsefacts 🚂 pfp

horsefacts 🚂

@horsefacts.eth

Seems obviously more like an FX reserve than a strategic commodity reserve. We're not going to release more bitcoins into circulation when the Saudis stop mining them. And it seems foolish not to own some nonzero amount of Bitcoin at this point. US gold reserves are ~$400bn so $17bn seems about right. But it's stupid to call it a "Strategic Reserve" and stupid to assume that's the purpose. Perhaps it's because we've classified Bitcoin as a commodity so we all have to pretend it's like orange juice. > Eventually, the U.S. government will be stuck with a bunch of crypto, searching for ways to drive the price higher and having no one to sell it to. This is haterade. Do we pump the price of the Euro because we hold it in reserve?

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Leo pfp

I think this is a classic failure mode for liberal media -> makes reasonable arguments within the narrative it set -> but the narrative is wrong: as @horsefacts.eth says this is an FX reserve not vaccines or oil -> you can detect the sly loathing through biased phrases like saying Bitcoin is useless, and implying the price can’t go up further, which people sprout to resist change in all forms; it’s an ‘I know better than you’ vibe which precludes open mindedness

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Fio pfp

doesn't make sense to compare the crypto reserve to those other reserves, as we don't know the exact structure yet that's why "the rest of us may be stuck with the bill" is a misleading statement that is only intended to create some kind of outrage by people not familiar with that matter other than that, I agree that the US government probably shouldn't acquire new BTC via taxes – but it just makes sense to keep seized BTC (based on historical price performance) it also shouldn't acquire – and probably even keep – currencies beyond BTC

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Garance pfp

What is the utility of a gold reserve ?

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Garance pfp

Affirming the absence of crypto utility is the usual very narrow view. Cryptos helps countless of people in developing countries. Having money that is not controled by any government has already proven to be extremely powerful. So much things could be said on the subject... It's not that it doesn't have utility, it's that they don't get it. Yet...

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kianga.eth pfp

I realized yesterday that what people are calling “crypto” continues to be lampooned beyond what even makes sense at this point. It can’t just be ignorance. It must be design. Trump is the perfect deflector in that many will continue to ignore and denigrate this transition, which is needed for forever dominance to be established by the few. How do you make the legal and structural changes without the thing instantly being bid to 1 million cajillion dollars and bring on the uncontrolled collapse of everything? This is a good way. We are seeing a lot of cringe. For political reasons the forces will do what they do. Meanwhile we will have deregulation and the President of the USA telling you the most powerful nation of the reserve currency of the world is buying and not selling. And people will still fade this. Some masterful psyops going on.

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Dirk Siebels pfp

There are conflicting arguments. Calling it a "strategic reserve" is something to be criticized for sure. But a strategic reserve isn't something that requires rising prices. It's strategic because it's supposed to keep prices stable. That said, the whole Trump grandiosity isn't helping to make crypto more legitimate.

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polymutex pfp

Beyond the points others have already made, I suggest running the following prompt in ChatGPT. I like to run similar queries when faced with any news article these days, crypto-related or otherwise. It weeds out 90% of slanted articles so that I don't need to read them. I also wish all journalists would run such a prompt on their own articles prior to publication, to save everyone time and attention. Prompt: -------- Here is the content of a news article: <paste the article text here> Answer the following questions: - Does the article make any logical fallacies? Point them out with specific quotes. - Does the article employ any emotive conjugation? Point them out with specific quotes. - Is the article merely presenting facts, or is it weaving a specific narrative? Explain. - If the article is trying to weave a narrative, does it fail to bring up any inconvenient truths that would undermine such narrative? - What would a solid counter-argument to this article look like?

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Thomas Mattimore pfp

Thomas Mattimore

Not selling things is reasonable. Strongest argument for anything else is “if worlds financial system runs on eth than valuable for country to have stake in network”. But it’s a stretch to say it’s a priority at this point.

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