Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin save U.S. from its rising national debt?
by
2double0
on 15/12/2019, 18:45:47 UTC
...snip...

how would it fix the national debt? the article doesn't really say. the author just hypes up bitcoin's scarcity and suggests the price will rise. are we talking about scrapping the USD for bitcoin? backing the USD with bitcoin? the treasury holding bitcoin reserves as a hedge?

Neither of all three ways could help out because bitcoin is too scarce in number that if US takes over all of the BTC under their authority, they'd lose it to themselves as the chance of price rising will get to nowhere as it will all be centralized then and no one out of US will take interest in buying it for their wanted prices.

If they don't get all the BTC, they can only accumulate and wait for BTC to play by millions of USD per BTC for them to get even 0.1% of their debts to be cleared off. Nothing is being done by Trump's part actually to play any good in the books of debts reduction.