Quote from: Darker45 on Today at 11:50:34 AM

Quote from: The Sceptical Chymist on November 16, 2024, 10:27:01 PM

Quote from: Darker45 on November 15, 2024, 02:49:39 AM

The article is poorly written, though. The sarcasm of Peter Schiff seems more precise.
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That tweet sounds like something I've heard before. Didn't some politician make a proposal years ago for buying bitcoin in order to fix the Social Security problem that's inevitably going to happen?

Whatever the case may be, any country buying bitcoin for any purpose (with taxpayers' dollars, I remind you) is extremely risky--and no matter how big a fan you or I may be of bitcoin, I don't think governments ought to be dabbling in it. And not just because of the risk; it goes against everything bitcoin stands for. I'm curious as to whether this story is going to be followed up on.

Yeah, it wasn't Peter who have thought of this idea first. I'm not sure if a politician has already put forward such a proposal, but this possibility has already been discussed before, at least the part that the Social Security fund be used to buy Bitcoin.

I'm partly of the idea that government shouldn't enter into the business of investing. Every penny that the government has should be spent. Whatever the government has should be used to serve and invest in its people. It isn't their business to make money. It's their business to look after the welfare of the people.

However, many countries have investment funds, sovereign funds, wealth funds, or whatever you call it. If they have such, why can't they indeed invest in Bitcoin?

The US senator lead by Senator Cynthia Lummis is working this to happen this is interesting article explain about it https://dig.watch/updates/us-senate-plans-bitcoin-reserve-under-trump also this one https://cryptobriefing.com/strategic-bitcoin-reserve-us/

So if they can pass that law and Trump will sign it which possibly it might really happen then imagine another huge impact it can give to bitcoin.

Provably they will not put everything in bitcoin, but rather they would just separate some funds to use for their investment. I guess they provably do some study with this since for sure they have lots of economic advisers working for them. So lets just see if their decision to make bitcoin as their global reserve would really bring something great for their country.

Maybe other country can afford to risk now or they are still skeptical that's why they are still away and not thinking about bitcoin for now. But for sure everything will follow in future if there's more positive effect it can bring to the country adopt it.