A federal bitcoin reserve. What a colossally stupid idea. I mean it would be great for people with lots of cryptocurrency. But it's basically an invitation to embroil money backed by taxpayers in all kinds of new scams. Also, there is probably not enough crypto out there to do this that isn't already tainted with some crime.
We have a national stockpile of crypto; also known the billions we've already seized from crypto scammers.
washingtonpost.com/business/20…
https://infosec.exchange/@briankrebs/113557608625254831
https://www.washingtonpost.com/business/2024/11/27/trump-strategic-bitcoin-reserve-plan/
@briankrebs
Yes, the feds are sitting on seized bitcoin but they have a mandate to auction it off in a timely manner.
Allow me to introduce you to another of my many Bitcoin related side […]
@briankrebs I can't even imagine the amount of security they would need to have around those wallets...
@briankrebs the US doesn't hold other countries' currency as reserves. It makes other countries hold dollars in reserve, and holds gold for its own reserves.
@briankrebs Money is power is money is power is money is power... The rich get richer, and everyone else is just fuel to be burned in the engine of the economy.
@briankrebs the USD isn't backed by taxpayers. The USD is backed by nothing but the FED's commitment to print as much as needed to bailout people with assets.
If backing with real things is […]
@briankrebs Maybe we're nearing the point where the Cryptobros, the Nerd Reich, Evangelicals, Vanilla Isis, the Trump Crime Family, Wall Street and the Fash realise they all fucking hate each […]
@briankrebs I am somehow confused: weren't banks and government supposed to be the evil and cryptocurrencies the workaround? I mean, like 15 years ago, when crypto was populist, not libertarian […]
@briankrebs 🙄 the currency which doesn't need any government backing. I guess the hyperinflation (aka looting) has to start somewhere.
2024-11-28 rexi ┃ edited ┃ 1#️
@briankrebs
after "the great #cryptohack," or some giant high energy solar storm, sometime in our future, valueless.
@briankrebs And at the same time Musk (a bitcoin promoter) is calling to disband the US Consumer Protection Bureau.
────
────