I've just finished reading the article (from 2 months ago) that Nic Carter wrote for BMagazine. I have to digest it, but it's precious to understand the US financial position and incentives in place for this BSR, especially for me, an european dude profoundly ignorant about US markets.
https://bitcoinmagazine.com/politics/i-dont-support-a-strategic-bitcoin-reserve-and-neither-should-you
Overall, I feel that Nic's position is reasonable and it merges with a thought I had ages ago discussing about bitcoin with some random dude: if things fall apart around you, your golden castle will not help much.
If the US economy collapses, you'll not be fine, being you a bitcoin holder or not. If grocery stores will be empty, if micro-criminality raises sharply, you're not fine.
Apart from that, SBR seems like a pushy tryout of some lobbysts to gain some sort of traction within the US political ecosystem. Is it really relevant for the US to be holding bitcoin nowadays? It is for individuals, yes, but at the US nation state level, what's the point? I can get the reason why El Salvador did it, but El Salvador is not the monetary global market-maker. It's like if US were to admit their weaknesses and their inability to keep monetary policies stable.
We know they are not, but it's way different if the US itself speaks that out loud by institutionalizing bitcoin reserves.
I know, in reality the corn will not be bought but only "kept", the manouver will be "neutral". But that is still a clear message for global markets. You're shouting to the whole Planet "guys, I lost it, I'll move to a new set of rules that I know I cannot break...because I don't trust myself".
Good luck with that.
I like the enthusiasm I see, hear, read about these days. But don't let the excitement drive you crazy...NGU is NOT the ultimate goal.
tolot /
npub1ln…r8v28
2025-03-09 21:05:45
Author Public Key
npub1lnjpw7at64lkf5cz5lcymdx3zayc8c60hlp8ykqxpjcjlagyehyqlr8v28Published at
2025-03-09 21:05:45Event JSON
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"content": "I've just finished reading the article (from 2 months ago) that Nic Carter wrote for BMagazine. I have to digest it, but it's precious to understand the US financial position and incentives in place for this BSR, especially for me, an european dude profoundly ignorant about US markets.\n\nhttps://bitcoinmagazine.com/politics/i-dont-support-a-strategic-bitcoin-reserve-and-neither-should-you\n\nOverall, I feel that Nic's position is reasonable and it merges with a thought I had ages ago discussing about bitcoin with some random dude: if things fall apart around you, your golden castle will not help much.\nIf the US economy collapses, you'll not be fine, being you a bitcoin holder or not. If grocery stores will be empty, if micro-criminality raises sharply, you're not fine.\n\n\nApart from that, SBR seems like a pushy tryout of some lobbysts to gain some sort of traction within the US political ecosystem. Is it really relevant for the US to be holding bitcoin nowadays? It is for individuals, yes, but at the US nation state level, what's the point? I can get the reason why El Salvador did it, but El Salvador is not the monetary global market-maker. It's like if US were to admit their weaknesses and their inability to keep monetary policies stable.\n\nWe know they are not, but it's way different if the US itself speaks that out loud by institutionalizing bitcoin reserves.\n\nI know, in reality the corn will not be bought but only \"kept\", the manouver will be \"neutral\". But that is still a clear message for global markets. You're shouting to the whole Planet \"guys, I lost it, I'll move to a new set of rules that I know I cannot break...because I don't trust myself\".\n\nGood luck with that.\n\nI like the enthusiasm I see, hear, read about these days. But don't let the excitement drive you crazy...NGU is NOT the ultimate goal.\n\n",
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