Karnage on Nostr: I just read the EO for the reserve and honestly it sounds fantastic. I don’t know ...

I just read the EO for the reserve and honestly it sounds fantastic. I don’t know what everyone is frowning upon. 

The fact that that is no buying happening is probably a good thing since this is being put into a single basket with shitcoins. You don’t want the public to get angry (rightfully) for utilizing tax payer money to buy shitcoins. That would be a PR disaster for bitcoin by mere association. 

This is like the first time we have had any positive press from the White House that paints bitcoin in positive light and that is huge. I’m actually glad they are not going to buy any further bitcoin at the moment because I don’t want them to have any. This gives us more time to stack, for natural adoption to take place to hopefully severely limit the available bitcoin for the reserve, should the time come to buy.

It’s unlikely congress would approve of any such spending anyway, so it’s weird that bitcoiners expected there to buy purchasing going on. Though, this EO DOES spell out that there will be a review of strategies to acquire more: 

“(c)  The Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.” 

This is the correct path I believe, unless that acquisition involves civil forfeiture (which it could… and I don’t think anyone would be happy with that).