White House Says Gold Reserves May Be Used to Purchase Bitcoin
finance.yahoo.com
A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...
  • N0body@lemmy.dbzer0.comEnglish
    0·
    1 year ago

    The most stable currency in human history liquidated to buy the least stable, and it won’t even crack the top 10 dumbest ideas this week.

      • DragonTypeWyvern@midwest.socialEnglish
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        1 year ago

        Do you realize that putting your wealth into commodities and securities instead of a deliberately inflated currency is just basic money management?

        And with “securities” not looking too hot right now, that leaves commodities.

        (Also it’s huge warning sign of a recession in general)

        • bitofhope@awful.systemsEnglish
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          1 year ago

          You probably felt really smart when wrtiting that comment, and that’s totally normal and valid. Everyone has lapses in reading comprehension sometimes.

            • bitofhope@awful.systemsEnglish
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              1 year ago

              Okay daddprofessor. Most of us were agreeing that Trump admin trading gold reserves for cryptocoins is a stupid idea. This seems to have attracted people who agreed for the incorrect reason, namely that they think inert yellow metal is the fundamental source and measure of wealth, which David called out. After that it could be one of three things:

              a) You misunderstood what David wrote and rudely insinuated he is unfamiliar with the concept of speculative investment.

              b) You correctly understood what David wrote and — being a goldbug yourself — took issue with it and proceeded to make the aforementioned rude insinuation.

              c) You’re flirting with me a bit too aggressively and it’s activating my brat instincts, professor~

              • DragonTypeWyvern@midwest.socialEnglish
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                1 year ago

                You’re not intellectually ready for college, calm down.

                1. No, I understand what double negatives are and addressed them correctly. You’re giving “David,” and I doubt very much you’re personally familiar with him, credit where it isn’t due.

                2. Goldbugs are people who are unreasonably bullish on gold as a value store, just because it’s gold.

                I am pointing out that it is perfectly reasonable to invest in gold when your government is run by morons both actively attacking the value of the national currency and doing their best to cause a recession. Especially when those morons have a personal financial interest in doing so because all of their wealth is in commodities and securities while their debts are measured in USD.

                • swlabr@awful.systemsEnglish
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                  1 year ago

                  also make sure you get a 100% gold buttplug and sleep with it in. that way you always have a stash on you in case the left take over the government and storm your house

  • normalexit@lemmy.worldEnglish
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    1 year ago

    Gold is real and generally increases in value. Bitcoin is nonsense with perceived value that makes it valuable until it is not. Quantum computing will break a lot of things. Including Bitcoin.