Default avatar
npub1du6s...yf3c 11 months ago
Any executive order-that you don't want immediately reversed by a future administration-requires legislation to have a lasting impact. The SBR was never going to be a one and done order that put the United States on the right track. The SBR legislation from Senator Lummis has the long term vision of what a reserve could achieve for the country, and is not reliant in any way on an executive order. The right kind of executive order could help for sure, but is not necessary. The bitcoin centric nature of the legislation comes down to credibility in achieving objectives for the United States that isn't bettered by adding centralized altcoins into the reserve. The reckless spending of my lifetime-and subsequent debt crisis we find ourselves in-can be eased by the United States adopting bitcoin in a reserve fashion. It's a low time preference plan that only works with a monetary asset with a fixed supply and unchanging monetary policy. There's only one of those in existence. The SBR is far from dead, and doesn't need an executive order to succeed. Any EO with a basket of crypto is extremely unlikely to find any companion legislation and wouldn't achieve the time horizon necessary to have an impact.

Replies (2)

I'm not so sure the Lummis bill is the best option
L0la L33tz's avatar L0la L33tz
Some of you may have missed it, but there's a new Bitcoin Bill in town – this time in Oklahoma. While room temperature IQ bros are busy lobbying for the federal government to buy bitcoin, Oklahoma member of the Senate Dusty Deevers introduced the Bitcoin Freedom Act that actually works to protect Bitcoin and its users from Government overreach. Not only does the Bill formalize for merchants to accept bitcoin as payment – it also exempts non-custodial services from requiring money transmitter licenses and protects their operators from Bank Secrecy Act applications. The Bitcoin Freedom Act "ensures that participation is entirely voluntary, respecting free-market principles and empowering employees, employers, and businesses to choose the payment options that work best for them." Fuck the snake Lummis and her lobby bros selling you their NGU schemes as some pseudo-game theoretic 5D chess moves to protect your privacy. *This* is legislation that Bitcoin needs. image https://www.therage.co/oklahoma-bitcoin-bill/
View quoted note →