RandAlThor@lemmy.ca to News@lemmy.world · 1 day agoTrump announces strategic crypto reserve including bitcoin, Solana, XRP and morewww.cnbc.comexternal-linkmessage-square42fedilinkarrow-up1184cross-posted to: politics@lemmy.worldcrypto@lemmy.mleconomy@lemmy.world
arrow-up1184external-linkTrump announces strategic crypto reserve including bitcoin, Solana, XRP and morewww.cnbc.comRandAlThor@lemmy.ca to News@lemmy.world · 1 day agomessage-square42fedilinkcross-posted to: politics@lemmy.worldcrypto@lemmy.mleconomy@lemmy.world
minus-squareatzanteol@sh.itjust.workslinkfedilinkEnglisharrow-up9·1 day agoThat’s not what makes a currency stable. The Fed wouldn’t need to work so hard if that’s all it took.
minus-squareVoroxpete@sh.itjust.workslinkfedilinkarrow-up10·edit-21 day agoWhy? Because a whole bunch of it is locked up somewhere? That’s already the case for bitcoin. Only a tiny fraction of the total supply actually moves. The vast majority is either in abandoned or lost wallets, or being held.
Wouldn’t this give it stability?
That’s not what makes a currency stable. The Fed wouldn’t need to work so hard if that’s all it took.
Why? Because a whole bunch of it is locked up somewhere? That’s already the case for bitcoin. Only a tiny fraction of the total supply actually moves. The vast majority is either in abandoned or lost wallets, or being held.