Opinions on a crypto reserve aside, we seize tons of cryptocurrency every year in police actions and then auction it off. Just stop auctioning it off and you don't need to buy anything.
The fuck are we going to even do with reserve crypto? I'm not even on the crypto bit here, the point of strategic reserves is to have stock for emergencies. What fucking emergency can someone possibly imagine that would be resolved with a pile of ETH?
Whether crypto is a good idea for that purpose is a matter of opinion. I lean toward no. Strongly. Make the case either way and it can be a sensible discussion.
what's the point of having a "reserve" in magical internet money if it can fluctuate by 50%? that's not a reserve, that's gambling.
it's a non-starter of an idea. Trump wants it to launder money.
He said we have a gold reserve and that makes sense, but if we become interplanetary, then you don’t want to pay to ship gold to Mars. Crypto solves that issue. The reserve will last well into the future so preparing now makes sense.
Unique take to be sure, but sharing because it was interesting.
For Mars colonization, I was also speaking to the nature of its backers.
But yes, I agree with you on the backers. That's precisely why I don't think they will be the ones landing Mars.
The problem with a Martian (or even lunar) colony is that... there's not actually anything valuable there. So a traditional "earning" colony is basically off the table, and aside from the technological hurdles, is probably why the drive to do it just hasn't been there. Of our closes celestial neighbors, well, Venus is just useless entirely what with how hostile the atmosphere is to our... everything, Mars is quite far away, several months via current technology, and it's incredibly, devastatingly thin atmosphere and lower gravity means any given colony will require a lot and I do mean a LOT of support from us here on Earth to function. Colony isn't even really an appropriate word here, as colonization implies some level of living at the destination and between the lack of breathable atmosphere, lack of any and all flora, and lack of water, you're basically requiring regular supply drops or everyone is just dead.
Really the moon is far better in the transit aspect, which since you're supplying your colony from here, is a huge data point. And even then, what does that colony then do? The moon doesn't have much of anything we're really hurting for, certainly nothing to make up for the exorbitant cost of mining there. I could see it as a valuable location for low-G construction of larger, further-going spacecraft I suppose? But in terms of "expected to earn," I think either the red planet or our friend in the sky is going to be pretty dire.
I think the most interesting point in this is the level in which supporters have stooped to provide 'justifiable' arguments.
But to state the obvious: the Martians can keep their gold in Earth banks, just like Russia used to keep its gold in UK and Swiss banks. Many European countries still do. Even on Earth, nobody prefers to move gold around.
yeah it would cost more to ship it to Mars then it would cost to get a team of the most expensive contractors you can find to dig it out of the surface of Mars with their bare hands.
Not to mention the absurdity of thinking crypto would be more usable over interplanetary internet than VISA/ACH, or that such a society on Mars, when more than a research outpost, would benefit at all from being economically bound and gagged to a distant terrestrial currency.
> Crypto solves that issue.
Asteroid mining solves the issue. Gold will be functionally unlimited. Cryptocurrency will be long forgotten in history books after the first self sustaining space colony exists.
Maybe I am missing something, but what issue were they alluding to?
Yes, databases (anything digital for that matter) are easier to transfer over large physical distances. Why would there be a need to ship or transfer anything in that manner, considering we as earth bound humans have stopped moving around large quantities of gold for purely financial purposes quite some time ago?
Besides being a damning inditement of whatever interplanetary society they were envisioning, I’d be interested in what their view on modern day precious metal trading as a whole is.
>Trump plans to use your money to buy fake money
Not true if it's confiscated funds.
Maybe in this article, but the real corruption is in the insider trading.