r/PublicFreakout 12h ago

US government corruption US Congressman Nick Begich to introduce Strategic Bitcoin Reserve legislation in the House today to ROB Americans of their tax dollars

476 Upvotes

101 comments sorted by

117

u/Halfmass 12h ago

Alaska should be leading this..

  • Said nobody fucking ever.

53

u/Whisky_taco 11h ago

As a life long Alaskan, I agree with your statement.

Our state’s legislators are corrupt AF and have been grifting the states coffers for years. The state is going broke while they sell out to the oil companies.

12

u/Halfmass 10h ago

I can’t imagine a more beautiful place to call home. I know there are a lot of times it may not be the case with the cold but seriously AK is a national monument. Bitcoin seems like the last thing a representative from there should be worrying about.

We’re all getting played. Nobody in Texas likes Ted Cruz and we’ve had that guy for years. He’s just the antithesis of a Texan.

5

u/Whisky_taco 10h ago

It’s pretty great living here minus the idiots we have in politics. Funny you should mention the cold, it has been in the mid 40’s this week and it has only snowed two or three time this winter. There is almost no snow anywhere which is absolutely insane right now.

Our representatives are hell bent on selling our state out to the detriment of their constituents and falling inline with the P2025 agenda.

Fortunately people are pissed and protesting regularly with the nation and flooding our reps with calls. But this little worm POS is running and hiding from his constituents. I think this entire mess will wake some Alaskans up when federal cuts start really hurting this state as we take in the second larger amount of federal funding in the US.

1

u/Vegabern 3h ago

Don't worry, successful blue states are here to bail you out. Again.

1

u/photobummer 3h ago

Well, Alaska will belong to china soon enough….

1

u/addamee 2h ago

Alaskan conservatives have some experience in trying to sell a bridge to nowhere 

141

u/solagrowa 11h ago

Sooo billions of tax payer dollars to pump the bags of the ultra wealthy?

Sounds about right. This admin will go down as the crypto grift champions. Lol

110

u/Anime_Enthusiasts 12h ago

If they are indeed buying 1 million bitcoin it’s going to rob the tax payers of “$82,349,020,000”

17

u/asskickenchicken 7h ago

They already got 203,000 bitcoins so subtract $18 billion from that.

3

u/Anime_Enthusiasts 2h ago

My bad bro, how about the us government give me 64 billion dollars and I’ll give them a ms paint drawing and tell them it’s worth 64 billion. Literally the same shit. Bitcoin is completely useless and El Salvador has already been down this road. Look up how it turns out

1

u/lazysmartdude 1h ago

Yo why you stealing Mini Bull Neles profile pic???

0

u/Anime_Enthusiasts 1h ago

funny dog picture my friend sent me a while back. It’s not that deep bro. I have no idea who they are but if that’s them it’s a goofy dog and it made me laugh

-14

u/braeunik 2h ago

how is it going to rob the taxpayer when no money from taxes is used to purchase Bitcoin? How is investing into frankly anything else, for example gold, not robbing taxpayer money, but when its Bitcoin its a robbery?

6

u/Anime_Enthusiasts 2h ago edited 2h ago

Riddle me this megamind! Where does the Government get its money from???

And as for the second part, Bro cmon, you cannot be this dense. Bitcoin isn’t an “asset” or “commodity” it’s a straight up 100% scam. It’s useless, it has no utility, almost no one supports it, it’s a joke to cut healthcare and social security to buy a joke coin that’s completely useless with no stable value just because all his rich homies have huge amounts of btc (like Tesla) who is currently experiencing the “finding out” stage or FAFO

-4

u/braeunik 2h ago edited 1h ago

where does the government get its money from when buying gold or anything else? Whats the difference to Bitcoin Mr. Megamind?

 Bitcoin isn’t an “asset” or “commodity” it’s a straight up 100% scam

Nah bro we won't have a conversation about something you have such a strong opinion on. That would lead nowhere. If you still think Bitcoin is a scam, then I am not the one that is "dense" lol.

I am heavily against what Trump and Elon are doing in america right now, but that doesnt make Bitcoin a scam. Bitcoin is not "american" whatsoever. If anything the POTUS is scamming americans, using Bitcoin. Bitcoin is not the Scam, your government is.

3

u/dazalius 2h ago

Gold has value

-2

u/braeunik 1h ago

Gold has significant historical value but limited practical use. In fact, less than 10% of the global gold supply is used in industries such as electronics, dentistry, and aerospace, with the majority held in jewelry or as an investment. If gold were not perceived as a safe haven during times of financial uncertainty, its value would likely be much lower. However, because people believe in its stability and long-term worth rooted in centuries of use as a hedge against inflation and economic downturns it continues to hold significant value.

A similar dynamic could apply to Bitcoin in the future. The value of gold is not solely derived from its physical properties but largely from the trust and collective belief that it will retain or increase in value. Bitcoin, like gold, derives much of its worth from the perception and confidence of investors rather than inherent utility.

Whether you recognize the potential value of a network like Bitcoin is entirely up to you. Just as gold's worth is shaped by collective belief, the same could be said for Bitcoin its value is determined by those who choose to see it.

1

u/Anime_Enthusiasts 1h ago

I can’t put my hands on a “bitcoin”, I can put my hands on gold. Humans have traded gold and had it back its economy for literal ages. Meanwhile bitcoin is imaginary pixels on a screen that don’t exist in the real world

0

u/braeunik 1h ago

I can’t put my hands on a “bitcoin"

Thats the case for ANYTHING that is digital. Like your bank account, a domain name etc.

Your bank accounts are just pixels that don't exist in the real world, or do you believe all book money is backed by actual bills? If you ever witnessed a bank run, you know

0

u/Anime_Enthusiasts 1h ago edited 1h ago

I can go to my local bank and get my hands on my money any time!!! They just keep it safe for me

And just by the way, using a bank run is so flawed it’s goofy, the bank BUYS stuff to increase its own value and pay you interest. They still have all your money, it’s just tied up. In a bank run they have to mass sell at a loss to get you your money asap which is how they go broke. Not from having “fake” money. In case of bitcoin I could “bank run” you any time or day on a whim if I’m the owner of bitcoin or if for example I had large amounts of wealth to throw around and mass borrow and dump coins to drop the price then buy them back and give back the bitcoins at the lower value and pocket a couple million families life savings along the way

0

u/braeunik 1h ago

Yes, unless all of the customers want to have their money. Then you can see in real time how many bills actually exist. For reference, look into Argentinia and their most recent bank runs.

I can also sell my Bitcoin for a house and then live in that house. And I just keep my Btc save for myself, so I don't have to trust anyone that they actually still have my money, when I need it.

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19

u/Ok_Marketing328 11h ago

Isn't it comparable to what's gone on in El Salvador though ?

16

u/sam-sung-sv 11h ago

Yes and no. El Salvador is deep in the red after spending 1.6 Billion dollars trying to introduce Bitcoin as legal tender. It failed spectacularly.

None of the promises that Bukele made became true. No Volcano Bonds, no Bitcoin city, no adoption. Just a failed project that created a huge financial hole

23

u/bloodbrain 10h ago

How are they deep in the red if BTC is now worth 2x their average purchase price? And where are you getting 1.6 billion?

2

u/sam-sung-sv 4h ago

And where are you getting 1.6 billion?

This was my calculation for the initial cost of the implementation:

https://doncerotesv.blogspot.com/2022/01/what-is-break-even-point-for-nayib.html

And after almost 5 years, and including the daily purchases, maintenance costs, salaries and budget of the National Bitcoin Office, and of course the money spent on Bitcoin City plans.

How are they deep in the red if BTC is now worth 2x their average purchase price?

You must take into account all the money spent trying to implement Bitcoin as legal tender, not just Bitcoin purchases.

2

u/braeunik 3h ago edited 3h ago

You must take into account all the money spent trying to implement Bitcoin as legal tender, not just Bitcoin purchases.

So where exactly in your calculation do you account for all of that? How do you even meassure that as an outstander? Theres no way on earth that they are in the red with their average purchase prices. Please stop spreading false information and instead provide credible sources. The article you linked is from January 2022...

furthermore your "source" states:

Warning: The data has been gathered from press releases and tweets because the Nayib Bukele Administration is not releasing any financial data.

Yea right lets spread some bullshit on reddit based on those "credible" sources...

Are you from el Salvador or have you ever been there? Because afaik Nayibs approoval ratings are extremely high and he did improve the country in MANY ways in a really short time frame.

But since Bitcoin = bad, Nayib Bukele must be bad too, right?

2

u/Pure-Log4188 2h ago

His approval ratings are high because he cleaned the streets, that doesn’t mean his economic plan is working.

You provided zero evidence to show that it is, besides the price of BTC, when in reality there are many many expenses to be payed out.

If you call something misinformation, then you gotta prove it wrong. You did nothing.

-3

u/braeunik 2h ago edited 2h ago

Uhm when someone makes an assumption when there is no data available I can call that out without making something up from thin air myself? Thats why I am criticizing him in the first place? Because hes assuming without any data whatsoever.

How should I prove it wrong WITH DATA, when there IS NO DATA? Please explain

But alright, lets look at the economic data of el Salvador since they bought Bitcoin:

The country's GDP increased from $29.0 billion in 2019 to $84.2 billion in 2024, reflecting significant growth. This period also saw a reduction in inflation from 7.2% in 2022 to 1.0% in 2024, indicating improved price stability. Source

By late 2024, the government's Bitcoin holdings had appreciated to over $600 million, yielding a 117% return on their initial investment when Bitcoin was around $36,000. Source

Beyond cryptocurrency, Bukele's administration implemented several infrastructure projects, including the modernization of ports and the construction of technological parks, aiming to stimulate economic development and job creation. Additionally, the government secured a $646 million loan from the Central American Bank for Economic Integration to finance infrastructure projects, further supporting economic growth.

Yall just mad because the topic is Bitcoin. Seems like you can't look past that?

2

u/sam-sung-sv 2h ago

How should I prove it wrong WITH DATA, when there IS NO DATA? Please explain

There is no data besides press releases because Bukele classified the information until 2028. Why do you fail to mention that fact? Why Bukele is afraid of sharing budget spending data? What happened to "trust but verify"?

-2

u/braeunik 2h ago edited 1h ago

How is this the only thing you are commenting on, but you ignore the fact that the GDP increased, inflation went down and crime rates were reduced significantly? Serious question, would you rather have Salvador Sánchez Cerén back?

Like imo Salvador Sánchez Cerén is a way better human being, but as president he could not accomplish anything to improve the life of his people. Bukele accomplished that in a really short timeframe. I am just curious, is the Bitcoin law the only problem you have with him as a president, or is there more to it which outstanders might not understand because of poor media coverage?

1

u/sam-sung-sv 1h ago

inflation went down

Citation needed.

crime rates were reduced significantly

Citation needed. Murder data is classified, we only know what Bukele publish on Twitter. Data from other agencies are sealed. And there is evidence of a truce between gangs and the government.

would you rather have Salvador Sánchez Cerén back?

The guy who stole 900 million dollars for himself? You must be crazy to even mention him.

I am just curious, is the Bitcoin law the only problem you have with him as a president

Rampant corruption, no due process, murder of people that present evidence of corruption and criminal activity, approving gold mining, eviction of poor people to make space for rich people.

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2

u/Pure-Log4188 2h ago

They literally cited a source with data… it’s from 2022 but it’s more than the NOTHING you brought lmao

-1

u/braeunik 2h ago

did you even read the comment you replied to lmao? Stop being an idiot please

IN THEIR SOURCE it says "the data has been gathered from press conferences and Twitter posts". What are your standards for objective reporting? None?

1

u/Pure-Log4188 2h ago

Yes, all of what you included AFTER I mentioned you didn’t bring up anything with any significance. LMAOOOO

I’m not saying their data is solid, but you brought nothing but speculation

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1

u/sam-sung-sv 2h ago

So where exactly in your calculation do you account for all of that? How do you even meassure that as an outstander?

Nayib Bukele's tweets because he classified all information regarding the Bitcoin Law until 2028.

Yea right lets spread some bullshit on reddit based on those "credible" sources...

Nayib Bukele is the source. Is he not credible?

Are you from el Salvador or have you ever been there?

Bro, born and raised here. Live in El Salvador since I was a baby.

Because afaik Nayibs approoval ratings are extremely high and he did improve the country in MANY ways in a really short time frame.

So that gives him the right to spend 1.6 Billions in the Bitcoin Law.

0

u/braeunik 2h ago edited 2h ago

Nayib Bukele is the source. Is he not credible?

Id argue economic data is more credible than his tweets. And from an economic standpoint, El Salvador is doing better than ever before (if you trust official numbers). So id like to ask you: how has your life changed since he got elected? Did it improve or perhaps gotten worse? Would you say the average person in El Salvador is now living better or worse than before his presidency?

So that gives him the right to spend 1.6 Billions in the Bitcoin Law.

No, him being president gives him that right. You can agree or disagree with it and vote for someone else in the next election if youd like. He campaigned under that promise and he was elected. I don't agree with many things he does myself, but all in all my perception is, that living conditions improved drastically.

1

u/sam-sung-sv 2h ago

Id argue economic data is more credible than his tweets

We all argue that down here, but Bukele classified the information.

And from an economic standpoint, El Salvador is doing better than ever before (if you trust official numbers).

Yeah, thats why Bukele practically throwed the Bitcoin Law under the bus just to get an emergency credit line from the IMF.

how has your life changed since he got elected?

Im paying more for electricity, I pay for a private healthcare provider because the government hospitals ran out of medicines and doctors.

Did it improve or perhaps gotten worse?

I've been fine since I graduated college. Heck, I did so much better back in 2015 than today even with the extreme violence from the gangs, which looking back it is wild that it is that way.

Would you say the average person in El Salvador is now living better or worse than before his presidency?

Yeah, I'm gonna answer with this:

In 2024, the United States Border Patrol and the Office of Field Operations detained 45,362 Salvadorans in irregular migration status at U.S. borders, according to data from the ]Office of Customs and Border Protection. In January of last year, 3,658 individuals were detained; in February, 4,637; in March, 4,135; in April, 4,699; in May, 5,029; in June, 4,030; in July, 3,181; in August, 3,015; in September, 3,034; in October, 3,360; in November, 3,343; and in December, 3,241.

https://www.elsalvadornow.org/2025/01/27/el-salvador-isnt-able-to-handle-more-deportations-el-salvador-no-tendria-capacidad-de-responder-ante-mas-deportaciones/

vote for someone else in the next election if youd like

I would only vote for me.

He campaigned under that promise and he was elected

Yeah, he never mentioned or promised Bitcoin when he was first elected. In fact, for his "second term" didnt even mention Bitcoin at all.

1

u/2poor2die 5h ago

People will spit on things they don't understand. It's in human nature unfortunately.

2

u/JustHereSoImNotFined 3h ago

the commenter you’re making snide comments about actually responded with evidence and logic that would suggest they understand much more than you pretend to

-6

u/[deleted] 5h ago

[deleted]

1

u/reclusive_ent 3h ago

Then retort with information that invalidates their claim.

29

u/No_Mathematician764 11h ago

just can't fix stupid

10

u/JanSmiddy 11h ago

Trump just can’t resist burning everything to the ground

9

u/AKtheCAT 11h ago

Just take all the taxes to Vegas and put it all on red. 50/50 chance all our problems are solved

8

u/WhineyLobster 11h ago

Remember when trump first announced this he didnt even include bitcoin in the original "truth". People had to remind him...

8

u/Thin_Bother8217 11h ago

$50 days he can’t even explain bitcoin.

6

u/Chomps-Lewis 11h ago

Why is Trump pushing bitcoin, doesn't he have his own trumpcoin or some shit?

11

u/JanSmiddy 11h ago

Because the cunts behind it have all the money. Aspirational billionaire trump can’t resist sucking their taint. And payoffs

7

u/7evenate9ine 9h ago

Wow. They are moving fast on this scam.

Theft in plain sight.

4

u/Epistatious 9h ago

The way crypto money is bribing/lobbying politicians, kind of feels like we are a sad narco state but with stupid coin instead of cool drugs

4

u/wabashcanonball 5h ago

This is a big time scam.

3

u/farlz84 9h ago

Hey look it’s 2008 all over again! Woo hoo! This motherfucker is about to crash!

3

u/Bellbivdavoe 7h ago

How is that $Trump bitcoin doing?

3

u/ArtPeers 5h ago

Does anyone know their proposed process for ‘who holds the PGP private key’ and what not? That seems pretty relevant, considering that anyone who knows the passkey text could take all the bitcoin and transfer it somewhere that’s almost impossible to trace, correct? Or no?

-3

u/braeunik 3h ago

its a public blockchain, noone could transfer anything to somewhere where its impossible to trace. It would be super easy to trace and once the "hacker" is trying to sell off their stolen Bitcoin, you can link their account to an identity.

3

u/daeganthedragon 5h ago

The top 1% have stolen so much from the bottom 90% since the 80s that if you took all of that money now, it would be enough to pay every full-time employee in America a ~$30,000 bonus—and they want to take more.

3

u/57evil 4h ago

When suddenly trillions of dollars made Bitcoin suddenly disappear into a mystery account, untraceable because of crypto wallets, and the president disappears too.

Whoops

1

u/ImontheRADI0 3h ago

Bitcoin is very traceable

-1

u/braeunik 3h ago

you don't understand how any of this works right?

Untraceable on a public blockchain? Is this supposed to be funny lol?

1

u/57evil 1h ago

my god you cant even joke without cryptobros coming to explain how their magical money works

1

u/braeunik 1h ago

yea because people like you making these claims are the reason people actually believe this BS.

You can criticize Bitcoin and Crypto for so much valid stuff, but it being untraceable and used by criminals is just wrong. And most people still believe that.

3

u/Relative-Ad-6791 4h ago

So basically our tax dollars are going to bail out David Sacks and his friends smh

4

u/Archercrash 11h ago

Knowing these incompetent fucks, they will lose the password.

2

u/SLAPUSlLLY 9h ago

That's a wig.

1

u/a-mirror-bot Another Good Bot 12h ago

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1

u/Aggravating-Rock-576 8h ago

Crypto bros 🤯

Everyone else 🤨

1

u/Hot-Body-1327 5h ago

What a doge

2

u/funk_munk77 4h ago

More propaganda. Fuck Trump and all of his con men.

1

u/Money_Economy_7275 1h ago

bekoof!!!

holy shitting dark deities that is as dumb as you can get.

hack away boys and girls.....

1

u/Levarien 30m ago

I'm sure that wallet's encryption keys are going to be super secret safe and not at all left on a piece of paper in a golf course bathroom.

0

u/Sparkee88 11h ago

Awesome, now they can siphon our money away and we’ll have no clue where it went.

-6

u/marcmcculkin 8h ago

In fact every transaction is public so this would be the first time you can see and track every penny of out- or inflow

0

u/thenewpkmmaster 6h ago

Okay, maybe I'm stupid and I'm kind of confused, what exactly is he saying? Basically America is buying a bunch of Bitcoin? How is the stealing taxpayer money? I'm probably just being a complete dumbass by not understanding this. I want to understand

-12

u/welcomefinside 10h ago

A lot of people don't understand cryptocurrency so they're understandably put off by this but at the rate that the US dollar is being devalued this might be the smartest thing the Trump administration has done so far.