This market is closed and no longer accepting bets.
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Merriman07
2 months ago
Vote No: the argument for No is actually quite straight forward and doesn't require nitpicking at all. The BTC community dreams about the government/central bank holding BTC like they hold gold to support the currency. Kennedy announced exactly that saying he would buy 4 Million BTC as a strategic reserve. Then the US would hold same proportion of all BTC as it does of gold. Trump was very careful to say no such thing. He only said the 200k BTC that law enforcement confiscated should not be sold. If you look at the video you can see that he doesn't want to say reserve - because the rational and scale for that is completely different. That No is correct you can also see by the reaction of the BTC price and community, who was really hoping for the reserve commitment and didn't get it.
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Liked by just.some...., Munners and 18 others
🤺JustKen
2 months ago
I'm pretty neutral on this one. I think what Lummis proposed is definitely a strategic reserve -- you buy bitcoin and hold it. What Trump proposed -- that they not sell seized Bitcoin and stockpile it -- is definitely not what Lummis is proposing. And what Trump proposed is not how the US currently operates our petroleum strategic reserve (whereas Lummis is proposing something extremely similar to the petroleum strategic reserve). However, given all of that, Polymarket has been throwing out their rules and siding with the "vibes" of a market regardless of whether it is correct or not. And the vibes here is that Trump announced something similar to a reserve, so it's probably unlikely that a dispute would win. It's really unfortunate that Polymarket is going down the path of throwing out the truth in favor of vibes, but that is their decision.
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Liked by dreamer, n/a and 17 others
Bernardo
2 months ago
I don't have stakes on this one, but seeing this resolution drastically reduces Polymarket reliability for me....
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Liked by Foreseeabl..., n/a and 17 others
GrannyWeatherwax
2 months ago
as per CNBC: Former President Donald Trump said that if he were returned to the White House, he would ensure that the federal government never sells off its bitcoin holdings. But he stopped short of proposing a formal federal reserve of digital currency.
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Liked by dreamer, Munners and 14 others
San555
2 months ago
Trump didn't say anything about a strategic reserve. Simply "not selling bitcoins" is not the same as creating a strategic reserve. The senator who spoke after Trump spoke about the strategic reserve. As a result, the wrong decision was made.
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Liked by dreamer, n/a and 14 others
hortopth
2 months ago
In other polymarket bet, rules state “Note that the US government confiscating Bitcoin does not count as holding Bitcoin reserves.”
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Liked by ThomasAdvi..., n/a and 13 others
n/a
2 months ago
https://www.cnbc.com/2024/07/27/trump-bitcoin-conference-harris.html " But he stopped short of proposing a formal federal reserve of digital currency." Literally sums it up in the first paragraph of the article.
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Liked by n/a, ThomasAdvi... and 12 others
dreamer
2 months ago
CREATION of US Strategic Reserve of Bitcoin as being the condition that settles YES. This however, was not the case and he simply referenced the current strategic stockpile within the current capacity that it HOLDS OR ACQUIRES Bitcoin. HE NEVER MENTIONED OR ENDORSED THE CREATION OF SUCH AN AGENCY
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Liked by n/a, n/a and 11 others
zx3
2 months ago
He said what he said, and it wasn't a "strategic reserve". Additional context is biased and needs sense checking.
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Liked by n/a, n/a and 11 others
Qrc
2 months ago
The UMA voting resolution in my opinion shows a definite flaw in the system. Sometimes the truth is unpopular, but people with "skin in the game" vote in a way to earn, and cant support the truth. Decentralisation does not seem in my opinion to solve this problem correctly, as it would be solved by honest group of experts.
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Liked by ThomasAdvi..., hodak and 11 others