Bit_Happy (OP)
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A Great Time to Start Something!
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May 31, 2025, 09:43:32 PM |
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This is Huge, and 30 State SBR bills are currently under consideration in the US. Texas Bitcoin reserve bill heads for governor's desk for approval...The bill also benefits Texas by making it the crypto capital of the US. The state is already the biggest for Bitcoin mining in the US, with the state responsible for most of the US Bitcoin mining hash rate. Thus, creating an SBR will only boost its crypto credentials.... Also: CBDC's soon getting banned? However, it is not just SBRs that are gaining interest. Pro-crypto legislative efforts have generally increased, with Michigan recently introducing four new bills related to Bitcoin and other crypto assets. One of the bills could allow investment of some of state retirement funds into cryptocurrencies. There is another bill to ban the introduction of central bank digital currencies (CBDCs), while proposed legislation seeks to allow Bitcoin mining projects on abandoned oil and gas wells, with tax deductions for the mining programs.... https://coinmarketcap.com/community/articles/683b14b4adf577684c4bc91f/Any thoughts on all this? It's not exactly a "Free-market Revolution," but certainly history making news.
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headingnorth
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May 31, 2025, 10:28:27 PM |
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Great news. Texas has the most bitcoin mining in the US and is very pro-bitcoin. The governor said he wants to be the crypto capital and is expected to sign the bill.
Texas will be the second state to have a true bitcoin reserve (investing with public funds). But unlike the first state of New Hampshire, Texas is huge with 20 times the population.
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ETHEREUM IS THE MOTHER ASSHOLE FROM WHICH THE SHITCOINS SPRING
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nelson4lov
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May 31, 2025, 10:42:24 PM |
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~Snipped
It's not exactly a "Free-market Revolution," but certainly history making news.
Yes. It's the same way people frowned when Bitcoin ETFs were approved. These bills are a step in the right direction. A wise man used to say any publicity is good publicity. Reserve bills are not even a bad thing. They're net-positive development for Bitcoin because if government are making positive moves for Bitcoin, it is enough for the public to know and take action as well especially those that were skeptical about Bitcoin.
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freedomgo
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May 31, 2025, 11:18:39 PM |
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This has finally become a reality.
After so many speculations about whether any state would make Bitcoin a reserve asset, now, one has finally approved it.
Hopefully, more will follow. But even if other states don’t jump in right away, the world is watching. And this move alone could inspire other countries to take the same path. It’s a massive step toward adoption where people trust the government, the government trusts Bitcoin, and in return, people trust Bitcoin even more.
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ellie888
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May 31, 2025, 11:20:57 PM |
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This is the kind of momentum Bitcoin needs right now.
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Ziskinberg
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June 01, 2025, 05:57:15 AM |
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This is the kind of momentum Bitcoin needs right now.
Bitcoin is already in a bullish phase, and if that news was really massive, we would've seen a strong pump by now. So for now, it may not seem like a big deal but in the long run, it’s huge. The fact that the government is starting to consider Bitcoin as a reserve asset adds more legitimacy to it. And it’s not just Texas, more states are likely to follow. Adoption is slowly but surely taking shape.
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Kelward
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June 01, 2025, 12:02:24 PM |
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This is no doubt a bullish news for Bitcoin, I hope that it somehow robs off on the price so that we can see a new ATH in a very short time. Texas, is a big state and a pro Bitcoin, a strategic Bitcoin reserve is what they need to cap it up, I hope that it goes through as planned. This will challenge other states that are still skeptical to get in because Bitcoin has made a name for itself as a store of value. I have the believe that in the near future many countries will embrace Bitcoin reserve to reduce their dollar reserves dependancy. As more countries and institutions are holding it, it'll continue to be more profitable for us retail investors, so now is a golden opportunity to be stashing up before Bitcoin becomes quite unaffordable.
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Frankolala
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June 01, 2025, 12:15:47 PM |
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~Snipped
It's not exactly a "Free-market Revolution," but certainly history making news.
Yes. It's the same way people frowned when Bitcoin ETFs were approved. These bills are a step in the right direction. A wise man used to say any publicity is good publicity. Reserve bills are not even a bad thing. They're net-positive development for Bitcoin because if government are making positive moves for Bitcoin, it is enough for the public to know and take action as well especially those that were skeptical about Bitcoin. Of course, when government lead by example many skeptical people will have confidence in bitcoin, and this will clear all doubts in them about what they think bitcoin is. Texas has done it, and I believe that more states in the US will follow one by one. Bitcoin is gradually dominating and proving herself to be more reliable as a store of value overtime.
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Dogedegen
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June 01, 2025, 12:33:15 PM |
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How much buy pressure can we expect from this, what exactly does the bill say? If someone has a good summary of the key points that would be excellent. It says that a part of the state investment fund will be used, but the article does not specify how much exactly. The support was overwhelming, with a majority of 24 – 7 voting to adopt the report.
This sounds promising, I hope for a quick approval.
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NeuroticFish
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June 01, 2025, 12:43:57 PM |
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Any thoughts on all this? I've seen to many people on this forum during the past years asking for/awaiting for institutional investors... it has to be good now, isn't it? Well... First of all, I'll consider it done only when it's done and it has all the stamps. For now it still needs governor's, right? Then, you people should have been already noticing that no matter what huge amounts the institutions are buying, the market doesn't go sky high. I feel like these guys are way too good market manipulators and I also feel like they don't really buy as much as they claim. It stands for MSTR, it stands for Texas, it'll stand for the other states. Third: as Texas being part of USA, my latest disappointment on the federal bitcoin/shitcoin reserve makes me think whether this will be indeed a bitcoin reserve or a reserve made of Bitcoin IOUs, stablecoins and other shitcoins. And last: since this is political, it also looks like a FOMO. And we know how FOMO ends later on, right? When the price goes lower than a psychological level (and it's not about if, it's really about when) I expect these guys don't have the strong hands Saylor has and they'll chicken out exactly when you guys will also be fearful about the price. So yeah: buy high, sell low, get disappointed of Bitcoin, go for "better alternatives". Does it ring any bell? All in all, I feel it's not as good news as it looks at the first glance. Of course, I would not say it's a bad news either 
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Danica22
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June 01, 2025, 02:34:25 PM |
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This is no doubt a bullish news for Bitcoin, I hope that it somehow robs off on the price so that we can see a new ATH in a very short time. Texas, is a big state and a pro Bitcoin, a strategic Bitcoin reserve is what they need to cap it up, I hope that it goes through as planned. This will challenge other states that are still skeptical to get in because Bitcoin has made a name for itself as a store of value. I have the believe that in the near future many countries will embrace Bitcoin reserve to reduce their dollar reserves dependancy. As more countries and institutions are holding it, it'll continue to be more profitable for us retail investors, so now is a golden opportunity to be stashing up before Bitcoin becomes quite unaffordable.
This is just one state in the US and there have been 2 states with bitcoin reserves before, New Hampshire and Arizona, but they also did not have a positive impact on the price. So don't expect Texas's approval of a bitcoin reserve to impact the price. Overall, it is positive that states are passing laws and creating bitcoin reserves, but what people are interested in is the federal bitcoin reserve, and so far, there has been no significant progress. Only when the Bitcoin Act is passed, we expect the price to skyrocket and we will benefit.
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As-Soon-As
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June 01, 2025, 03:02:19 PM |
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Especially for any institution or country or individual who accepts Bitcoin, it is certainly reasonable because seeing this institution accepting Bitcoin, other institutions will be interested in accepting Bitcoin. Because this is why it will be interested. It is possible to become economically self-sufficient very quickly as a result of accepting Bitcoin, the sooner you participate in the investment and buy Bitcoin and keep it for long-term holding, the sooner you will get your profit. Currently, not only Texas, but also other unique institutions are holding on to this Bitcoin. MSTR is buying the most aggressively. They have been holding Bitcoin for a long time and will buy more Bitcoin in the future. Their aggressive purchase is giving courage to unique Bitcoin accepting institutions.
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Lucius
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June 01, 2025, 03:16:06 PM |
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~snip~ All in all, I feel it's not as good news as it looks at the first glance. Of course, I would not say it's a bad news either  I agree, in the short term most people just want the price to react to this kind of news, but no one takes into account what will happen when one day the people who make the key moves (I mean politicians) change. They are all just following the scent of money, and if there is profit in BTC they will accept it in every possible way, squeeze it out and then eventually discard it. When it comes to Texas and mining, it will undoubtedly continue for years, considering that there is a little more than 1 million BTC left to mine - but as we approach the end of this decade, we will reach the point where 99% of all BTC will be mined. Then we will very likely witness much less interest in BTC mining than is the case today.
How much buy pressure can we expect from this, what exactly does the bill say? If someone has a good summary of the key points that would be excellent. It says that a part of the state investment fund will be used, but the article does not specify how much exactly. ~snip~
According to what can be seen on bitcoinreservemonitor there is speculation about as much as 227 000 BTC, but that is obviously just speculation. Maybe someone knows more about these numbers.
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Agbamoni
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June 01, 2025, 04:42:58 PM |
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Of course, when government lead by example many skeptical people will have confidence in bitcoin, and this will clear all doubts in them about what they think bitcoin is. Texas has done it, and I believe that more states in the US will follow one by one. Bitcoin is gradually dominating and proving herself to be more reliable as a store of value overtime.
The officials who approved signed the Bitcoin reserve in Texas are part of the government, and they follow what their leader Trump is doing. Although some individuals within the cabinets may have opposed the idea or perhaps a hatred towards Bitcoin as a digital currency and pure asset. As many will say, Trump's is the leader, whether you want to adapt Bitcoin or not if it becomes mandatory by Trump everyone will join him, it's not about personal interest here, other states are accepting the Bitcoin reserve I don't see why Texas which have so many cases in the government will not join in.
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Don Pedro Dinero
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June 01, 2025, 05:36:47 PM |
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Any thoughts on all this?
What I am waiting for is the moment when the first of these reserves, whether federal or state, announces that it has bought bitcoin. Bitcoin is already in a bullish phase, and if that news was really massive, we would've seen a strong pump by now.
Depends. Price movements on the news are completely irrational, so we can't conclude anything from it. Rather than expecting the price to move because of the news, I expect the price to move because of a simple question of supply and demand. We are below the S-curve but starting to rise, when the real rise comes, the same whiners who are crying now because the price is not rising will come and say that the price has risen too much because the institutions and the states are hoarding everything and that it is unfair.
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nelson4lov
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June 01, 2025, 10:50:42 PM |
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~Snipped
Of course, when government lead by example many skeptical people will have confidence in bitcoin, and this will clear all doubts in them about what they think bitcoin is. Texas has done it, and I believe that more states in the US will follow one by one. Bitcoin is gradually dominating and proving herself to be more reliable as a store of value overtime. Bitcoin doesn't have anything else to prove compared to a few years ago when all government and institutions doubted Bitcoin's potential. The sheer fact that institutions are raising funds to buy Bitcoin and governments like the US presidency and states like Texas embracing is more than enough proof of that. ~snip~ All in all, I feel it's not as good news as it looks at the first glance. Of course, I would not say it's a bad news either  We will find out when we have full blown bear markets. A lot of these funds, institutions and even governments are paper-hands afaik and will probably shit their pants when bitcoin dumps way lower than their average entry.
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DiMarxist
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June 02, 2025, 02:42:41 PM |
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This is a great move and a great news. These are realities some of us speculated and they are coming to happen. These shows the bright future of Bitcoin and more countries will adopt this move. With this, bitcorn is gradually in charge of the crypto market and it's reliability is stronger. Well done Texas, for taking this lead, we know that more countries and states will follow your footsteps.
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avikz
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Activity: 3500
Merit: 1542
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June 02, 2025, 05:20:13 PM |
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What a sad news!
Bitcoin should really remained with the common people. It is unfortunate to see that US government is now going to control a good amount of Bitcoin and its circulation. This is not something satoshi would have felt happy about.
Slowly more and more governments and corporate will come into this market and will start controlling it. They will centralised everything and ruin the very idea of Bitcoin.
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MinoRaiola
Legendary
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Activity: 2534
Merit: 2489
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June 02, 2025, 08:22:30 PM |
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What a sad news!
Bitcoin should really remained with the common people. It is unfortunate to see that US government is now going to control a good amount of Bitcoin and its circulation. This is not something satoshi would have felt happy about.
Slowly more and more governments and corporate will come into this market and will start controlling it. They will centralised everything and ruin the very idea of Bitcoin.
You are right about that, but nothing is lost. People have to recognize Bitcoin and want to own it. They have the chance every day, but they dont do it. I mean, the battle is not lost, it will take a little longer. The new generation of people is braver, even if many are still missing in Bitcoin. If the big companies get in now, then people will look and understand it better. I just hope they are strong enough to hodl when the price drops. Only then will we see if people understand Bitcoin and waht a big chance we alle have.
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