Samson Mow, CEO of JAN3 and a distinguished advocate for Bitcoin has outlined six transformative concepts for former President Donald Trump to think about earlier than his speech on the Nashville Bitcoin Convention on Jan 27.
Mow’s proposals posted on the X social platform intention to combine Bitcoin (BTC) into the material of the US economic system and place it as a cornerstone of nationwide monetary technique. Mow’s first thought, the conversion of US debt to satoshis, suggests an modern strategy to dealing with the nationwide debt.
Stabilize nationwide debt
By pegging $1 to 1 satoshi (the smallest unit of Bitcoin), this idea goals to leverage Bitcoin’s decentralized nature and shortage to stabilize and probably cut back the burgeoning nationwide debt.
The chief’s second proposal, establishing a Lunar Bitcoin mining facility, envisions a futuristic strategy to Bitcoin BTC mining. Mow’s thought capitalizes on the moon’s ample pure assets and minimal gravity, which may cut back operational prices and enhance effectivity in mining operations.
This bold challenge may place the US on the forefront of space-based cryptocurrency mining, setting a precedent for worldwide competitors and innovation within the area business.
Nevertheless, Mow’s third proposal aligns with the libertarian ethos typically related to Bitcoin. The chief suggests abolishing the Federal Reserve. By dismantling the central banking system, the US would shift towards a extra decentralized monetary construction, the place Bitcoin may play a central position.
Inflation reparations with Bitcoin
In his fourth thought involving inflation reparations, Mow proposes compensating residents for the lack of buying energy attributable to inflation. Through the use of Bitcoin, which is usually touted as a hedge towards inflation because of its restricted provide, the federal government may present a extra secure and dependable type of compensation.
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Mow additionally proposes making Bitcoin untaxable. By eradicating taxes on Bitcoin transactions and holdings, the federal government may encourage widespread adoption and integration of Bitcoin into the mainstream economic system.
Lastly, making a strategic Bitcoin reserve is one other suggestion from Mow. Nevertheless, it’s just like the promise made by the Impartial presidential candidate Robert F. Kennedy Jr. to signal an order requiring the US Justice Division and US Marshalls to switch the 204,000 Bitcoin held by the US to the Federal Reserve to be held as a “strategic asset”.
In the meantime, Trump is predicted to talk at the Nashville Bitcoin Conference, a major occasion within the cryptocurrency neighborhood.
