Samson Mow – CEO of JAN3 and a prominent Bitcoin advocate – outlined six groundbreaking ideas for former President Donald Trump to consider ahead of his speech at the Nashville Bitcoin Conference on the 27th. July.
Mow's proposals aim at integrating Bitcoin into the fabric of the U.S. economy and positioning it as a cornerstone of the national financial strategy. Mow's first idea, converting US debt to satoshis, proposed an innovative approach to dealing with the national debt.
Stabilize national debt
By pegging the price of 1 dollar to 1 satoshi (Bitcoin's smallest unit), the idea takes advantage of Bitcoin's decentralized nature and scarcity to stabilize and potentially reduce national debt.
The CEO's second proposal, establishing a Bitcoin mining facility on the Moon, paints an "extraordinary" future scenario for the BTC mining sector. Mow's idea takes advantage of the moon's abundant natural resources and ideal gravity (only 1/6 that of Earth), which can reduce operating costs and increase efficiency in mining operations.
This ambitious project could put the United States at the forefront of space-based cryptocurrency mining, setting a precedent for international competition and innovation in the space industry.
However, Mow's third proposal is in line with the spirit of freedom often associated with Bitcoin. CEO proposes abolishing the Federal Reserve. By dismantling the central banking system, the United States will move to a more decentralized financial structure where Bitcoin can play a central role.
Compensate for inflation losses in Bitcoin
In the fourth idea, Mow proposed to compensate people for the loss of purchasing power due to inflation. By using Bitcoin, which is often seen as a hedge against inflation because of its limited supply, governments can build a more stable and reliable compensation mechanism.
Mow also proposed not taxing Bitcoin, including Bitcoin transactions and holdings. Thanks to this, the government can encourage widespread adoption and integration of Bitcoin into the mainstream economy.
Finally, the creation of a strategic Bitcoin reserve is another proposal from Mow. However, it is similar to the promise made by independent presidential candidate Robert F. Kennedy Jr. when signing an order requiring the US Department of Justice and the US Federal Marshals to transfer 204,000 Bitcoins held by the US to the Federal Reserve to hold as a “strategic asset”.
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