A Kid Made $50,000 Dumping Crypto He'd Created. Then Came the Backlash

[Celerity]

14. The whole 'Social Security will be paid in crypto' thing is ridiculous. Same for paying off the national debt with it.

If the US government did actually obtain the crypto bros' target of 1 million bitcopin (BTC), and even IF BTC increased TEN-FOLD IN value, to one million USD per BTC, that yields only 1 trillion usd, which is fuckall compared to what SS payouts would be. In 2024 alone, the Social Security Administration will pay out $1.51 trillion combined between all its obligations.

Not only that, but the US could never sell the 1 million bitcoin without crushing the price (as that 1 million BTC is around 7 to 10 per cent of all actually available bitcoins that will ever exist and can actually be redeemed, as out of the 21 million BTC that can ever exist, 20 million have already been mined and between 4 or 5 on up to almost 8 million are already lost forever via lost wallets, damaged hardware, lost private keys, etc etc).

It is simply impossible to pay Social Security with BTC, same as it is impossible to pay off the US national debt with it.

It is all fantasyland silliness.