HB302

I am writing to urge you to oppose HB302, regarding investment by the state in cryptocurrencies. As a software professional, I have long been involved with commercial cryptography, and was initially in favor of cryptography-based digital currency. However, cryptocurrencies have failed to meet their initial promise, and have instead become, in the words of Stephen Diehl, the tool of "planet-incinerating Ponzi grifters". "planet incinerating" because "proof of work" used by bitcoin is essentially proof of squandered electricity. These are purely-speculative devices with no inherent value, and, unlike, say, common stocks, no value to society. The state of NH should not be lending its prestige to such a swindle.

It's absolutely foolhardy to invest the taxpayers' money in a market that is so volatile and unregulated. Please do not allow the state to invest in cryptocurrency.

Precious metals and digital assets are too unstable. Most financial advisors would recommend other investment options.

Precious Metals are already a dangerous and volatile asset, Cryptocurrency and digital assets are on another level. You are practically burning money, since if this bill passes, the state will absolutely be scammed of its investment.

Do not engage in foolishness. Not one representative understands blockchain technology, even though some fool themselves to think they are so smart. Citizens can gamble; Government shall not! Citizens preserve wealth for decades into the future; Governments shall not tax more than is necessary for the next budget cycle. Governments do not accumulate wealth. Every economics think tank (like Mises Institute) and freedom consortium (like JBS) has already spoken on the evils and pitfalls of blockchain technology in regard to digital currency. The answer always comes back DONT DO IT. This technology empowers the entire banking system to surveil even the most mundane of citizens activities and keep those records to manipulate and blackmail, at will, those very citizens.

"Digital assets" (crypto currency) has been wildly volatile. It is not a safe investment for our tax dollars.

I absolutely do NOT want state funds going into crypto. Not enough people understand it so it would be very easy to "game" the system. I don't trust my government to give them that power.

Please vote NO! This is so wrong.

We need fiscal responsibility! We do not need to have our precious dollars invested in risky investments - especially crypto knowing its history. The people of this state are already struggling to even live here and pay their taxes. What happens if the state loses big time with crypto - a scenario that is not impossible at all - and we have that tax burden as well. Terrible idea!!!

Digital assets, crypto, is not a good idea. Crypto requires a lot of energy. Countries doing well with this have invested in alternate energy positioning them well for growth. The US has not and Trump is not a supporter of new energy sources.