Bitcoin advocate floats BTC as a solution to US student loan problems
Dennis Porter said that the government should give $10,000 worth of Bitcoin to debtors and lock it for 10 years. Following United States President Joe Biden's announcement of a student loan forgiveness plan that aims to cancel the debt of up to $20,000 for millions of Americans, a Bitcoin (BTC) supporter proposed an alternative method to pay off the loans. Dennis Porter, the CEO of the non-profit organization called Satoshi Action Fund, tweeted that there's another way for the U.S. government to solve the student loan issue. According to Porter, Biden could give each debtor some BTC worth $10,000 and lock it within a smart contract for 10 years. The non-profit executive explained that the contract should be sufficient to pay off the remaining balance once it is released. Community members criticized Porter's mention of a smart contract as some believe that the Bitcoin network cannot support this. One Twitter user replied to porter and urged him to not just "lump ra...