Sometimes I think I’m the only one that understands basic economics lol
Discussion
Thank God I went to college
I saw this floating around this morning. They all have this fetish of btc being banned for some reason
I took it as the thought that Bitcoin will be the money and currency of the future. Therefore, people will work for it and spend it, exclusively.
Which will also never happen. As long as there are nation states, they will print their own currencies and require their citizens to use them . It’s all about power and control. What will actually happen is they will back their currencies with bitcoin and bitty will pump even more and the currencies will get stronger
I partly agree. I think most states will back their currencies with Bitcoin. I do think we'll be seeing city states and network states form and use Bitcoin only, in the near future (10-15 years).
I don’t see it happening. It would be an unsafe place to live too without a military, and then you’re talking basically creating a nation state again, which would then issue their own currency. And it would require a revolution from the nation state they are currently residing in (all land is already discovered). The more likely outcomes are always the easiest and painless. That nation states will simply adopt bitty themselves and maintain power and control. It’s already starting.
“I could be wrong, but I doubt it” -Charles Barkley
Yeah that’s how I read it too.
I think he was getting at bitcoin being adopted as a currency. Meaning you don’t “buy” USD. You just earn it from an employer or by providing a good or service.
No that’s still retarded. The USD will still exist and you can exchange it for bitcoin. It will just take many more of them. Am I crazy? How is this even a real discussion lmao . It’s price discovery. It will just result in way higher fiat prices than they are imagining.
Yeah I don’t disagree with you. Fiat has been a relatively short term experiment though and even in that timeframe, a lot of currencies have come and gone. I don’t think the USD will last forever.
Will it go away in our lifetime? Probably not.
Fiat before bitty does. We are in a new era . Doesn’t “Bitcoin fix everything?” Like helping balance a gov budget. And even if a fiat does fail, they will just make a new one . It’s an op utopian dream lol like libertarianism
1000% agree the dollar ain’t going anywhere soon
Any nation state that adopts bitty will be fine. Legal tender status means ppl are required to use their currencies. As long as they survive so will their fiat. Which is why everyone will adopt bitty. Adapt or die
Just look at all the states and nations talking about reserves. Natural progression of things
Who needs basic econ when you have feel good mantras