#gm
What would happen if governments adopted bitcoin reserves to never move it (they could even say that they lost the private keys), so that it would not be a threat to the current financial system, the purpose for which bitcoin was created and not depend on banks?
#asknostr #plebchain #bitcoin #grownostr #question #nostr
would only collapse the dollar faster because they'd be printing money to trade for Bitcoin and then the remaining Bitcoin would be more scarce
The purpose of peer to peer would no longer make sense and would become a collector's asset 🤔 Only bitcoin lightning and circular economies would make sense, everything depends on adoption and use. The bitcoin reserve seems to only serve to take some coins out of circulation and make the remaining ones valuable, people will sell and governments will continue buying 🤔
Every #Bitcoin lost is a donation to all othes who have Bitcoin.
"Destroying" coins deliberately imho would not have a bad impact to private hodlers:
- They ll never get all existing Bitcoin
- The remaining Bitcoin go up faster in value and price
- You can theoretically divide a Bitcoin and #Satoshis to nearly indefinite fractions and use it as money.
