Replying to Avatar R E A R D E N

I tend to agree. One opposing idea I have heard relates to the fact that laws were such that gold and dollars were already exchangeable.. Bitcoin is not.. IF a 6102 was planned then present legal tender type laws would have to change, This would be a BIG intermediate step and would favour Bitcoin as a means of exchange or whatever...this would obviously have implications 🤔.
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SPA (Super Phat Arrow) 1y ago

History doesn't have to repeat in order to rhyme. There is USD BTC exchange rate. I can imagine a president declaring that you will get the exchange rate on the day of the order and have X months to sell your bitcoin to the treasury. "Your patriotic duty" etc. The price of bitcoin may dive during this grace period and the gov price may be better than the exchange price, encouraging people to give it up.

After the grace period, people still holding are "traitors" and will be prosecuted.

They can rot in jail until they pay up.

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R E A R D E N 1y ago

I'm a little out of my depth here and I can't recall who I listened to... But...it is not so much exchange rate as it is the fact that under applicable law, gold and dollar were deemed as the same...ie you could rock up and pay taxes with either. But more importantly, under said law there would be no loss if gold was taken and dollars provided and so the 6102 was easily decreed. This is not the case for Bitcoin and so 'they' would have to do some legal jiggery pokery before hand which, if nothing else, would get our attention. Or...they might jus ride roughshod over the rule of law.... Anyway ..nokyc for the win👊