Obviously right now we live in a fiat world where Bitcoin is a small but growing part of the global financial system
I think it’s possible we could live briefly in a fiat world actually “backed” by Bitcoin in the way BW system was dollars “backed” by gold
But not for long. Don’t forget BW only really lasted about 15 years
I think BTC obsoletes / replaces USD but this is still a wild chart (from ZH today)
Crazy to think how much of this has already happened or is in the works
Which private banks allow bitcoin sales, or are in progress? Still waiting to see more developments from JPM, Citi, Societe Generale, UBS, Deutsche Bank, HSBC
"Sly, roundabout way..."
Too bad that "actually buying things with Bitcoin" doesn't show up on that list.
The future is in our hands. That's not much but sure 😉🧡
The ECB reserves were 15% gold when the Euro was created. The gold market was also liberalized then. The idea was to create a game theory that would strengthen the Euro when people fled to gold. That obv didn’t hold up. But to this day you don’t pay capital gains on gold in Germany if it’s held longer than 12 months. The same law applies to bitcoin. So perhaps this might be a path to a bitcoin standard in the Euro area if we got different policy makers.
