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No, you haven’t thought it through. The State won’t have Bitcoin in the long run because theft becomes an unprofitable venture and everything the State has is stolen.

Kayne 6mo ago

The state will confiscate Bitcoin from its own citizens when Bitcoin becomes the global reserve currency.

Which it will.

The state will scample to confiscate as much from the people who own the least and can't defend themselves.

Nepal and El Salvador will probably be the least likely to confiscate because they're already investing early they won't need to.

Their citizens will be the most privileged people on earth, their economies will be economic powerhouses.

But other governments really won't have a choice.

They will first offer you a stable coin, to replace the local currency, in exchange for you Bitcoin, but if you don't accept they will black bag you and your family in the night and torture you, and torture you family making you watch.

And after you give up your seed phrases they'll kill you and your family.

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Discussion

Comte de Sats Germain 6mo ago

Correct. But they'll use drones and the publicized threat of drones because drones are cheaper. Also it Bhutan, but close enough.

freemymind 🇨🇭 6mo ago

You are both quiet rare pessimist with a big realitydisconnection.

The state is only a group of people, same as a company is a group of people. In order to rule, a government always has to legitimate itself.

Democratic politicians legitimize their power through elections and the political institutions through the decisions of the politicians. Jourists legitimate their decisions on the laws. Laws are created by executive power and accepted by parlament.

National banks have independence from politics and have independent goals to get to 2% inflation and stabilize the value of the money.

So whome of the above named sends the drones to your face nostr:nprofile1qyd8wumn8ghj7un9d3shjtnndamx2un9d9nkutnpwpcz7qpq2h6h8dj3ale4rk6hkpsp6gcz9kx9xtucyhd3pftn86lnn0j25gdslv72w4 ?

Comte de Sats Germain 6mo ago

The state is not those things. The state is whoever has the power. If those things don't have the power, someone or something else will ; and if something or someone else has the power, then that's the state. There are many ways of legitimation, and the approval of the farm animals is not the only way. Throw a dart at a map and tell me what you hit. You live in a bubble made out of your ignorance. It doesn't sound like you've ever travelled or experienced risk.

I have, and I had the balls to risk my life in a situation where I had no power. I openly defied the police in a communist country. I lived. Now you tell me about states and legitimacy. You're a clown.

freemymind 🇨🇭 6mo ago

You definition of what a state is deffers quiet a lot from mine.

Also there is a big difference between your definition of a state and the various definitions on https://en.m.wikipedia.org/wiki/State

In order to talk about the actions of a state we would have to understand at least what is a state.

And it does not help me to understand what a state is, when I go anywhere and act against the police. Understanding what a state is, is actually a cognitive activity.