Replying to Avatar Bitcoin for Freedom

Japan should print the rest of the Yen’s value to buy #bitcoin. If not they will become a third world country very soon.
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Guy Swann 1y ago

What's crazy about this is that its a massive asymmetric win for the first countries who do this.

Especially a smaller country, if they invest as heavily as they possibly can into #Bitcoin, then when other nations get on board, they will get massive multiples of their cost back relative to the gain of everyone else.

I know that seems obvious in a way, but consider that it means a dying currency could literally save itself, by printing itself to purchase bitcoin...

It's basically like the reverse of the benefit of the world reserve gets when being printed -- they get to dilute it across all other nations. The #Bitcoin treasury *gains* value in proportion to the adoption across all other nations.

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Chris Liss 1y ago

There are incentives at the national level, but disincentives if you’re a government official because once you do this, your local currency is dead, and you simultaneously cede power and bankrupt all the rich people who paid for your political ascendance in the first place. Not to mention drawing the ire of the US deep state.