Nope, when bitty is $1M/BTC on its way to a whole lot more, governments wont have funds to operate as they will have no buyers of their treasuries.
Definitely not in the US, at least. They’ll be trying to calm the “masses”…the bigger threat to bitcoiners is the “masses.”
I’ve never been afraid of the dragon or the bear. It’s the unhinged and gullible masses that keep me awake at night. They’re the ones who have never batted an eye when asked to wreak havoc upon their fellow man.
The absolute last thing governments let go of will be law enforcement and tax collection. Treasuries will be shoved down the throats of a whole bunch of state-sanctioned entities who might be unhappy buyers of treasuries, but they’ll be buyers nonetheless.
In your scenario there is effectively no government and I’m sorry but that’s every bit as naive as Marx saying the state would whither away and die - it’s just not how things play out in reality.
Even in countries that have fallen apart in modern times, they maintained these minimal functions because without them the politicians are an enraged mob away from having their heads lopped off and it’s preferable to the individuals within police and tax collectors to take some money from the husk of the state than join they baying hungry masses long since cutoff from funds and food.
