Subnostr

People often ask, “how does Bitcoin fix war? These maxis are psycho”

In the old days, before printing was common and gold was the standard, citizens had to be greatly vested in the war. Largely funded by ‘war bonds’ citizens had to buy these to support and help fund the war..

Also, it was a huge expense that would take away from other things, so it was a major decision needing mutual agreement from the president/house/congress/courts.

Since printing money became popular (started in the 30s, solidified in 1971), wars became easier with the government now able to print what it needed for war, didn’t need their citizen’s support. Since this became an excuse to print money, making politicians and their allies rich through government contracts etc, this practice was a win-win for the politicians and a net loss for everyone else.

With a Bitcoin standard, wars and attacking countries would require ‘hard money’ funding again, meaning the people would need to support it and the government better be getting it right. This would eliminate all

but very critical wars..

How many people these days would be buying war bonds for Ukraine and Israel? Probably very few.. That’s not stopping us from printing billions, and technically wars we are not even in!!..

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Ruminant Llama 2y ago

But what if, a country still on the fiat standard, starts a surprise attack on a country using the bitcoin standard?

Wouldn't "the bitcoin country" be essentially overwhelmed by the Fiat country which has virtually infinite resources to finance war?

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Discussion

Ruminant Llama 2y ago

For example: Honduras or Guatemala decides to invade El Salvador to secure its Bitcoin reserves and mining farms - in the long run they could refinance the invasion with the gained Bitcoin

nostr.build 2y ago

I think El Salvador has been growing in strength and economically and it would be hard for Honduras or Guatemala to print enough to properly take over the country. El Salvador could still sell bonds, that will do well if based in Bitcoin, call on allies, etc.

the Fiat countries may have a lead advantage but will destroy themselves while the hard money country will survive longer. The citizens would become so poor that they won’t be able to eat, much less fight. Likely El Salvador would be so much financially stronger, other countries couldn’t print enough to keep up.

Think of Venezuela or Argentina attacking anyone.

That is just a guess. Another guess is El Salvador would be so financially strong, allies wouldn’t let that invasion happen.

nostr.build 2y ago

Ideally all countries move to the bitcoin standard.

In your mentioned case, if the country is strong enough providing an obvious threat, yes, the agreements would be made, bonds and Bitcoin would be sold, money could be borrowed from allies if needed, and the Bitcoin standard country could go to war.

Although printing money may seem like infinite resources at first, it will soon cause an economic burden on that country, hyperinflation, poverty, low quality goods, and the country would ultimately cause its own demise.

The hard money country could have equal resources, they would just have to manage the funding differently.

That is just a hypothetical scenario, it would depend on a lot of other factors..