actually... El Salvador forces people to use bitcoin, in that their legal tender laws require all major businesses to accept it.
Discussion
In my country cash is also legal tender - I’m sure there are ways around it should one not wanna accept it.. onchain would be silly for Bukele to expect all businesses to accept. Surely L2s are there for that? Sorry for my ignorance..
Would a Bitcoin Strategic reserve be more bullish than if Trump made BTC legal tender?
There is a 0% chance Bitcoin will be legal tender in the US anytime soon, if ever. Legal tender laws mean there is no tax on the asset and make it legally "money" requiring all businesses to accept it.
Also Trump cannot make Bitcoin legal tender, it would require congress to do it. Not going to happen.
I have no clue how the Us politics work - it’s more complicated than understanding the Solana ecosystem or meme coins 🤣🤣
I just know it’s a cluster &$&$ whatever is happening there..
Understanding Solana is quite simple. It's a proof of stake shitcoin, the end. It's a scam. Proof of stake is not new or novel. The Federal Reserve Banking cartel is a proof of stake system. Save yourself some time and study Bitcoin, not some shitcoin garbage.
Haha I was using a silly example.. I’ve been studying BTC for awhile.. I’m pretty deep in the rabbit hole.. Study BTC everyday any spare time that I get. If you are American - do you think a Trillion dollar print is coming?
The US has no choice but to print massively in 2025. So yes, the print is coming this year there is no doubt. There are only 3 possible paths in theory:
1. default
2. cut social security and military spending
3. print
Defaulting on the debt is not going to happen because it would immediately remove US treasuries as the principal capital asset globally. No one in a position of control in congress or the treasury or the federal reserve would be willing to preside over a US default on treasuries.
It's politically impossible to cut social security and military spending. Political suicide for anyone who even brought it up as a possibility.
So that leaves us with option 3, debase the currency. It's effectively a default, but it's a slow motion default, which is much more palatable politically and it buys more time for those in power.
So yeah... the print is coming. There might be a giant crash first, or another "pandemic", or someone might set off a Nuke in the Middle East or Eastern Europe... they like to create a massive problem before they turn on the money printer. But one way or another, yes it's coming in 2025.
Ok, this is very insightful. Thank you for the response. Tried to ZAP you but it didn’t work. Any idea of dollar value print that’ll be needed? Make 2008/2020 look like child’s play?
I have no idea but yes it'll be more than ever before. That's the nature of compounding interest.
i do not accept zaps, although thank you for the thought. Transmitting Bitcoin can be considered a violation of AML laws and people have gone to prison for p2p bitcoin transactions. Would they come after me for a 25 satoshi zap? Probably not, but why take a chance for 25 satoshis? I love the fact that people are using Bitcoin for micropayments on social media, it's great and I hope it continues. But you won't see me doing it.
I would only transact in Bitcoin in an emergency.
Fair enough - So you say that ZAPS are considered a violation of AML laws? Could you explain the difference between that and a gift on YT or sending an OF girl money? (Disclaimer I am using it as an example)
There is no difference.
Very informative..
Stupid question then.. p2p - is that illegal?
if you get prosecuted and convicted of operating without a money transmitter's license, then yes it is. Ask Theresa Lynn Tetley about it.