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Yeah. The whole world just can’t wait to trust the Chinese Communist Party to have control of their currency, and the legal system in the PRC to adjudicate their disputes in regards to it.

0xMisterWolf 2y ago

Tsk. Tsk. Tsk. No one said anything about the CCP controlling their currency. Again, you’re thinking una very binary way. The world is grey, not black or white.

China’s economy is massive, and if Russia, Saudi Arabia, etc. decide to join in the non-legacy finance… all of a sudden there is a real world use case for Bitcoin.

This isn’t about anyone controlling anything - you know, as well as everyone else, that no one country will ever control Bitcoin.

If world economies, regardless of their - or your - political belief systems begin to use Bitcoin it facilitates the US’s control over currency.

This moves into Europe via UAE or The Kingdom. Australia gets involved with China; etc.

We’d be lucky if those economies adopted BTC as a store of ANYTHING.

Think it through, mate.

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Discussion

Mike Brock 2y ago

I think about this stuff all the time, and very carefully. The world does not work in these narrow economic ways. Culture and politics play outsized roles.

⚡️🌱🌙 2y ago

The world is never going to suddenly switch to an embryonic system, as bitcoin currently is.

They will always bail out the existing system, until Bitcoin is bigger than local currencies.

That means a lot of building, lots of on/off ramps, lots of users and a decade+ proof of use.

Bitcoin needs to figure out things like open source lending books, open source limit order books, plus liquidity and monetary velocity.

I think 2 generations is a sober time frame.

0xMisterWolf 2y ago

I’d say 1 generation, but this isn’t my strong suit, either.

Bitcoin does need a massive amount of work to get to the point where it’s a realistic option.

I was simply saying that geography or cultural differences don’t matter on on-chain economics. If a huge chunk of the global economy supports a BTC store of value or - dare I say, standard - that precipitates the fall of the dollar as the crutch or finance.

I’m excited to see what happens.

0xMisterWolf 2y ago

The point isn’t politics or culture. If massive chunks of the global economy begin to move towards Bitcoin, that’s a net positive for our goal, and will facilitate the dollar squeeze.

I’m not at all saying that it will happen in one fell swoop; but I can assure you culturally it makes no difference.

Mike Brock 2y ago

I was talking in regards to your comments about the BRICs.