It would mean hyperinflation which will have massive tail effects. Starvation, civil unrest, mass unemployment..
Is this *it*
The Fed’s credibility is declining. Every misstep makes it harder to impose CBDCs.
Soon it will wreak of capitulation.
Agreed this will be their only defence
Regional bank runs are happening as depositors pull funds to mega banks that are guaranteed by the Fed as too big to fail.
What happens when mega bank runs go to self custodied Bitcoin?
The money printer gets stuck on to keep remaining depositors whole. Fiat death spiral.
PV 🟠🟣🙏
Does anyone know if there is a Bitcoin price that could pull $Corzq out bankruptcy?
I believe they are still the largest public miner by hashrate?
Would be wild.
No way. He is waiting for the right time. Could even argue Doge is a smokescreen because nobody is pricing him in for BTC, assuming he’d pump Doge. 👀
I think if Elon started pounding the table on Bitcoin right now we’d have bankruns and shit would hit the fan.
If you’re reading this elon…
There is no such thing as fiat capitalism.
Communism is when all property is owned by the state. Central banks have infinite capital and the ability to dilute infinitely.
Therefore they essentially have all of the property and distribute it as they see fit.
Communist.
I am once again suggesting you take some time to learn about Bitcoin.
Stop writing this off as a scam. It is absolutely not a scam. It is a solution, in fact it is THE solution to a fundamentally criminal money system that you have purposely never been taught about.
Don’t wait.
This is why I still have Twitter I guess.
I agree. Maybe some type of social consensus for accounts. Maybe even a “vouch for” model. Where trusted accounts can vouch for new or smaller accounts to add credibility? Just spitballing
I agree. If everyone is using one bank with several large banks acting as sort of fed-brokerages, then there can be no bank runs. That’s one of the sales-pitches for the dystopian nightmare.
Of course, there will be one bank, one money. The question again is:
Is it controlled by a centralized criminal organization, or is it decentralized?
Who had the most incentive to stoke bank runs on regional banks?
The largest banks, not depositors. They seen massive deposit inflows.
Central bank interference in the market will inevitably lead to more centralization.
The “debate” between Bitcoin and the USD is not complex. It is binary.
Centralized, or decentralized.
I agree our identity is still ours. I was thinking more of my ability to know what Leo thinks because I have a verified source for interacting with you.
Getting information directly from the source is going to be much more important going forward.
Bitcoiners know that individuals are easily corruptible, and yet they have faith in humanity as a whole.
Verified identities on social media platforms will be a fundamental requirement as AI progresses into deep fakes and mimicry.
Private keys give you control over your digital identity and how much of yourself you’d like to share. I suspect government will try to impose something similar.
But, not your keys, not your identity.
🤙’s are fiat in some ways. Costless tokens. But I get why we use them if they’re there. I use them too.
I like the idea of replacing 🤙’s with zaps, starting at 1 sat would even be fine. A content economy would be very cool.