MONETARY PRISONER'S DILEMMA: BITCOIN AND NATION-STATES

A monetary prisoner’s dilemma explores four distinct scenarios:

1) Every nation-state buys Bitcoin.

First come, first served. Demand from nation-states pushes the price higher, accelerating transition to the Bitcoin Standard. Early adopters accumulate more at lower prices, while laggards are left to accumulate less at higher prices. International trade increasingly settles in neutral reserve assets like Bitcoin or gold. Countries will either accumulate significant amounts of Bitcoin cheaply or need to generate it through a trade surplus.

2 and 3) Some nation-states buy Bitcoin, while others do not.

Countries that purchased Bitcoin use it for trade settlement with one another, while non-adopting countries continue moving away from USD settlement towards gold. Countries using Bitcoin for trade settlement become more competitive and prosperous due to:

1. The devaluation of gold caused by new supplies of both physical and paper gold entering the market.

2. The high costs associated with transporting and verifying physical gold (e.g., melting and recasting).

4) No nation-state buys Bitcoin.

(purely theoretical: Bhutan is already mining Bitcoin, and El Salvador is both buying and mining it.)

Individuals, businesses, and funds continue accumulating new supply, driving adoption forward without government involvement. As an increasing amount of wealth secured in Bitcoin (which cannot be debased), money printing becomes ever more difficult and eventually impossible. Without money printing, twin deficits (trade and budget deficits) can no longer be financed, leading to a significant reduction in government size worldwide. This shrinkage of government is a welcome change for a large portion of citizens.

Genuine question: Which scenario do you prefer, and why?

MONETARY PRISONER'S DILEMMA: BITCOIN AND NATION-STATES

A monetary prisoner’s dilemma explores four distinct scenarios:

1) Every nation-state buys Bitcoin.

First come, first served. Demand from nation-states pushes the price higher, accelerating transition to the Bitcoin Standard. Early adopters accumulate more at lower prices, while laggards are left to accumulate less at higher prices. International trade increasingly settles in neutral reserve assets like Bitcoin or gold. Countries will either accumulate significant amounts of Bitcoin cheaply or need to generate it through a trade surplus.

2 and 3) Some nation-states buy Bitcoin, while others do not.

Countries that purchased Bitcoin use it for trade settlement with one another, while non-adopting countries continue moving away from USD settlement towards gold. Countries using Bitcoin for trade settlement become more competitive and prosperous due to:

1. The devaluation of gold caused by new supplies of both physical and paper gold entering the market.

2. The high costs associated with transporting and verifying physical gold (e.g., melting and recasting).

4) No nation-state buys Bitcoin.

(purely theoretical: Bhutan is already mining Bitcoin, and El Salvador is both buying and mining it.)

Individuals, businesses, and funds continue accumulating new supply, driving adoption forward without government involvement. As an increasing amount of wealth secured in Bitcoin (which cannot be debased), money printing becomes ever more difficult and eventually impossible. Without money printing, twin deficits (trade and budget deficits) can no longer be financed, leading to a significant reduction in government size worldwide. This shrinkage of government is a welcome change for a large portion of citizens.

Genuine question: Which scenario do you prefer, and why?

Bitcoin Hanoi #2 is coming soon!

When: Wed., 8th of Jan 2025, 7:00pm.

Where: DM for location

Who: all Bitcoiners / Bitcoin curious / friends

PS. shitcoiners & scammers⛔️

PPS.Everyone gets 🧧 from our dear friends nostr:npub13ek3cargj3wtuduut5y0jkdlqkmvxmrvzzex96krzejjj580t9ashr4946

https://m.primal.net/NMRy.webp

In 2024 I was mostly interacting with these payment networks:

1. Revolut – account blocked for already 7 days pending “account verification” “for my own safety”. No explanation, extra KYC request or ETA when this will be resolved. 2 600 EUR blocked or lost.

2. PayPal – employees tried to scam me for 4 000 EUR, after discussing this with my lawyer, I told them to f*ck off. They closed my account.

3. Dutch bank – open a file and put me on some shit list, but still works well (only in the Netherlands tho).

How do people put up with this? And not lose their minds?

Fortunately, there is also Bitcoin & Lightning Network:

So I wanted to buy Primal Premium and realized that I literally cannot do it.

1) My bank account is blocked and unclear when/if will be unblocked,

2) PayPal basically rugged me, I dont have access to it (nor I want to),

3) Bitcoin not accepted.

Why, once again, garbage fiat payment rails are prioritized to Bitcoin?

Aren't we here just because centralized stuff is seizing up?

nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z

Now many people cannot afford to have a family and live a decent life, but they think it's okay, because the government will take care of them when they are old.

A time will come when it will be obvious how naive this thinking was. Some people will get some very brutal wake up calls.

There will be a generation, which will not be able to retire.

nostr:note1m4q8er8lnyfr99rm7le9lezgrenf2e4w0f4uxxg92j7yngak0lms82f43u

Ha Noi is on board 🫡

Wygląda super Gracjan!

I am launching a Bitcoin Hanoi Meetup. Come over to talk about Bitcoin and economics if you're around 🦝

nostr:note18047ugdhgw6ww589nj6cw49dpflxyhceayuk68gyvjv0yyzlnrtqw6n5ad

This is exactly correct! Being mindful of our wording is critical - saying "altcoin" is a form of endorsement for shitcoins.

nostr:note1jd4uasqfsw8fmhp2j94gqxf5j3hctrhflyq2el5jsty2wdtk7req9aa5dk

What is the Bitcoiner's "go to" VPN?

Hello world!