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If Bitcoin were to be adopted as a global reserve currency," he speculates, "the Bitcoin price will probably be in the millions, and those miners will have more
by neither_color 6y ago
If Bitcoin were to be adopted as a global reserve currency," he speculates, "the Bitcoin price will probably be in the millions, and those miners will have more money than the entire [US] Federal budget to spend on electricity.
If you spent the entire US federal budget on a global reserve currency that worked without a military that's a net positive for humanity though, isn't it?
- robjan 6y agoCryptocurrencies will not remove the need for a military. Anything that can be bought by a Bitcoin can also be "bought" by force, often more effectively. As an example, how could bitcoin being the reserve currency fix the South China Sea dispute? There are still multiple countries who want the islands.