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Bitcoin is not a competing fiat currency, but a competing gold standard.
by kayamon 5y ago
Bitcoin is not a competing fiat currency, but a competing gold standard.
- david927 5y agoThat's exactly what I'm saying. It would be seen as a competing currency, like gold, and prohibited. Michael Burry tweeted this earlier this year, "Prepare for inflation. Re-opening & stimulus on the way. Pre-COVID it took $3 debt to create $1 GDP, and it is worse now. In an inflationary crisis, governments will move to squash competitors in the currency arena. $BTC #gold."
- kayamon 5y agoAh yes my mistake. The only question I guess is are we yet at the tipping point where Bitcoin reaches runaway adoption or not.