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This is great analogy, except the "inside" of bitcoin is constantly growing bigger and assimilating more real world realms. It now includes the entire country o
by anonporridge 5y ago
This is great analogy, except the "inside" of bitcoin is constantly growing bigger and assimilating more real world realms. It now includes the entire country of El Salvador.
The real magic happens when a nation state starts selling it's exports priced in bitcoin instead of dollars. In fact, Putin was recently asked about exactly this for Russia. He dismissed it as "too early to talk about the trade of energy resources in crypto", but my takeaway from that statement, is that the door is absolutely open. [0]
Then again, wanting to sell oil for something other than dollars is probably why the US killed both Saddam Hussein (wanted Euros) and Muammar Gaddafi (wanted gold backed African currency), so we'll see if the US still has enough proof of violence (PoV) to maintain security of the dollar as the global reserve currency.
I don't know what I'm talking about either, so this is just my 2 sats.
[0] - https://www.cnbc.com/2021/10/14/russias-putin-says-crypto-has-value-but-maybe-not-for-trading-oil.html https://www.cnbc.com/2021/10/14/russias-putin-says-crypto-ha...
- pkaye 5y ago> probably why the US killed both Saddam Hussein (wanted Euros) and Muammar Gaddafi (wanted gold backed African currency)... As far as I understand the Libya military intervention was a NATO mission and the French and British were early proponents of intervention before the US. https://en.wikipedia.org/wiki/2011_military_intervention_in_Libya https://en.wikipedia.org/wiki/2011_military_intervention_in_...
- totetsu 5y agoWe came, we saw, he died