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What he's comparing to Bitcoin is not EVERY SINGLE USE of the USD, but the actual USD network (the Fed and it's member banks) and it's security component (the U
by rufusroflpunch 4y ago
What he's comparing to Bitcoin is not EVERY SINGLE USE of the USD, but the actual USD network (the Fed and it's member banks) and it's security component (the US military, which is the ultimate enforcer of dollar hegemony).
This is comparable to the Bitcoin nodes and the miners.
- colinmhayes 4y agoExcept bitcoin can't even come close to handling the number of transactions that occur in USD.
- rufusroflpunch 4y agoBitcoin is more comparable to FedWire which has very similar throughput. In a Bitcoin world, it would just be the base layer.
- actionfromafar 4y agoSo it would be much the same as the fiat world for the average person. Just new masters.