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The bigger irony will be when the US Government steps in and seizes all BTC & ETH within their reach so that they can create their very own crypto-backed centra
by beambot 3y ago
The bigger irony will be when the US Government steps in and seizes all BTC & ETH within their reach so that they can create their very own crypto-backed central bank digital currency (CBDC) as the new "gold standard" a la Executive Order 6102 in 1933:
https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102
Incidentally: When you look at currencies (and governments) on long enough time scales, you'll see that they're pretty ephemeral -- e.g. very few currencies or governments around today were around in (roughly) the same form 200 years ago. I consider it a benefit that we might have a way of persisting wealth that doesn't involve rent extraction or digging shiny metal out of the ground -- though I admit to not being a fan of the "wastefulness" of PoW in the midst of energy decarbonization.
If you want a fun watch: The History of Paper Money on Youtube is a fascinating look at how currencies, banks, central banks, and fiat money all came into existence. TLDR: Our "modern" approach to money was a giant "too big to fail" ponzi scheme largely perpetrated (multiple times) by John Law. Wild.
https://www.youtube.com/watch?v=-nZkP2b-4vo https://www.youtube.com/watch?v=-nZkP2b-4vo
- david_shi 3y agoIf they try to pull this off, human civilization will have entered full 1984 territory