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What do you imagine the US could do with its weapons cache to demand global compliance? Even extremely authoritarian governments that have tried to stamp out cr
by ericd 3y ago
What do you imagine the US could do with its weapons cache to demand global compliance? Even extremely authoritarian governments that have tried to stamp out crypto usage internally have been unsuccessful, so it's not like the USG could just lean on other governments to demand compliance.
- pyvpx 3y agoany sovereign state or multinational needs to deal in dollars. and the USG controls that rail. well. call me when you can trade and refine oil purely in bitcoin. no one accepting bitcoin to buy things is holding that bitcoin. I beg every blockchain as money people to please, please obsess over monetary theory first!!
- ericd 3y agoI don't think the person you were replying to was saying that it was going to take over as the primary reserve currency, do you? So the US controls those international settlement rails, what does it do with that power to control BTC? Like I said, they can lean on governments, but those governments don't really have the power to ban it internally, so what can it really do with that leverage?