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Maybe I shouldn't have said BTC and that's confusing. Let's say "tamper-proof pips" wink wink. The global BTC currency is irrelevant to this use-case which is
by politician 13y ago
Maybe I shouldn't have said BTC and that's confusing. Let's say "tamper-proof pips" wink wink.
The global BTC currency is irrelevant to this use-case which is to provide a local people group with a currency option that cannot be manipulated by the same people that screwed up their original currency option but which is calibrated to the economic output of the local people group (e.g. it's not too expensive relative to the per-capita GDP of local Argentinians).
It doesn't matter that BTC exists globally, or at all. The reason I even mentioned or suggested BTC was because (a) it exists, (b) it has certain properties that make it good at avoiding manipulation, (c) that it can be repurposed.
If you replaced Bitcoin's genesis block with a new one, and got a bunch of people to agree that this was for valuation wrt a particular economy (e.g. because Argentinian BTC miners mine on the chain beginning with this block, and few people in the global community do because there isn't an incentive for them to), then what would happen is that the value of that entirely different and distinct economy ought to come to represent the value gained by that group of miners. Who, hopefully, are in Argentina and who trade with other Argentinians. Does that make sense?