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0 sats \ 2 replies \ @Solomonsatoshi 14h \ parent \ on: Our Economy Has Never Needed an "Elastic" Currency econ
MoE dominance is where Fiat gains its power.
Think about SWIFT for example.
Or the citizens of any nation who must use the currency ordained by their government.
SoV is provided by many speculative assets of which Bitcoin is but one. Bitcoin being held as a SoV is not in real competition with fiat money as long as it is not used as a MoE.
70% of the world has banned MoE use of Bitcoin- nearly all of the remaining 30% has taxed its use a sa speculative commodity making MoE use impracticable due to the onerous tax recording and payment obligations that result.
Legal MoE use of Bitcoin has been banned or highly obstructed in virtually all nations so slyly you apparently didn't notice!
SWIFT is not an MoE use case, it's remittances and Bitcoin can and does compete with that already.
I brought up SoV, because that's what will lead to the hyperinflation and ultimately destruction of fiat.
Fiat printing doesn't work when there is no incentive to hold fiat.
Bitcoin will become more of an MoE when people start asking to be paid in BTC (i.e. when Thiers' law kicks in). By that time, the state will be so weak, taxing imaginary "capital gains" will be unenforceable.
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SWIFT is absolutely a MoE use case- it gives the US arguably more cost effective power and leverage than direct military.
If you do not hold USD in your central bank you cannot access SWIFT and cannot make trade payments to the majority of global markets.
Use of BTC for MoE is outright banned in 70% of the global markets.
SWIFT is absolutely demonstrative of the power of MoE dominance...even though Chinas alternatives CIPS and mBridge are increasingly providing an alternative.
Bitcoin is not being used for any significant trade payments...it is increasingly confined to use as a speculative commodity.
Many speculative commodities have, can and do run alongside fiat with no real problem for fiat as long as they are not being used for MoE to any significant extent.
You seem unable to understand the extent to which BTC MoE has been slyly but successfully obstructed if not outright banned, globally. The fiat powers are jealously guarding and preserving their hegemony...hegemony which is based upon MoE dominance if not monopoly.
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