I'm really unclear on how these "bitcoiners" think hyperbitcoinization would play out. Evidently they envisioned a scenario in which bitcoin gets to 10M per coin but wall street and gov somehow stayed away?
His points are not even that cogent. Saying that a bitcoin reserve would hurt the dollar is a bit like saying "the dollar was weaker when it was backed by gold".
Moreover, there is very little discussion in the SBR talks about what a monumental shift away from "Fed Power" this is....having the US Treasury hold BTC directly sidelines the Fed, which everyone should be for.
There is no reason we need a private 3rd party agency to issue currency. The US Treasury is suppose to do that job constitutionally.
I'm really unclear on how these "bitcoiners" think hyperbitcoinization would play out. Evidently they envisioned a scenario in which bitcoin gets to 10M per coin but wall street and gov somehow stayed away?
His points are not even that cogent. Saying that a bitcoin reserve would hurt the dollar is a bit like saying "the dollar was weaker when it was backed by gold".
Moreover, there is very little discussion in the SBR talks about what a monumental shift away from "Fed Power" this is....having the US Treasury hold BTC directly sidelines the Fed, which everyone should be for.
There is no reason we need a private 3rd party agency to issue currency. The US Treasury is suppose to do that job constitutionally.