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53 sats \ 4 replies \ @siggy47 OP 13h \ parent \ on: Paolo Ardoino On Why Tether Is Necessary bitcoin
I don't know. Strengthening and consolidating the most powerful fiat currency to kill it? It sounds like a long way to go to justify a strictly NGU mindset.
You strengthen the most powerful fiat to kill all the other fiats.
What do you think happens after all the global fiats but one are dead? Do you really think China is going to just use Tethers?
They'll use the free-floating currency, Bitcoin.
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It's a theory I haven't given much thought to, probably because it seems illogical on its face to me. I'll think about it. Let me ask you- do you therefore embrace the whole Saylor/etf thing to get to this end, regardless of your commitment to self custody?
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It's unintuitive because other fiats more fictional than the dollar and the processes is therefore non-linear
The dollar is less of a fugazi than others because the world's debt is denominated in it, making it the world reserve while other fiats are basically vanity tokens
Now project out to a world where Bitcoin is the world reserve currency, what had to happen between the former and latter state?
Fiats would fall like dominoes, not all in one-shot, so it stands to reason there would always be a "last" fiat. Obviously the last fiat would be the strongest, thus dollarization is expediting us to that state.
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