Even the Bloomberg Boys will figure it out.
It might not replace currencies, but it sure is better than bonds.
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0 sats \ 5 replies \ @Solomonsatoshi 9 Apr
Bitcoin certainly is and will be an increasingly important neutral safe haven asset and form of liquidity as the contest for global monetary hegemony between US and China heats up.
China has made no secret of its intention to build alternatives to the USD/SWIFT system.
mBridge is now close to if not already operational.
Chinas CBDC appears to be the most advanced CBDC implementation anywhere - and mBridge builds on that to enable cross border trade payments between China and correspondent nations CBDCs- Correspondent nations would need their CBDC to be compatible with Chinas- China sets the institutional and protocol basis for post industrial trade.
But China has a way to go before it can attract the trust and dependency on its monetary offerings that the US legacy system has.
Currently it appears to enable trade payments for Russia, N.Korea and Iran- how this is done is not transparent but probably via a shadow banking system and with some involvement of Hong Kong banks. The HSBC has hundreds of CCP members on its staff.
Bitcoin is a proven secure and operational monetary alternative which will appeal to both refugees from a crumbling USD and those reluctant to come under Chinese dominion.
In the medium term Bitcoin and gold seem likely to be in high demand.
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7 sats \ 4 replies \ @028559d218 OP 9 Apr
The "west" (a very overgeneralized term imo) will never use mBridge.
I'm not saying the chinese won't use it (plus iran and russia sometimes) but the West will never use it.
The protocol must be decentralized, unable to be controlled by one central party, the Bitcoin on it secure, the network reasonably transparent, and the market Big and Liquid.
Bitcoin is by far absolutely the best candidate. The world in my opinion won't want to return to a centrally-controlled global asset after what has happened to the United States.
In my opinion -
Gold doesn't compare. Say you have a lot of it (like a billion $ worth) and you want to sell it... how do you move it? Where do you store it? Can you trust your shipping partner? Will it be secure? Can it be moved and settled in an hour or so across the ocean? Is it easy to move and quick to transfer like Bitcoin?
No? Then Bitcoin wins. It's good enough.
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0 sats \ 3 replies \ @Solomonsatoshi 9 Apr
I am not so sure about Europe.
If Trump continues to alienate and abandon Europe as he appears to be doing.
Europe is already gaining more from trade with China than it does from the US.
Culturally Europe would not seem a natural monetary ally to China but in economic terms if they had to choose between the US and China the advantage would be with China.
Additional to this, Europe seems determined to implement a CBDC in the near future- the advantages from a fiat central bankers mindset are considerable and if China has already developed the protocol that enables international payments via CBDCs, which many other countries (starting with BRICS) also adopt, while the US has not, then what are they going to do?
Europe also seems fairly hostile to Bitcoin.
Chinas goal is to build the protocols and tertiary infrastructure of global trade and governance in the 21st century.
The US is not building them and China is now the dominant productive economy.
Agree Bitcoin is the ideal candidate from a theoretical perspective but do not understand the factor of nation states projecting their power to dominate others.
China with its highly centralised poliburo and philosophy seems unlikely to embrace Bitcoin for trade payments, and while Europe might, it seems unlikely because they are also very attached to their centralised fiat monetary issuance, leverage and privilege, which Bitcoin undermines.
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7 sats \ 2 replies \ @028559d218 OP 9 Apr
I don't think that the Chinese will necessarily "embrace" Bitcoin. But wow the miners in China sure manufacture a lot of it, in addition to manufacturing a lot of ASICs.
I don't believe (although of course I don't know) that the EU will actually use a Chinese CBDC-system. I am highly doubtful. They will trade with the Chinese more and more perhaps (this makes sense)... but 'connect' their CBDC to the Chinese transactional systems? Really?
No way.
And the EU isn't exactly one block, they disagree on things all the time.
If US bonds aren't the neutral safe haven they once were, we need a neutral liquid digital safe haven for exchange and economic hedging and Bitcoin is the only really neutral candidate that isn't restricted to only one country.
Who knows it may never work out the future is unknown... but compared to everything else I believe that Bitcoin is better and is perfect product/market fit.
https://www.bloomberg.com/news/live-blog/2025-04-08/trump-tariffs-stock-market-updates?cursorId=67F61FDCB21C0000
in my opinion it's Bitcoin dude
https://www.bloomberg.com/news/articles/2025-04-09/haven-assets-are-faltering-just-when-world-needs-them-the-most?utm_source=website&utm_medium=share&utm_campaign=copy
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0 sats \ 1 reply \ @Solomonsatoshi 9 Apr
Bitcoin certainly does provide a viable, proven and neutral alternative to Chinese CBDC protocols.
I hope it is adopted widely enough to be viable despite Chinas dominance of global trade.
A multi-polar world seems increasingly likely and Bitcoin could be increasingly useful and adopted in such a world.
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0 sats \ 0 replies \ @028559d218 OP 9 Apr
100% agree
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