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13 sats \ 4 replies \ @Car 6 May \ on: Trust Me, Bro: The Dollar Really Is Dying (The Economist, Kenneth Rogoff) econ
I think USD as we know it now will collapse, sooner rather than later, two decades seems unlikely. Bitcoin is already acting as a parallel monetary system. While not forcibly replacing the dollar, it’s at least an “exit ramp.” It’s becoming increasingly more clearer now for some. Individuals are choosing into a new unit of account, 1sat=1sat. Bitcoin lets you opt in now—at whatever exchange rate the market says. Satoshi was a genius for having the foresight to seeing how this could play out. Never been more bullish.
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7 sats \ 3 replies \ @denlillaapan OP 6 May
Car brings the thuuuunder. What a rallying cry <3
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0 sats \ 2 replies \ @Solomonsatoshi 6 May
Lets all IGNORE the largest trading economy that all nations must now trade with or suffer significant economic disadvantage. Its not USA. China has already built the digital trade payments protocol to replace SWIFT. Trump has already threatened BRICS that if they use it they will be sanctioned. Trump is a joke- a clown, an Emperor with no clothes, increasingly his threats are ignored by those they are hurled at.
USA cannot survive 6 months without Chinese supply chains. Everyone knows this.
Much as Bitcoin may be an exit/safe haven it is not going to be used for trade payments between major power blocs. Bitcoin has already been 90% KYCed, taxed, tracked and traced and defined as a speculative commodity plaything- not a p2p payments protocol. In practical terms almost everyone using it as a MoE even in 'liberal western democracies' is breaking the law by failing to report each and every zap and account for capital gains! Bitcoin has already been outfoxed by the sly legacy fiat operators. They preserve their MoE hegemony with cunning and determination- so much so you do not even see it! The nation states will keep the power of MoE to themselves. Don't mention mBridge, its not the done thing in hopium drenched Libertarians circle jerking silos...
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0 sats \ 1 reply \ @Car 6 May
you sound like a statist, good luck with holding usd till the collapse
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0 sats \ 0 replies \ @Solomonsatoshi 6 May
lol I do not hold any USD. Not one dime. Most of my liquid savings are in sats. But I simply recognise the very sly way the fiat operators have very successfully obstructed Bitcoin MoE use. I dont like it, but I do recognise it. Do you? Most Bitcoiners seem to argue its just a passing phase- I do not see why the fiat operators would obstruct Bitcoin so cleverly to then remove such obstruction...knowing MoE hegemony is the basis of their monetary power.
Speculative commodity playthings, in contrast come and go and do not directly threaten fiat hegemony. Bitcoin has become a KYCed, taxed, and tracked and traced plaything for ETF funds and corporate Treasuries- as such it is not a threat to fiat operators.
The only way this comprehensive obstruction might be removed would be if removal was demanded very loudly but as most Bitcoiners repeatedly deny there is any obstruction that's very unlikely!
BTW as far as the state goes, yes the nation state is a major factor in the wealth of nations- I have yet to see anyone enjoy wealth and security without the protection and security of the nation state being a major factor. To deny the major role government plays in the economy seems odd and misguided.
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