8R0ck3feller @8r0ck3feller - 3d
I disagree, I think the concept of dollars acting as a mechanism of short-term, local settlement is likely. And whether we choose to stack Bitcoin or not stack Bitcoin, the day of reckoning for US Treasuries is fast approaching. Americans would be better off with Bitcoin as a part of their government institutions (and the inevitable efficiencies bitcoin would impose on them) vs. continued deficit spending until there are no credit worthy buyers of our debt. When I first discovered Bitcoin, one of the things I wrestled with is that the transition to a bitcoin standard will be tumultuous. It might be even be violent as lives are turned upside down. But that is a criticism of the last 70 years of monetary policy…and the last 70 years of monetary policy is to blame. The best thing the United States of America can do is to try to ensure the largest number of Bitcoin are held within its geographic borders … and then see how the capital reallocates on a bitcoin standard.
