SeekerErebus on Nostr: A best case path by which US gov could overcome their debt: 1. Buy as much bitcoin as ...
A best case path by which US gov could overcome their debt:
1. Buy as much bitcoin as they can get their hands on.
2. Mark the dollar value of all of the bitcoin they hold at equal to 110% their total outstanding debt + interest.
3. Officially default, and use their bitcoin holdings instead of dollars to pay off all treasury bonds.
We get the same massive upheaval in the economy we're gonna get anyway, but we also get a rapid widespread distribution of bitcoin comparable to the current dollar distribution. There's also an incredibly simple direct translation of value between dollars and bitcoin to the layperson. The value calculation would be off by some order of magnitude, but it would be as smooth a transition to hyperbitcoinization as possible.
1. Buy as much bitcoin as they can get their hands on.
2. Mark the dollar value of all of the bitcoin they hold at equal to 110% their total outstanding debt + interest.
3. Officially default, and use their bitcoin holdings instead of dollars to pay off all treasury bonds.
We get the same massive upheaval in the economy we're gonna get anyway, but we also get a rapid widespread distribution of bitcoin comparable to the current dollar distribution. There's also an incredibly simple direct translation of value between dollars and bitcoin to the layperson. The value calculation would be off by some order of magnitude, but it would be as smooth a transition to hyperbitcoinization as possible.