MachuPikacchu on Nostr: Scenario: US shifts policies towards bitcoin and encourages adoption. It waits long ...
Scenario: US shifts policies towards bitcoin and encourages adoption. It waits long enough for most of the market to pile in and drive up prices organically. Once everyone is onboarded the federal reserve and treasury department unleash the money printer and pumps the bags of the US economy. In the process it prints enough to reduce debt to GDP to more sustainable levels.
Sounds good? I don’t think so. If other countries don’t adopt a similar playbook in time then it becomes the single biggest transfer of wealth in history away from the rest of the world. It feels like this is the path we’re on.
In the process it pumps the bags of dictators who control the Bitcoin infrastructure and holdings for their country further strengthening their relative position of power domestically. Maybe that imbalance will destabilize those regimes? Maybe it funds all of their tyrannical operations?
It’s hard to see a better alternative either. Governments are all in debt beyond what they can repay and this seems like their only option aside from default or war.
Sounds good? I don’t think so. If other countries don’t adopt a similar playbook in time then it becomes the single biggest transfer of wealth in history away from the rest of the world. It feels like this is the path we’re on.
In the process it pumps the bags of dictators who control the Bitcoin infrastructure and holdings for their country further strengthening their relative position of power domestically. Maybe that imbalance will destabilize those regimes? Maybe it funds all of their tyrannical operations?
It’s hard to see a better alternative either. Governments are all in debt beyond what they can repay and this seems like their only option aside from default or war.