modalplex on Nostr: you have omitted some of game theory. States and Companies will deal across border ...
you have omitted some of game theory. States and Companies will deal across border with each other in the currency that the seller will accept.
Sellers have the power. And in cross border situations there is little any central bank can do about it.
It has already happened to Russia. Many of its big companies now pay in Yuan for goods from China, and now take loans in Yuan too. The Rubel (@ 16% interest) is something only the Russian citizens use, to their determent.
When Bitcoin is worth more international trade will drive central banks to hold it. Aware citizens will cash out of their government scams, vis-à-vis Argentinaians into USD.
Sellers have the power. And in cross border situations there is little any central bank can do about it.
It has already happened to Russia. Many of its big companies now pay in Yuan for goods from China, and now take loans in Yuan too. The Rubel (@ 16% interest) is something only the Russian citizens use, to their determent.
When Bitcoin is worth more international trade will drive central banks to hold it. Aware citizens will cash out of their government scams, vis-à-vis Argentinaians into USD.