Dr. Jeff on Nostr: The dollar (or any fiat currency) could never be pegged to #Bitcoin. Even if a ...
The dollar (or any fiat currency) could never be pegged to #Bitcoin.
Even if a government was dumb enough to attempt it, the peg would quickly break.
Numerous fiat currencies tried--and failed--to stay pegged to #gold... which is only a stable store of value!
#Bitcoin is an appreciating store of value and is therefore incompatible with a fiat peg, as fiat is always and everywhere a depreciating store of value over time.
Even if a government was dumb enough to attempt it, the peg would quickly break.
Numerous fiat currencies tried--and failed--to stay pegged to #gold... which is only a stable store of value!
#Bitcoin is an appreciating store of value and is therefore incompatible with a fiat peg, as fiat is always and everywhere a depreciating store of value over time.