epsql -- 253d I'm not sure I fully understand your argument to be honest, especially as it translates to the current conditions. Are you saying that individuals should hold a variety of currencies, both traditional hard monies and cryptos other than Bitcoin, because if everyone converged to holding Bitcoin only then it would be easier for authorities to fight it? I can see how it could be more desirable for authorities to target Bitcoin if no alternatives existed, but I don't see how it could be easier. How would they go about removing the 21M cap for example? replyI'm not sure I fully understand your argument to be honest, especially as it translates to the current conditions. Are you saying that individuals should hold a variety of currencies, both traditional hard monies and cryptos other than Bitcoin, because if everyone converged to holding Bitcoin only then it would be easier for authorities to fight it? I can see how it could be more desirable for authorities to target Bitcoin if no alternatives existed, but I don't see how it could be easier. How would they go about removing the 21M cap for example?
thread · root 819e8a74…91eb · depth 4 · · selected 601dc19b…29d2
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root 819e8a74…91eb · depth 4 · · selected 601dc19b…29d2
Bitcoin maximalism is just Dollar 2.0 - it basically guarantees Bitcoin will fail, the same way the dollar wasbasically guaranteed to fail.If people always kept their savings in a mix of currencies, the US never could have ended the gold standard.Trying to confiscate everyone's gold would have resulted in everyone exchanging their dollars for othercurrencies. Trying to eliminate gold redemptions would have resulted in everyone exchanging their dollars forother currencies. Bretton Woods would have probably resulted in everyone trading weak currencies for strongercurrencies.So the authorities wouldn't have done the gold confiscations, Bretton Woods, or the removal of gold redemptions.Likewise, if you have gold and silver and Monero, and you hold Bitcoin because of its supply cap, and everyoneis like you, then the authorities won't remove the supply cap from Bitcoin because you'd just move to Monero,and they won't shut down the internet to kill cryptocurrency because you'd just move to gold and silver.If we continue on the current path, why the fuck wouldn't the authorities end up removing Bitcoin's supply capor something?
Why would it have helped to keep a mix of currencies under Bretton Woods, since only central banks could haveexchanged them for dollars and then for gold? Why not try to accumulate as much gold as possible in thatscenario?
If everyone had a mix of currencies before they did it, seems like there would have been a rush to exchangeBretton Woods currencies for real ones, and central banks refusing to serve exchange customers in that way wouldbe attracting too much attention to their scam and also probably making their physical locations targets
I'm not sure I fully understand your argument to be honest, especially as it translates to the currentconditions.Are you saying that individuals should hold a variety of currencies, both traditional hard monies and cryptosother than Bitcoin, because if everyone converged to holding Bitcoin only then it would be easier forauthorities to fight it?I can see how it could be more desirable for authorities to target Bitcoin if no alternatives existed, but Idon't see how it could be easier. How would they go about removing the 21M cap for example?
Why would it have helped to keep a mix of currencies under Bretton Woods, since only central banks could have exchanged them for dollars and then for gold? Why not try to accumulate as much gold as possible in that scenario?
🇵🇸 whoever loves Digit -- 253d [parent] | reply [1 reply]If everyone had a mix of currencies before they did it, seems like there would have been a rush to exchange Bretton Woods currencies for real ones, and central banks refusing to serve exchange customers in that way would be attracting too much attention to their scam and also probably making their physical locations targets