epsql -- 253d 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? reply [1 reply]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?
thread · root 819e8a74…91eb · depth 2 · · selected de3392ea…25b4
thread
root 819e8a74…91eb · depth 2 · · selected de3392ea…25b4
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?
Bitcoin maximalism is just Dollar 2.0 - it basically guarantees Bitcoin will fail, the same way the dollar was basically 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 other currencies. Trying to eliminate gold redemptions would have resulted in everyone exchanging their dollars for other currencies. Bretton Woods would have probably resulted in everyone trading weak currencies for stronger currencies.
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 everyone is 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 cap or something?
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