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@ Kevin's Bacon
2025-05-03 18:34:07
I find it interesting that Strategy has found a way to legally back dollar debt instruments with Bitcoin instead of with taxes or with fragile earnings expectations and empty balance sheets. And to do so in a way attractive to institutions and individuals and that is liquid and accessible on exchanges. Is this the preview of a future Bitcoin-dollar currency system that's based less on theft and more on a service of issuing stable currency?? Not that I would prefer that over Bitcoin at all, but I wonder how we get people to move over to the new system while ELIMINATING the old system of control, practically. That is, I wonder how it will evolve in reality.
The dollar will be around for a while in some form or another. What if there are tax revolts and secession movements that successfully force state and federal governments to relinquish control on some regions, and dollars become a more decentralized currency backed by contracts for certain amounts of bitcoin or other commodities? Bitcoin would still be the best money, but it's possible that there is a two-currency system that develops as normies still might not get it, various regions with different cultures might prefer different things, and some normies will prefer the perceived stability of a familiar dollar, if it can be saved. Dollar issuance would inflate more predictably if there was an agreed upon standard that was tied to contracts on bitcoin or purchasing power or tied one to one to alternative commodities.
It might be done as a means of saving the dollar from complete catastrophic collapse. All just speculation, idk. I need to learn more about money.