this post was submitted on 23 Oct 2024
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Governments in their current form don't like legal tender they can't inflate at will. Never going to happen. People have been saying this for 14 years now. It's done, guys. Bitcoin has saturated the world as much as it ever will. It will now adopt the "Linux Desktop" status, being a small minority among every other electronic form of payment.
Bitcoin was never meant to be legal tender, and it still isn't.
The fact that it's now a regulated commodity is pretty antithetical to its original purpose, but still, it doesn't make it legal tender.
But setting all that aside, you're right, monetary controls are pretty important tools of a nation state... And your alternative is what? A digital gold standard based on Bitcoin....?
That idea is so idiotic, that I can't even start to write out the problems with it, because I wouldn't stop.
The white paper literally says its supposed to he a digital cash, which is legal tender.
And at least one country has already made if officially legal tender lol
It's not digital cash it's digital gold. It doesn't have a predefined value that can be equated against another currency because its availability is limited, It's not currency it's a commodity.
It will become a currency when mining stops, when there is no more bitcoin being made and the value is set against other currencies that's when it becomes a digital currency, assuming that ever happens.
Wrong. Read the white paper.
Your know of course that what's some random crypto bro thinks about his production is not a basis of reality right. ?
Reality is defined by everyone else.
Lol I think the creator of a concept deserves special treatment in what they created. For example, Darwin's ideas weren't about white supremacy, even if social Darwinists used it to justify eugenetics.
I'm not sure I quite follow the logic there. If I hit you over the head and tell you that it's actually a prescribed medical procedure, you are still being hit over the head.
El Salvador has taken the podium