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20 sats \ 3 replies \ @Coinosphere 16 Feb 2023 \ parent \ on: Cypherpunks were wrong about something. What are bitcoiners wrong about? bitcoin
Nah. The real damage was done in 1971, with only the petrodollar advantage saving the dollar ever since... And since the Saudis are now openly talking about joining the BRICS, the dollar's time is officially done. Stick a fork in it.
I can't say how long it takes but I'm sure it has a lot to do with how fast China & Russia take to announce their new reserve currency.
Gradually then suddenly
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Yeah, I should have written "a slow fiat death". Let's say China and Russia announce their new reserve currency and it displaces the dollar. My point is that Bitcoiners could be wrong on thinking that Bitcoin would replace that new reserve currency overnight. It's definitely > 0 probability
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Their new faux hard money currency will collapse faster than they ever thought possible. Hard money CBDC. Almost comical. The allies should start by dumping gold on the open market killing the monetary premium, then doing nothing to slow down the adoption of bitcoin, let it metastasize and watch it do what it always was going to.
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