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21 sats \ 1 reply \ @Storyteller 26 Jul 2023 \ on: What is the WORST case scenario for Bitcoin? bitcoin
What needs to happen for Bitcoin to go to 0 dollars and rest in peace and why that would be great for us all here?
- First the USA would need to pay its debt. 31 trillion usd. And fund all its unfunded future expenditures. And raise taxes. Decrease its debt to gdp ratio to say 60% from 128% currently. The USA citizens would need to cut all their credit cards and live by their means. No more debt. No more money printing out of thin air by the FED. No more helicopter money.
You consume what you earn and you save. Then Bitcoin could go to 0 dollars. And we would be in a better world. Not only USA but also Europe, Japan, China! Pay your debt back to a reasonable sustainable percentage.
Basically this would mean no more monetary inflation. It would actually mean deflation. Technology would make everything cheaper. And we when we work hard for money - that can not easily be printed no more for free - would see our fiat money INCREASE in value and we would save.
Banks would not be able to have 10% or 3% deposits and lend out 10-20-times the deposit.
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Countries need to find a way to trade and trust each other’s currency. In international trade if I want to send you a car I made I don’t trust you currency. I don’t trust your “shitty” paper. Because I know you can print it. So to stimulate international trade ALL countries have to promise never to print more money anymore. There needs to be a mechanism some digits that nobody can print. No government can print just to finance their secret local desires. We need to have global sound money created by the governments. If any politician breaks this rule, the got stiked down by a magical thunder out of air. Globally. When that happens we don’t need Bitcoin anymore. It can go to 0 $ and we live in a better place than today.
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No more free lunches and everybody works that can work Currently if you work and others don’t work you get taxed. The more people sitting at home and the harder you work the more taxes you pay. If you build a business and you got 4 villas you get taxed like property tax. Governments can tax your wealth away. When governments promise not to tax your wealth away on any country in the world there is no need to stack sats they cannot easily tax. Then Bitcoin can go to 0 $ and we are in a better place.
There might be more things that need to happen so Bitcoin can easily go to 0 $ and rest in peace and we would not need to. Let me know which one you think below.
If Bitcoin goes to 0$ and NONE of the above has been arranged and done we will be in a world that is worse than the one we are living in.
So untill then keep stacking sats.
1, 2, and 3 would never happen 😅
So there’s a huge chance of Bitcoin succeeding then.
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