pull down to refresh

0 sats \ 2 replies \ @Undisciplined OP 11 Aug \ parent \ on: Should the US Government Acquire a Bitcoin Reserve? • Listen on Fountain bitcoin
My point is that if holding some bitcoin would accelerate the dollar's decline, then holding even more should be worse. However, if we go far enough, it seems clear that it would do the opposite and actually inspire confidence in the dollar.
write
preview
0 sats \ 1 reply \ @Solomonsatoshi 11 Aug
If you were to go to the extent of making the dollar redeemable for Bitcoin you are then admitting Bitcoin is a more secure and reliable SoV than the USD...
ie that the dollar needs such backing to maintain trust and faith in it.
Such an admission would undermine the dollar as its current status depends upon it being seen as a strong, reliable and highly liquid SoV.
reply
0 sats \ 0 replies \ @Undisciplined OP 11 Aug
Who cares about "admitting" anything? Such a backing would clearly make it a stronger currency, given your other assumptions.
The rest of the world, if they see Bitcoin as a superior store of value, is not going to abandon the dollar because it's got too much Bitcoin backing it.
reply