Fiat money gives significant advantage to the nation state that imposes it. For a nation state to surrender monetary issuance to Bitcoin the nation state is surrendering a significant part of its power projection potential. The effect of global reserve currency status is immense and carries risks but has enables the US to maintain its global power wealth and consumption far exceeding production for decades. Fiat money enables the nation state to leverage the monetary wealth of all citizens to finance whatever purpose the nation state chooses- including war and competition over resources- for nation states to surrender this power would be illogical. Today China is using fiat debt capital issuance to build its global empire and overtake the US dominance. It seems far more likely that the dynamics of nation state power projection will dominate over the equity and fairness that Bitcoin delivers individuals. Individuals are after all ultimately reliant upon the nation state for the provision of security, law and order and the fundamentals that enable enterprise to generate wealth. Chinas mixed economy leveraging fiat debt capital issuance is building wealth and military power at a rate unprecedented. Bitcoin might serve as a refuge for capital from that controlled by dominant nation states but it seems unlikely given the role of the nation state in wealth and power dynamics that Bitcoin can or would logically displace fiat money from its dominant role in the settlement of international trade payments and within nation state economies.