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A comment on Digital Money Across Borders: Macro-Financial Implications. Parent comment

Re:Digital Money Across Borders: Macro-Financial Implications by x87678r on Friday October 23, 2020 @08:50AM (#24868896)
The USA is super strict on making sure every transaction they can control gets monitored and tracked. Any financial firm that touches dollars must comply or they'll get fined literally billions. There is no way BTC will be allowed to go mainstream unless the US regulators can track every user on the blockchain.
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Re:Digital Money Across Borders: Macro-Financial Implications by anm89 on Friday October 23, 2020 @11:52AM (#24870802)
Our "exorbitant privelege" is not going to last forever. When the imf called. For a new Bretton woods moment last week, ending that system is what they were talking about.
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Re:Digital Money Across Borders: Macro-Financial Implications by x87678r on Friday October 23, 2020 @04:45PM (#24873937)
Yeah check out where IMF headquarters is and who pays for it then tell me again that the IMF is going to let BTC take over from the dollar.
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Re:Digital Money Across Borders: Macro-Financial Implications by anm89 on Friday October 23, 2020 @05:19PM (#24874298)
The IMF already doesn't have a say in this. The USA isn't going to have a say in it either if 30 year yields go down any further.

Also I'm not claiming that the BTC will take over the dollar, I'm saying dedollarization will occur in general. This isn't a particularly controversial opinion at this point in the finance world. The average CNBC guest is willing to admit this at this point.

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Re:Digital Money Across Borders: Macro-Financial Implications by x87678r on Friday October 23, 2020 @05:50PM (#24874641)
> I'm saying dedollarization will occur in general.

US Feds have gone overboard on tracking financial crime, but I really dont see people thinking Euro, Yuan or Yen is safer. Certainly non-CB cryptocurrencies are worthless as soon as sentiment turns.

> The average CNBC guest is willing to admit this at this point.

That really doesn't hold a lot of credibility with me though. :)

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Re:Digital Money Across Borders: Macro-Financial Implications by anm89 on Friday October 23, 2020 @06:18PM (#24874891)
You keep responding to things I haven't said . I'm agnostic to how dedollarization will occur. I'm not claiming that it will be the Yen, the euro, the sdr, gold or bitcoin specifically.
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Re:Digital Money Across Borders: Macro-Financial Implications by x87678r on Friday October 23, 2020 @07:41PM (#24875587)
you too.
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Re:Digital Money Across Borders: Macro-Financial Implications by seibelj on Friday October 23, 2020 @08:57AM (#24868968)
It becomes an asset that eats dollars. Print more dollars and BTC goes up. Just like gold sits in vaults, Bitcoin can sit in cold storage.

BTC is also something that individuals can buy in extremely small increments. It is an escape valve for people in Argentina, Turkey, Venezuela, etc. to protect their wealth from horrible and corrupt central bankers.

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