Re:Cambridge Bitcoin Electricity Consumption Index
by 3np on Wednesday February 10, 2021 @10:00PM
(#26097772)
The state can still manipulate their national currency (which Bitcoin likely won’t replace). Positive things with Bitcoin are that:
1. When the US dollar eventually loses its status as the global currency for settlement and reserves, no individual country needs to have the same perverse control that they US had as a consequence today.
2. Citizens have an exit ramp from the local currency. This means the state doesn’t have the same totalitarian control of the national economy, limiting the impact on citizens of demonetization and hyperinflation.
1. When the US dollar eventually loses its status as the global currency for settlement and reserves, no individual country needs to have the same perverse control that they US had as a consequence today.
2. Citizens have an exit ramp from the local currency. This means the state doesn’t have the same totalitarian control of the national economy, limiting the impact on citizens of demonetization and hyperinflation.