Bitcoin’s Overnight Collapse Probability Is About 50%

Re:Bitcoin’s Overnight Collapse Probability Is About 50% by solosoyokaze on Tuesday February 16, 2021 @11:42AM (#26155756)

The US would never switch to BTC as legal tender because they can't control the supply of BTC.

BTC is "clean" money in that it doesn't have the blood of millions and an imperialistic army powering it.

The energy usage by BTC is a drop in the bucket compared to the ecological damage wreaked by the US military.

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Re:Bitcoin’s Overnight Collapse Probability Is About 50% by JumpCrisscross on Tuesday February 16, 2021 @11:45AM (#26155810)

> US would never switch to BTC as legal tender because they can't control the supply of BTC

Most evidence shows the U.S. no longer benefits from the dollar as a global reserve currency. And lots of governments have currency boards or currencies they don’t control.

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Re:Bitcoin’s Overnight Collapse Probability Is About 50% by llcoolv on Tuesday February 16, 2021 @12:12PM (#26156141)

This is a quite dubious claim:

1. The currency board countries are very small players, mostly beaten to blue and also not all currency boards are tied to USD.

2. The bulk (I guess 90%+) of global lending is still in USD - a currency which the Fed can debase at will - as has been happening since 2008 and happened at a grande scale in 2020.

This brings only frustration and bitterness - the last two things you want in international relations, especially in the post-nuclear age soft-power days.

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