Re:Elizabeth Warren Gives SEC July 28 Deadline to Figure Out...
by vinsci on Thursday July 08, 2021 @05:55PM
(#27778097)
Bitcoin is already regulated, with the algorithm that determines the difficulty of successfully calculating a transaction block, and the max number of Bitcoins.
The USD, on the other hand, has no such algorithms, and so in the last year alone the USD was weakened with three trillion new dollars without any backing.
Regulating the USD would be a high priority, but realistically you shouldn't expect that to happen. There's more value, from the perspective of owners of real estate and other assets in letting the USD melt down, create a crash on a scale that has never been seen before and just take whatever you may still own in exchange for some food and water.
The USD, on the other hand, has no such algorithms, and so in the last year alone the USD was weakened with three trillion new dollars without any backing.
Regulating the USD would be a high priority, but realistically you shouldn't expect that to happen. There's more value, from the perspective of owners of real estate and other assets in letting the USD melt down, create a crash on a scale that has never been seen before and just take whatever you may still own in exchange for some food and water.
The slightly less serious analysis from a couple of years ago: https://m.youtube.com/watch?v=-j_CxQFziFU