It's ironic.... you almost need some sort of world government to implement Bitcoin in their ideal scenario.
Not really. It takes a fairly specific set of circumstances to recreate that outcome. You need to have a country with very cheap electricity (operating on a woefully busted soviet-era grid) bordering a very active crytpomining country that suddenly outlaws the practice.
Not ironic at all. Bitcoin isn't meant to supplant or take down the government. In fact, government cooperation is a welcome addition.
Provide an alternate form of money that central powers can't debase. If you dont understand the dollar in your pocket or in your banking account is nothing more than a debt note that has been leveraged, then that debt note has been leveraged again, sometimes multiple times over, then you probably wont understand Bitcoin. Bitcoin has these huge run-ups because 'clever' people try to leverage Bitcoin. People like SBF/FTX want to claim they have billions in $$$ of Bitcoin reserves, but the people who track bitcoin very closely (CZ/Binance) have a very good idea of how much they really have. All it takes is a bank run (like Peter Theil did with SVB) to bringing the whole pyramid scheme down. Fortunately the Bitcoin CEO does not have the capability or the authority to print more Bitcoin or create shitcoin insurance pots to save people from their own greed and stupidity.
@dmoneybangbang has asked this question multiple times and never been satisfied with the answer, and the purpose hasn't changed, so there's probably notpoint in going down this road. You either understand what is wrong with central banks/FIAT or you don't. Simple as that.
Because I’ve noticed depends on who you ask….. You say it welcomes government cooperation but it also is replacing a major function of government. I find your statement to not line up with reality or what @Space Ghost is pushing.
It is a way for people to get rich off the greater fool theory. Just like EVs are a way to sell more cars under the guise of "saving the planet".
Anything designed to take advantage of fools is a money printing machine. We taking advantage of FOOLS? Sign me up, coach.
nothing better than storing your wealth in a volatile sht show. on a related note... PLBY Group (PLBY), the parent company of the late Hugh Hefner's Playboy enterprise, said it took an impairment loss of $4.9 million on the ether (ETH) it held last year, as crypto winter created a significant decline in the broader market prices. The lifestyle and media company said it accepted ether as payments for its “Rabbitars” non-fungible tokens (NFT) launched in 2021, which it holds in its balance sheet as digital assets, according to an annual filing on Thursday. The value of the digital assets sits at $327,000 as of last year, the filing said. https://www.coindesk.com/business/2...-49m-on-ethereum-it-accepted-as-nft-payments/
SpankPay Crypto Payment Service Shuts Down https://decrypt.co/124095/spankpay-spankchain-adult-sex-industry-crypto-payments-shut-down @Jontro
Yes and no. Bitcoin has several effects/properties that some people find more important than others. But you have heard all of them by now and seem to care very little about them, so I have my doubts your question is genuine and not simply a troll. If you're truly interested in the answer, @Space Ghost 's response was very close to the original premise laid out in the abstract and introduction section of the original BTC white paper. It depends on whether you see the Federal Reserve as part of the government or not. Many don't. If BTC became the one currency of use in the world tomorrow, the federal government would continue on. Of course the government would have to start behaving differently because it could no longer spend money it didn't have, but whatever necessary functions it provided before would be carried forward.
