| | | Re <<Thiel ... Matt>>
Let's note that BTC has been weaponised. A weapon, if valuable, must be grabbed at, as would case of a gun during a fight, and not be allowed to fall away, and especially not end up in hands other than own. However if the weapon is an unstoppable bomb ticking away and one is inside of an elevator together w/ the bomb, then not-good.
BTC is something that is not a fiat, recognised as a 'thing' of value, like the stone wheels of Yap island Rai stones - Wikipediahttps://en.wikipedia.org › wiki › Rai_stones but with a larger social network of hoarders.
The hoarding mob may already or soon might include nation states, if or when it makes sense.
Wonder what if anything happens should Team China bind one Satoshi to each digital 100,000 yuan, by using Casper glue, and name the resultant recombinant BitYuan, and stipulated that rare earths transactions hence force can only be conducted in terms of BitYuan?
Call it an experiment, since China fond of experiments.
It serves little purpose for USA to bind a Satoshi to every US$ 20,000 and dictate that whatever trade be carried out in NewDollar, at least not unless and until the Old Dollar no longer good and heading towards non-fungible.
So, yes, BTC is less of a threat to Yuan than to the Dollar, but should the US authorities ban the BTC, and the hoped-for outcome fails to materialise, then we accelerate towards BTC @ 500,000
Should the ban, due to whatever actions of like-minded nation-states miraculously succeed, then BTC goes to zero except to any extent underpinned by BitYuan and the rare earths trade.
In other words, BTC can take on intrinsic value the minute any nation state adopts it as fungible fiat variant even if only limited to certain types of trades.
is my reckoning, that interesting times we are already in.
Recommendation: hoard gold and bitgold, one or the other or both shall work out well, even as both are useless until used. |
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