(The dollar has most of that, but why does it have any value at all? Because the government collects taxes in it and enforces that with guns.)
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Replying to @HbdNrx @The_Petrichory
Taxes matter much less than the projection of military force. That's what's propping up the dollar, not taxes.
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Replying to @archaeofuturist @HbdNrx
When crypto inevitably takes over, running the presses to pay your army is no longer an option. Being able to withhold taxes as an act of protest against evil state uses of them returns. The future is truly a terrifying place for warmongers and bankers alike.
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By what mechanism does something without a military overtake something with one? That's, I believe, the crux of
@HbdNrx's point.2 replies 0 retweets 1 like -
As archaeofuturist put it: all money is shared delusion. It's just an idea, and ideas can defeat one another. Give people a superior currency and they won't want monopoly money anymore. No amount of physical force can compel one delusion over another forever.
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Replying to @The_Petrichory @The_WGD and
And no state is going to kill all of its non-compliant citizens when said citizens vastly outnumber the compliant ones. Citizens produce wealth. Not states. And dead citizens produce nothing. Even very bad states usually realize this.
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Even if it's only 20% of the population that's using bitcoin, gulagging them to save the dollar is gonna be a really hard sell.
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There's no need for the government to do that. Bitcoin is just plain heading to zero
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People have been predicting bitcoin hitting zero since day one. I'm not any more convinced by these predictions than I am by IPCC's climate models.
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Replying to @archaeofuturist @HbdNrx and
That said, bitcoin will hit zero eventually, nothing lasts forever. But just because something ends or becomes obsolete, it doesn't mean it wasn't useful during its service life.
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I admit that it's actually useful right now
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So our difference in opinion on the utility is mostly in terms of the duration. I give it at least a few decades more.
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