0/ Sound Money Sound-Off Bitcoin has a great chance of becoming Gold 2.0 and a digital Store of Value but it has just about a near-zero chance of becoming money and certainly not in our lifetimes.
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And full currency subsitution can happen without war, an economic crisis can suffice: https://en.m.wikipedia.org/wiki/Currency_substitution … long history of governments that lacked monetary sovereignty, I’d be they were more peaceful too
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In the case of hyperbitcoinization, governments will likely respond in different ways. While some governments might attempt to censor or regulate it, others might—driven by jurisdictional competition—adapt to bitcoin. The Sovereign Individual outlines several potential scenarios:pic.twitter.com/7xeBXlYbDT
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How does one go about banning bitcoin? Where does the bloodshed come from? Definitely not from bitcoiners. Banning is clearly difficult. Violence is not. The state will have to use the media as a propganda machine to persuade the public that bitcoiners are violent
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Even then if the state is able to do that they will then have to arrest bitcoin owners & likely their family/friends. In a world where everything is recorded & government distrust is at all time levels & likely would happen in a time of high inflation would the public play along?
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Ironically the state would then choose to hold the BTC they are able to confiscate, making it even more desirable to hold and find protection. It’s possible the government will use violence to take it but that almost makes it more likely to be the reserve, albeit violently.
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