A world in which centrally banked money is optimally managed is comparable to a world in which bitcoin is effectively global legal tender, and a world in which all central banks value stabilize versus bitcoin. Each scenario is an expression of Ideal Money
Yeah, but if you are a merchant or a business, why would you accept or hold a 300b mcap (higher-risk) gov fiat currency as opposed to 50T hypersecure hyperlgobal Bitcoin? Why use something that is "backed by Bitcoin" instead of Bitcoin itself? It makes no sense
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Unless it is your own token that you promised you will take at ratio 1/X BTC, just like you can do right now with many merchants that accept miles/giftcards etc...
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why go back to the need for *trust* if the whole point was to eliminate trust? why give monetary power back to people again if we now have global trustless distributed consensus algorithms instead?
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It is pointed out by experts in the field, bitcoin is not a trustless system, it is trust minimized and trustworthy. Yuri has the correct sentiments, if banks print money with value stability w/respect to bitcoin, then it is trustworthy money. Banks aren't evil.
End of conversation
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