Bitcoin News
By Steven Anderson
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Bitcoin (BTC) Getting Destroyed by USD
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It is true that the fundamental demand for Bitcoin is in place, it has a superior monetary policy with a fixed supply that is credibly enforced.
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Erik Voorhees, CEO of ShapeShift.com tweeted: “A small nation could buy $10 billion of Bitcoin, wait five years, and no longer be a small nation.”
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The reality is that not many nations have so much of disposable wealth. Each of the countries like to work with their own fiat currency.
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However, people with knowledge of how nations work have to state that debt-based economies hate constrained money.
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Despite criticism many feel that this is going to happen. This can be a great opportunity for small countries that have disposable wealth.
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However, critics have to state that if this should work, why no small nations have done this already, or if they have, why they have not done so publicly.
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In this regard, Sydney Ifergan, the crypto expert tweeted: “Some have to state that Bitcoin (BTC) will destroy pretty much all the debt markets.
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Some think that if people prefer rocketing to success with smart choices instead of slaving away for it, we could see that happen. Some say if this happens there will be no nation.
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Those who agree to this idea state that interestingly the nations that are best positioned to do this are the ones that are dictatorships.
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When someone asked, how much would the US Federal Reserve need to spend to dominate the BTC market, then destroy it? Could they based on amount hodl vs ready to sell?
The Currency Analytics
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