> I'm not saying that the US would tie the dollar to Bitcoin willingly. It would have to do it out of necessity to be able to interact with nations that have resources that the US needs.
I think the idea that the dollar would be replaced by a faceless, useless currency is pretty unfounded. There's no draw to using Bitcoin, even the digital yuan has a better shot at dethroning the dollar than Bitcoin does. Plus, what makes Bitcoin any better than the hundreds of altcoins that came after it, many of them fixing the problems inherent to Bitcoin?
> This also translates to each country's citizens, they can't be robbed by their government...
Right. Now they can only be robbed by each other and the rapid fluctuation of an asset they have no control over, with no stability guarantees. Every day can be a bubble in the Bitcoin-based world!
> Maybe they like the way things are... Sanctions and all.
They have no choice but to like it. I can assure you that the wealthier Russians who woke up to a post-SWIFT nation didn't "like the way things are", nor was Putin very happy when Apple and Google decided to close up shop domestically. I'm not an extremist proponent of sanctions, but there is definitely value in having a network that can shun a nation when they start committing war crimes.
> Bitcoin is available now (has been for a decade), so what keeps bad actors from using it to purchase arms now
Nothing. As a matter of fact, Bitcoin kicked off a digital arms race to make even more private currencies like Monero which are now the preferred medium for transacting pretty much anything illegal, from drugs to weapons.
I think the idea that the dollar would be replaced by a faceless, useless currency is pretty unfounded. There's no draw to using Bitcoin, even the digital yuan has a better shot at dethroning the dollar than Bitcoin does. Plus, what makes Bitcoin any better than the hundreds of altcoins that came after it, many of them fixing the problems inherent to Bitcoin?
> This also translates to each country's citizens, they can't be robbed by their government...
Right. Now they can only be robbed by each other and the rapid fluctuation of an asset they have no control over, with no stability guarantees. Every day can be a bubble in the Bitcoin-based world!
> Maybe they like the way things are... Sanctions and all.
They have no choice but to like it. I can assure you that the wealthier Russians who woke up to a post-SWIFT nation didn't "like the way things are", nor was Putin very happy when Apple and Google decided to close up shop domestically. I'm not an extremist proponent of sanctions, but there is definitely value in having a network that can shun a nation when they start committing war crimes.
> Bitcoin is available now (has been for a decade), so what keeps bad actors from using it to purchase arms now
Nothing. As a matter of fact, Bitcoin kicked off a digital arms race to make even more private currencies like Monero which are now the preferred medium for transacting pretty much anything illegal, from drugs to weapons.