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/biz/ - Business & Finance

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24220405 No.24220405 [Reply] [Original]

>The year 2050
>Bitcoin and other cryptos have now been widely adapted by most areas of the public market
>One nation decides to implement Bitcoin as the basis for their currency
>Similar to how nations used to have gold as their basis

How will this work for said nation?

>> No.24221398

Nobody's got any thoughts?

>> No.24221457

>>24220405
too komplex for /biz/

>> No.24221497

I dont know but it will launch us from the 1% to the 1% of the 1%

>> No.24221518

>>24220405
I think it has to do with atomic swaps, keys and shit, but just buy more

>> No.24221653

>>24220405
haha those lines look funny

>> No.24221716

>>24220405
it would only end well for the nation that had accumulated a large share of existing bitcorn

>> No.24221790

>>24220405
We will need to see hyperinflation first, if a government implements bitcoin as reserves its because they have absolutely no other choice. I can see countries without their own currency, like Ecuador, Panama or Zimbabwe, implementing it though.

>> No.24221948

>>24221790
Nah that's where Reserve rights it's going to enter, if you know you know

>> No.24222005
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24222005

>>24220405
Are you stupid or pretending to be stupid?
Why does ETH exist? why defi exist? why dao exist? why chainlink exist?
So you could swap anything anywhere to anything you choose.
Dude, any country can launch their own stable coin or choose available ones to use, then use swaps to make transactions.
There are enterprise blockchains, many of them swapping between blockchains, this is why Sergey and Ari work on digital agreements and signatures.
BTC can be a station pool, from which Country blockchains swap to what they want, but at the end btc can be forgotten and never used again.
Start reading, what is an actual blockchain today and how far tech has come to serve the world, securely.

>> No.24222214
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24222214

>>24220405
>implement Bitcoin as the basis for their currency

That would take trillions in infrastructure unless it was like Vatican City or something. Maybe some Asian countries could pull it off.

If that type of experiment didn't fail in the first decade of implementation it would probably make that country the wealthiest populace on Earth, however it would fail in the first decade. Not being able to control your own monetary supply would probably have crippling effects on the government which would completely fuck things up right off the bat.

>> No.24222250

Every transaction takes 1 week and they lost trillions in transaction feeds