Topic: Ideal flow of government money to Bitcoin (Read 603 times)

I can concur to this alot of them will close down show for the fact the fear and hate they have for it right now.

one could say btc is similar to sdr´s (special drawing rights) its not supposed to completely replace all local / regional currencies which you call government money which it is not it is money which is owned/issued by the local / regional reserve banks
just my 2 btc

I have a strong feeling heavily monopolized/subsidized institutions will have a hard time accepting bitcoin; they will likely buckle and disappear before that happens, which I am not opposed to.  But it would seem to me government institutions especially, though perhaps specifically in America, will sink with the dollar.  They can't inflate bitcoin, which means taxes will realistically reflect what they're being spent on and nobody would accept that bill if they knew the real cost of all that military, there'd be a revolution the next day.  It seems like they're being backed into a corner ever so slowly, and though I recognize that it's inevitable that something will eventually replace the dollar (after all, nobody uses the denarius anymore, so certainly the dollar can disappear), and bitcoin just happens to fill that gap very well, my biggest concern is how badly oligarchical governments will lash out in their dying throes before croaking.

I'm not so worried about how people will transition from one currency to another; they seem pretty good with that, they've done it many times before, though many of us haven't in our lifetimes.  But this massive shift between a highly centralized environment to a highly decentralized environment is likely what can get us killed if we're not prudent and meticulous in our action.

Looking at the exchanges, there is bitcoins being traded for government money. As government money is traded for bitcoin there always has to be someone selling bitcoins for government money. So, how would we ever replace that money if it is always being traded?

The ideal scenario is to only sell your bitcoins in order to pay off your debts and to work toward getting paid in nothing but bitcoin.

That way, the Federal Reserve will have all of their Federal Reserve Notes with nobody willing to accept them.


I am not saying that this would happen in a short amount of time, I am saying this is the ideal way to replace government money.


Give unto the Federal Reserve what is the Federal Reserve's.