In the words of the American economist Abba Lerner, from his essay in the 1947 edition of the American Economic Review
“The modern state can make anything it chooses generally acceptable as money . . .It is true that a simple declaration that such and such is money will not do, even if backed by the most convincing constitutional evidence of the state’s absolute sovereignty. But if the state is willing to accept the proposed money in payment of taxes and other obligations to itself the trick is done.”
“The modern state can make anything it chooses generally acceptable as money . . .It is true that a simple declaration that such and such is money will not do, even if backed by the most convincing constitutional evidence of the state’s absolute sovereignty. But if the state is willing to accept the proposed money in payment of taxes and other obligations to itself the trick is done.”
We can not accurately predict the future and how things will be. But for one thing, last 2010 no one believed that the price of bitcoin will not go up to 6K USD. But look at it now? I've seen predictions of 100K USD by the end of this year. Survival of bitcoin will rest with us holders. We should create movement for the coin itself to make the currency stronger and stabler. We shouldn't just aim for a quick buck, but actually help out the market because we are playing the long game
