Quote from: numismatist on April 11, 2017, 10:05:24 PM

In a way he's right. The believement into monetary value. The detail he messes up is the necessiarity to make someone believe by force. There are believers who got not forced, but still do believe.

But we are still living in a paradigm were 'monetary belief' is held together at the most fundamental level by force. With that paradigm being the Global Petrodollar Hegemony enforced by the might of the US military. There are handful of not insignificant 'rouge' states whose are actions are undermining the US Petrodollar Hegemony. If these countries actions continue to go unchecked, much of the monetary belief holding up the USD as global reserve, could evaporate. WW3 will likely be fought to prevent this from happening. We can already see the beginnings of it in Middle East, Nato incursions into Russia's own back yard, adding to the already established US missile belt surrounding China and Russia, stretching from Japan, Korea, Middle East, Eastern Europe.

Bitcoin's value entirely depends on it's convertability into USD and any currency war resulting in a failing currency, will likely be very good for Bitcoin, UNLESS that failing currency is the USD. If/when the USD fails, then nobody will want to be holding artificially created proxies on real wealth. No paper wealth. No digital wealth. Only real tangible assets will matter.

Bitcoiners should all be cheering on the Neo-Con war hawks as they seek to back non-petrodollar hegemony compliant nations into a corner and ensure that there, and everyone else's currencies fail before the USD does.