Quote from: Hyperme.sh on October 15, 2017, 12:19:20 PM

Quote from: jubalix on October 15, 2017, 09:33:10 AM

At some point nations will have to prove their reserves and credit worth via BTC held, and so attract investment capital in FIAT or whatever.

Why? because the credit risk of a country with BTC will be much much lower and more transparent than any alternative.

Do you realize how delusional your statement is?

Yeah maybe in 10 - 20 years from now, but not any time soon.

Quote from: Hyperme.sh on October 15, 2017, 03:07:06 AM

Equating Zimbabwes (or even Chinas) relatively shallow liquidity currency and Treasury bond market, to the USA dollar and US Treasuries is not a cogent analysis of reality.

Quote from: https://www.armstrongeconomics.com/international-news/china/china-to-open-bond-market-to-foreign-investors/

China to Open Bond Market to Foreign Investors

Without a viable bond market, no currency can become the reserve currency and compete against the dollar. It does not matter what you price in yuan, it still requires a trustworthy place to park your money. This is basis fundamental international economics 101. Schools teach domestic economics and are generally ignorant of international economics.

Quote from: https://www.armstrongeconomics.com/writings/2013-2/can-the-world-really-abandon-the-dollar-as-a-reserve-currency/

Until debt ceases to be money that simply pays interest, the dollar will not vanish as a reserve currency. There is no replacement as of yet. Even when China becomes the largest economy, that will not displace the reserve status of the dollar until there is a deep market to park cash. That is separate and distinct from trade being conducted in a variety of currencies. We have to revise the world monetary system. When we reach that point, then we can deal with creating an alternative for a reserve currency that is entirely distinct from trade currencies.

Quote from: https://www.armstrongeconomics.com/international-news/china/xi-jinping-see-a-change-in-the-world-in-10-years/

Some comments are saying that China follows every word I say. I think that is an exaggeration. Yes, before my ordeal, we entered into an arrangement with China to do the forecasting for about 1,000 government entities. Yes, I was invited to the Central Bank when the Asian Currency Crisis hit. Yes, I recommended going to the US Treasury and demanding to buy bonds directly circumventing the New York bankers. True, our services are not blocked in China.

Hang on Hang on, did I put a time frame on this?

I would have put a circa 7 ~ 10 year time frame...so not sure why you say x is delusional then say, it can happen in 10 years.

I am looking from the point of view of credit risk. Alot of what a country can do eg capital raise, attract investment, keep issuing debt may come down to how well you can asses their credit risk and how well you can secure collateral, or a least stop them from benefiting politically from nationalizing your work via the many ways, tax law change, new regulations etc. BTC represents a clear option to address both of these issues.

I don't agree with your characterization of equating my argument to reserve currency which is different to credit risk.

thats a different proposition. A reserve currency may require different conditions and probably a much higher market cap so it has the depth to handle large transactions.

Also I'm not going to say BTC will be the one to do it but some crypto will.