Quote from: Lily Garver on August 21, 2021, 09:41:06 AM

Perhaps one day Bitcoin will indeed become the super-sovereign currency of the world currency and the anchor of the global national currency, but in countries like Venezuela, what can Bitcoin change? I have seen in your previous posts about the bit civilization. Since it is the bit civilization, how can Bitcoin, which has become the anchor of the world, change countries like "Venezuela and Zimbabwe" and how can Bitcoin save them? What?

In my opinion, Bitcoin will not actively change some countries, but whether the people of these countries actively choose Bitcoin. Now we are seeing similar facts happening in Venezuela, Zimbabwe and other countries. The people of these countries are actively abandoning their country’s fiat currency, and they choose to embrace Bitcoin. Yes, similar things are happening all over the world. More and more ordinary people are awakening, and Bitcoin has given them a new choice and real freedom.

Quote from: jaysabi on August 22, 2021, 03:48:55 AM

The IMF already uses some form of supranational currency to make up for the limitations of sovereign currencies. Keynes proposed a supranational currency called Bancor, and while it was never implemented, SDRs are a close analog and currently in use by the IMF. It's therefore extremely unlikely that we would see radical change like Bitcoin becoming the standard supranational currency when we have in practice something that already mimics the effects of doing so, and radical change like the kind you talk about will lose out to the inertia of "good enough" every time.

The current IMF is an important part of the existing world monetary system, and it is also adopting various policies to balance the world monetary system. However, its SDR, like the existing legal tender, is of pure credit nature and has no real value support. Therefore, it cannot fundamentally solve the current economic and financial crises in human society. But Bitcoin is different. It is part of the store of value. At the same time, its issuance is completely decentralized, and there is no force that can be tampered with, so that it may become a truly fair, equal, and free super-sovereign currency.