Quote from: barbara44 on Today at 10:46:23 AM

Quote from: AndySt on August 27, 2021, 11:59:17 PM

Investing in bitcoin and using bitcoin as a gold standard are slightly different things. It is one thing when individual citizens are engaged in these investments and how the state treats this, and it is quite another thing when the state can use bitcoin in its reserves on an equal basis or even instead of gold. Here there are a lot of nuances, both the availability of a legislative and regulatory framework, and the readiness of the state structures themselves for this. Nevertheless, the use of gold in the economy is worth many thousands of years and already quite well-developed mechanisms, which can not be said about bitcoin. Therefore, we can talk about investments as much as we want, but the gold standard at this point in time is unlikely to be threatened by anything.

Well, we have few things that are closer to it right now. First of all El Salvador accepts bitcoin as legal tender, which means that they may have bitcoin on their reserves as well since people would be able to pay taxes with it since it is legal tender, that is number one.

Secondly Miami mayor has said many times that they are willing to pay salaries in bitcoin, which requires them to have bitcoin, not really reserves thing but at least it is a government official, and bitcoin in the same sentence.

Thirdly we have many hedge funds and similar places that move from cash to bitcoin for their reserves, makes sense because until they find a better investment idea, they get to keep that in bitcoin as well. So long story short we are talking about a road map here, it is getting there, nations could soon have bitcoin reserves for in their treasury and doesn't look like it is too far away neither.

I agree with you, but not all governments in this world will legalize bitcoin because of the ego of each country's government. They are aware that Bitcoin has a very large opportunity to be a solution to economic conditions that continue to be eroded by inflation. So that by securing their authority as regulators, they argue that by introducing CBDCs to the public, the attachments are guaranteed to be safer. There are no underlying assets in each country's currency other than the guarantee of the central bank. What's the use of collateral if you save without making a profit.