Quote from: CryptoApeKing on October 11, 2022, 10:47:51 PM

I don't see how and why a government would allow cryptocurrencies to overtake its own currency as the medium for exchange for goods and services within the global economy. There are many reasons for this. However the idea of allowing the Government Currency to hedge against BTC is an interesting idea. We would be going back to the days before the FED was created.

We all have become so accustomed to permissioned forms of money - government-issued money - that it became almost impossible for us to conceive of a world based on a permissionless system where all interactions between individuals can be conducted without the violent interventions of those who have power. Yet, with the invention of the bitcoin decentralized system, we are getting closer and closer to a world where governments and money are separated, which means no single entity will have the power to dictate economic course or to print up money out of thin air for no cost to enrich whoever is close to that printer. The main reason why bitcoin may succeed in helping people to throw off the shackles of the system based on fiat money is that it is completely out of reach for those having power: no matter how wealthy you are or how many friends in high places you have, you won't be able to take away bitcoin from people holding their own private keys, you won't dilute their savings, and you won't enslave them by selling empty promises. People didn't ask for the government's permission to generate a random number, they will also not ask for permission to send these numbers to whoever they want because a decentralized system incentives people to behave in a decentralized way.