Imagine trying to jump from one train to the other if:
Train A is going 65 mph
&
Train B is going 60 mph
Only these trains aren't running in the same direction. They are running in opposite directions.
That's what "pegging" the dollar to Bitcoin would look and feel like. You can attempt that jump, but like Joe Carlasare says, "The new paradigm isn't forced upon the old; it succeeds it."
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And the next time these trains encounter each other they will both be faster.
Obviously, American trains.
Chinese trains, 21st century, run way faster!
⚡️
Small allocations don’t work either?
Ouch 🤕 Excellent word picture @preston
They are going to want to call in Jean Claude Van Damme as economic advisor then 😅
Nice take
#Bitcoin consumes it…………..
The dominant consumes the weak………
#Bitcoin being honest money will do this……….
Probably the best way to transition would be for red states to promote bitcoin via full reserve state banks. As Balaji suggested, they could connect with each other to pool liquidity.
I imagine 2027, standing in line at the DMV, opendime in one hand, two fat stacks of $100,000 bills in the other... waiting... waiting... hoping to transfer them for a few measly satoshis
Analogies are fun
Satscards are better than Opendimes 😉