I love Bitcoin ever since hearing about it.
I love it because it is freedom and liberty.
But there is as I see it a paradox emerging- or more like a contest.
Nation states have derived huge power via fiat money- they along with banks can issue fiat to fund wars or projects to buy votes or gain power. The USA has enjoyed the greatest fiat monetary power being the world reserve currency since Bretton Woods. The vast wealth that being global reserve currency issuer givces the USA has enabled it to maintain global power and dominance but that dominance is waning and US debt is massive- probably impossible to repay. Now China is seeking to challenge that power and dominance. China is building Belt and Road and China is seeking to make the Digital Yuan the new global currency. Saudi Arabia is now considering selling oil for Yuan. Russias invasion on Ukraine is a declaration of war upon the current USA/Europe power.
China has banned Bitcoin and will expect its allies to use Yuan. While USA and Europe still allow BTC. In fact most countries to have banned BTC are autocratic undemocratic and corrupt. Because BTC respects and empowers the individual at the expense of state power.
So the paradox is - does BTC adoption potentially undermine the USD and western liberal democracy and enable Chinese Autocracy to gain global domination?
This is the unsure aspect- perhaps nobody wants Chinese money and the lack of transparency that goes with it.
Or will USA Europe ban BTC if they feel it is allowing value to drain from their fiat hegemony while they are also being challenged by a rising China?
Just my thoughts maybe Ive got it all wrong?
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