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Old 25-11-2021, 03:32 AM
Gem Gem is offline
Join Date: Oct 2010
Location: Australia
Posts: 21,134
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It's also bigger that we think in real terms, because since ElSavador legalised Bitcoin as a national currency, the FX should have to include Bitcoin on its register of global currencies. I can't even imagine what that means. But it looks pretty close to being a global 'gold standard' because it's the only peg with a finite cap.

The other point is, Elsalvador is case proving large scale mining as an integration into their renewable energy grid... which has a very high probability of working. Other electricity producers around the world will see how they can capitalise on Bitcoin mines as part of their capital investment structure.

Many electricity producers will integrate mines into their infrastructure and Bitcoin will be a new class of global reserve 'currency'. But not in the sense that trades will happen in Bitcoin... in the sense that hash rate will increase and decrease to keep energy output (base load) steady... I can't imagine what global hasharate tracking would men to global energy markets if Bitcoin is also the currency peg.
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