As other sovereign countries rush to legalize and adopt Bitcoin, the United States may lose its financial and political dominance in the world.
America’s threat is more than just about leaving an ever-growingly plausible amount of money on the tables. Bitcoin’s largest deployment of strong public key cryptography in history is to protect a financial system that is rapidly growing parabolically.
There are many uses for cryptocurrency, including fundamentally reordering the world’s energy infrastructure and protecting it. Modern cyber warfare is about joining the Bitcoin hashpower or accumulation race. Governments legally consider strong cryptography armament. Strong cryptography has been used as a weapon of war since its inception.
The Arms Race to Secure Peace: Cryptocurrency
This is an arms race. However, it has the potential to serve as a conduit for the “animal spirits of war” from conventional kinetic warfare, which ends human lives, to cyber warfare, conducted on the digital layer in our global society. With real and substantial cold deterrence, this can be a positive effect in international affairs.
It is clear that those who are familiar with Bitcoin have good reasons for believing it to be the best deterrent to shooting wars. This has been a part of global financial competition since the atomic bomb and is inextricably linked to the politics of US petrol dollars.
Bitcoin holders can buy conventional arms or finance war with bitcoin, but the Bitcoin financial system cannot be used to finance war in the same way that central banks fiat currencies have been used throughout history.
It is now a question of which US state will lead the union in adapting to the disruption caused by Bitcoin’s rise on the global stage.
The enormous opportunity cost of waiting to adopt Bitcoin
Microsoft has sat back for the past two decades and watched as Google built the mobile software and made huge profits. Bill Gates claims that losing to Android was his biggest mistake.
It could be dangerous to watch El Salvador, Mexico and other countries do the same with Bitcoin. This is a mistake for the United States as well as the national interests of its citizens. However, US policymakers are becoming more aware of the importance and value of Bitcoin.
The state that takes the initiative to promote rapid adoption of Bitcoin, as El Salvador’s Nayib Bukele has done, will immediately reap huge financial benefits and make its citizens richer.
The bet was successful for US corporations.
“If I had chosen gold instead of bitcoin when I bought it, we probably would have around $250 million in gold.” Our shareholders would have missed out $4 or $5 billion.” -MicroStrategy CEO Michael Saylor, at the Bloomberg Intelligence conference at Bitcoin 2022 Conference.
Which state will go first?
Which one will be first?
Because they are so invested into the federal reserve financial system, it’s unlikely that people like New York or other mid-Atlantic countries will. California has a mix of establishmentarian and tech innovation openness. California’s residents and businesses are more likely than the government to adopt.
Florida could be that state, with an eye on surpassing its larger states in financial dominance. Miami’s mayor would have it that way. Other smaller states in the south, such as Alabama, Mississippi and Kentucky, would be able to run further from their current economic position, which might give them a greater incentive for joining the Bitcoin race.
Given their history of distrust in centralization of power in the federal government and their dislike for it, on the basis regionalism and a doctrine that states have sovereignty, they would be likely to adopt official Bitcoin.
There are places in the United States where it would be sensible to push for policies that encourage and facilitate Bitcoin adoption.
Nevada would find numerous uses for cryptocurrency to be beneficial for its unique economy. Jared Polis (a former US Congressman) is a pro-crypto governor in Colorado. He has led efforts to encourage bitcoin flow to the Centennial State.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.