Coney_Croft on Nostr: Thinking about Bitcoin and World reserve currency. If any world government or power ...

Thinking about Bitcoin and World reserve currency. If any world government or power to claim world reserve status, how could that government ever be trusted to not abuse that status. Do they back there currency with precious metals or even Bitcoin. Can you trust them to not print more currency than they really have. Wasn’t that the problem when the US took us off the gold standard. Was there more currency sloshing around in the world then there was gold to cover it. Even if we backed this world reserve currency with Bitcoin, can we trust the government to not print more Fiat then there is Bitcoin to cover it. Why not just proclaim Bitcoin is the world reserve currency. You can’t print money to buy it. You have to earn it by mining it, or trading some natural resource or service to get it. That’s what a fair for all World currency would look like.