John Griswold
1 min readApr 5, 2023

--

Interesting, given that I haven't said a single personal thing about you...unless of course you actually are Bitcoin or the Lightening Network;) I would be better off if I were tall, dark and handsome...I'm not though.

There simply is no reserve asset of fixed supply not controlled by any country; BTC certainly doesn't qualify. BTC's only value is imaginary, totally dependent on the value speculators and holders THINK it has, and while governments may indeed choose to own BTC as a hedge, they are as likely to outlaw mining as any other course.

Just as I am not TDH, there really isn't any prospect for a fixed supply reserve asset, and the logic for wanting one escapes me. If we learn how to do the smart thing and stop global economic growth, reduce population and demand on resources, then reserve assets need to adjust to that new reality, and the same is true if we continue to rely on global economic growth. The prospect that governments will allow an independent fixed asset supply to dominate and become the de-facto reserve currency I think is nil.

--

--

John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

No responses yet