One of the Bitcoin community's favorite narratives is that of the Bitcoin Nation-State Theory (or game theory of nation-state adoption). What does this mean for a country and how realistic is it? 👀
The final flaw of this theory is that it's. Do states want the Bitcoin network and its blockspace for settlements? Or BTC as an asset like gold? If it's the latter, what's the point if no one else holds the asset and you can never liquidate?entails a lot more than just using the dollar to trade oil. It extends tosettling payments
. BRICS countries are already pursuing such efforts, but it's harder than it looks and takes a lot longer than you think: Put simply, they would be interested in reducing the dominance of the petrodollar. But not at the price of a petroyuan. Or a petrobitcoin. So it's an intricate balance that will take a long time to find an equilibrium.In fact, it does get some things right. For instance, thethrough state-sponsored mining, either through tax breaks or outright subsidies. Do as states do, not as they say.at a massive scale could change the variables.
The game theory is interesting to observe, and you should keep an eye on what moves states are making. But don't expect any of them to ditch the dollar for satoshis any time soon. This article contains links to third-party websites or other content for information purposes only . The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site.
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