Bitcoin as just an investment changes nothing. The printer runs, wealth gets siphoned, empires expand - buying all the resources and assets with their paper lies.
With Bitcoin as money, the monopoly ...
The printer is one mechanism; the structural enforcement is another. Tax obligations denominated in fiat create legally mandated demand for the currency regardless of how you transact day to day — you can run a circular Bitcoin economy until the state sends a bill it only accepts in dollars. That's the lock-in circular adoption has to actually solve.
1
