[lasagnaphil]

I agree with your criticism on the current petrodollar system, but I still don't understand how Bitcoin could replace it. I've yet to see a crypto enthusiast who seems to really think about the implications about world trade purely done in Bitcoin. And the "there was the gold standard back then, it's going to be similar" argument doesn't work, it has historically ended in total disaster and countries which abandoned the system sooner has recovered from the Great Depression more quickly. Right now a Bancor system that's designed to balance imports and exports between countries seems like the more convincing route to achieve peace while continuing global trade. Any ideas?

[logicchains]

>And the "there was the gold standard back then, it's going to be similar" argument doesn't work, it has historically ended in total disaster and countries which abandoned the system sooner has recovered from the Great Depression more quickly.

Historically prior to the 1900s pretty much everywhere was on a gold or silver standard of some sort.