> competition to usd see  btc would not replace the dollar as a currency. btc might replace the treasury bond as the reserve asset for the dollar-denominated banking system. if banks stopped buying treasury bonds as a reserve asset, the government would not be able to sell enough bonds to service the debt and keep spending as much as it does now. the government would be forced to downsize, hike taxes, and run a budget surplus until the debt shrinks to a manageable size. lockheed would lose contracts, politicians would lose corporate donors, and the cia would be very upset.
United States