2018 when governments, hedge funds and the big institution will finally wake up to cryptocurrencies.
Be careful what you wish for ;)
As a preview check this guy's post
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2018 when governments, hedge funds and the big institution will finally wake up to cryptocurrencies.
Be careful what you wish for ;)
As a preview check this guy's post
I totally agree. While I am absolutely bullish on BTC, I think it would be wise to be prepared for a backlash, especially from governments, who like being in control.
Being from India, the link to the other post is pretty relevant.
I feel for Indian people,
with the current government, it is like they are embarking on the grand experiment to take away all the fiat/ crypto money out and therefore people's choice.
That fiat reform to streamline benefits reimbursement system, also means that if they want they can impose negative interest rates (meaning another way to tax you if they wish) on your money (since they are all in the bank), which they could not do if you stash it under your mattress.
and now crypto...
While you are right in your assessmeet, no Indian government will survive if they drastically cut interest rates (currently 6/6.5%). Besides, most Indians are quite good at finding ways around arbitrary controls imposed by the government.
Sure,
for now - it is a far fetched idea (after all they are running the deficit being financed from the outside) but But I think we both agree that having a mechanism in place moves it from the realm of outright impossible to probable.
Besides those rates being like 10-11% not that long ago if I recall correctly.
Yes, you are absolutely right. Though, the real rate of interest is marginally better now ( the inflation rate was a lot higher then)
Please explain:)..... you know it's too late to stop the revolution now and who will not be in will be left behind... the new capital will start flooding the market in ten of billions USD a month... Just my humble opinion:)
Sure)
Well, let's image you spend awful time building your little playground for your and neighbor kids. It works like a charm, sure with some issues like unprivileged being frequently left out, but overall it is acceptable to to them. Then one day some foreigners are coming over and start occupying your cherished playground, while at the same time bullying your neighbors kids. You taking pride of what you have built would not be too happy about it, would you?
Imho average governments with raise of BTC feel threatened by giving up some of the control of the playground. And knee jerk reaction would be to ban it - out of system out of sight.
Smart governments (like imho USA) would express solidarity with others, while leaving enough backchannels for crypto to find its way back into the system.
The problem is we don't have enough of those)
As for hedgies - they are of course agnostic, but for them it is business. the ICO rush we witness? Was 8 out of 10 times promoted by hedgies backing, read paid ads crowding out the little guys.
As a result the crypto perspective is changing. Deep pockets coming in means we public as a whole are playing less of a role in directing the crypto development (read giving up the control), but also have an opportunity to coattail / ride the waves of next ICOs on the back of hedgies effort. Current example - BTC steady rise.
But it would also mean we should be very nimble as change in mood of those guys would mean for some alts a sharp rise or a fall. By contrast back in 2013 just about any coin was getting some attention.
So imho we are for more of a roller coaster ride with increasing stakes. Which should be fun)