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RE: Cryptocurrency Is A Bubble (please let me know what you think?)

in #cryptocurrency8 years ago (edited)

I don't doubt that many central authorities will do everything in their power to avoid a situation where bitcoin becomes a "competitive" alternative to their fiat currency. I've read several things where governments have already tried to take counter-steps toward crypto (and by read I mean the headlines)...but that's the beauty of this whole process. Bitcoin can't be stopped by a central government, unless that government were to purchase every bitcoin in existence, and then no longer allow for trade. Doubtful.

But Pandora's Box has been opened. The central authorities can not shut down bitcoin at any point, because there is no central authority to shut down. It is decentralized. It is everywhere and nowhere! Like trying to catch a greased pig! You can outlaw a currency, but it will still have many uses if so, and that many only further demand in some regards.
And the USD definitely has to inflate to survive...which means that one of it's fundamental, inherent properties is that of "losing value"....not a good property to have when your sole job is to be a "container of value"....the USD does a horrible job of containing value. A container with a bunch of holes in it!