What this proves again though, is how people don't actually own what they think they own, and sure while they target the billionaires people clap, there is no lower limit they aren't able to access and under the right circumstances, they will. Essentially, everyone at the moment should be starting to diversify their potential currencies into something safer, with safe not meaning without volatility risk, but in terms of personal ownership and control.
Holding precious metals is great, until you have to run, because while more mobile than real estate, it isn't exactly easy to haul, let alone sneak across borders, if the need arises. Crypto being non-physical however, means that it needn't travel in order to be available, as long as there is a key to access it.
Decentralized personal wealth control is going to be the direction of economic activity in the future and because of it, it is going to meet resistance from governments, as they are used to taking the resources they want from citizens, not competing for it. But, they are going to be fighting an uphill battle, because the more draconian they become, the more people will see the need to move their wealth away from their reach and there will be plenty of corporations willing to help.
Dear @tarazkp , Your idea is excellent! I agree with your argument. However, in the world I live in, I cannot resist the command of the omnipotent and great nation.
All personal and corporate information is under government surveillance. All their transactions, property holdings and communications are being censored.
Individuals and businesses that disobey government laws and orders are subject to fines and conscription.
Anyone like you who recommends the use of cryptocurrency while denying the authority and credibility of the government's fiat currency will be punished for defamation and dissemination of false information.
In the world I live in, all individuals and businesses are being educated to sacrifice everything for the survival and profit of the nation.
If the state finds out that I have told a foreigner like you this, I will be punished.😞
You can - but resistance always comes at a price.
There is a price to this too. Obedience is only useful for so long.
Dear @tarazkp , East Asians have been serving as faithful servants of the state for 2000 years. From my point of view, they have no will and no ability to resist the state. Only they would be willing to become slaves to receive money from a merciful state.
They will be more satiating pigs than free poor philosophers like you.