RE: Leo Talk 7/12/21 - Come Join Our Chat

[kevinnag58]

Last interesting article I found until later (have to get some work done):

https://www.publish0x.com/benefits-of-investing-in-cryptocurrency/the-impact-of-cryptocurrencies-on-the-world-economy-xdgnkwj

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Comments

[finguru]

By the time the world central banks launch respective digital currencies, the decentralised freedom that has given cryptocurrency its conceptual purity shall surely be a flag in tatters.

100%. Banks and governments will take enough time to figure this out. In the meanwhile, builders are going to build huge things. The world economy is dying and I think crypto can play a major role in its revival.

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[magnacarta]

It reminds me of what happened with the Mariel Boatlift from Cuba to Florida in the early 1980s:

• For a brief time, Fidel Castro allowed freedom of expression;
• Some people exercised that freedom;
• It was revoked, and those exercising that freedom were tracked;
• Many ended up in prison, and many in prison were set free to travel to Florida.

The Oliver Stone / Al Pacino version of Scarface begins the movie with an explanation better than mine here.

Essentially, governments and central banks are farming out cryptocurrency development to private parties to let them figure out everything first, then the governments and central banks will swoop in to use it for their respective CBDCs. We shouldn't be surprised if in the process cryptocurrencies get banned or outlawed.

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[jfang003]

Well it does seem like the world economic and political situation will be intertwined with crypto for a while. The regulations and CBDCs will probably take years to play out.

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