Though I know somehow where politicians and bureaucrats are coming from, but still I have difficulty understanding their kind. Their passion for central control does not stop to amaze me. How I wish that in time their breed would decrease or go extinct if that would be possible. They swear an oath in public office to serve not their personal interests, but the people’s welfare, and in crypto currency, people have something that concretely demonstrates this talk about “inclusive” economy, and yet they see it as destabilizing the already unstable economic system based on fiat money. Can something stable such as crypto currency or stable coins really destabilize a system that is already unstable? Is it not more proper to think that stable coins would supply the needed stability in a very unreliable global economy that we have?
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It is all about power and power comes from centralization.
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Yes, and their talk of returning power back to the people is either just a mere political rhetoric or they want people to follow their footsteps in acquiring a bigger share from the public coffer. However, if such empowerment would imply a concrete implementation as what's happening in the crypto world, they don't see it as empowerment, but a threat. I am just having difficulty to understand why most people that we know personally still believe in such illusory promises.