This is another food for thoughts.
The world is ever expanding and there's need for monetary expansion as well. From the look of things, only crypto can be this expansive in nature while still retaining value. Expanding or increasing the supply of Fiats often result in a devaluation of the currency.
Just like you have said, this is another reason why cryptocurrency cannot be eliminated.
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It is impossible to eliminate it. We are seeing things moving too quickly.
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But will the governments ever cease trying to stop the train?
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Of course not. But if the train is running them over, what difference does it make what they do?
In the end, they couldnt stop the Eurodollar system. Now we are seeing the same ledger based banking system being created, just with distributed ledgers instead of non-transparent ones by the bankers.
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The fact is just that they feel threatened knowing that this technology gives power to the citizens.
Shockingly, some government officials are secretly investing in crypto.
Funny sect of people 😆
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Yes that is true. We do see some that are afraid of crypto because it threatens their power.
Of course there is another section that sees the opportunity and how they can be enhanced. Look at Miami, so far $22 million mined with a $5 million payout already.
So the countries that are not in great shape can take advantage as El Salvador is trying to do.
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With this, we can say that the determining factor for every governments decision is the "mindset" each have about the crypto technology.
For places like El-salvador, they see it as a medium for financial growth.
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