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RE: The fallacy of measuring success and failure based on price movements

in #steemit8 years ago

Yep, the strength will have to increase over time. Back in '10 Satoshi was fearful that a wikileaks funding campaign with bitcoins would kill bitcoin by attracting wrong attention in such an early stage. Now we are far better off - but still there's a long way to go.

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Well I think it's never, unless the govts actually embrace Bitcoin as their legal tender (unlikely). See, it in general reduces to force, and they are the ones who decide how you can e.g. pay taxes or in most cases wages and services. And paid taxes in many a country trump Bitcoin's market cap several times over, and it appears most countries can afford energy enough to take over the blockchain for long enough to make Bitcoin irrelevant if they only wanted.

Yet they don't seem to want to destroy BTC but acknowledge it instead and are taxing profits (in my country it's legal to trade and profits are taxed like trading securities are AFAIK - I don't trade) made therewith.