Well, 25 years ago, I said of the internet...
'this will be the biggest change to society since the invention of wheel...'
On crypto's...
this will either be the abolishment of cash, and a new world government, and the end of freedom.
or/
this will be the beginning of the end of government as we know them, and money as we know it. Giving everyone more freedom than ever before...
I prefer the latter, but know how evil the gvmnt are, and how much they will do to maintain the power grip...
They are more committed to totalitarianism, than we are to freedom, it seems to me. (imo)
This is not about right or wrong, just winners, losers, and who wants their system most.
Seems to me a lot of people are worried that governments will come in and intervene with cryptos and try to outlaw them... I don't really see that happening. I think it far more likely that governments will issue their own "coins" and try to persuade the markets that government coins are somehow better/safer than the independently created ones... and some people will believe that, and some will not.
It's hard to say how things will change, though... but I expect it will be a pretty gradual process, rather than a sudden one. Cryptos just passed $250bn in market cap... suggesting to me that the time for government intervention/prohibition has already come and gone.
..........He called Congress into an emergency session on March 5, 1933, less than 1 day after his inauguration.
"An Act To Provide Relief In The Existing National Emergency In Banking, And For Other Purposes"
...Order 6260 revoked and superceded 6102. These laws in short order made it illegal (a federal crime with outrageous penalties of a $10,000 fine and/or 10 years imprisonment) for any law-abiding US citizen seeking to protect his wealth
Crypto is a million time easier to control, and take control of, than any gold coins under your mattress.....
Argentina. October, 2008.
The government of Argentina moved private pension funds into the government social security system. Government seizes over $30 billion in private pension funds.
...bail ins in cyprus, more bailins due (and the dropping of saver protection laws, just put forward this last week)
Historically speaking, government have a shite record in upholding morals and ethics...
I don't see why new technology makes this repeating cycle of screwing the people, will be different this time around.
To_ NOT_ do it, would be the anomaly in previous behavior patterns...
To not do it, would be the banking system holding up a white flag, and giving up all its power it has held over 'us'.for the last 200 years, at least.
You see why I am a bit skeptical...?
Just sayin'
White flag? Or simply a case of greedy opportunism? The "we can just issue our own" might be seen as more profitable/less expensive than trying to block an "it" that has no central location you can move against. The US Goverment could ban BTC to their heart's content, but people would still buy it from non-US exchanges and still hold it.
But I can appreciate your skepticism.
the problem with the 'greedy opportunism/issue there own crypto' paradigm, is that it will still lead to decentralized money, ergo a loss of power.
Controlling the money has nothing to do with money. All to do with control.
If the masses get it into the their 'collective psyche heads 'that we don't need centralized governments money, then they will still - ultimately- lose the control they crave.
(a psychological perspective, not money one)
government is slow, stupid and insane.
it's like an elephant trying to catch coachroaches.
comparing government to an elephant has to be the most insulting analogy I have ever heard !
to the elephant?