View Single Post
Old 02-24-2021 | 03:02 PM
  #93  
DenVa
Line Holder
 
Joined: Aug 2014
Posts: 226
Likes: 1
Default

Originally Posted by DeltaboundRedux
“Whatever happens, we have got, the Maxim gun, and they have not.”

I understand the dream of cryptocurrency and appreciate it. I truly do. But.

There is no way the US or China will cede their national monetary policies to anonymous computer algorithms.

If it gets too big, or too disruptive, they’ll end it. By force. They may issue their own dollar/renminbi crypto, but will come down like the hammer of god on anyone getting caught using anything else.

Just my guess. But I just push buttons for a living.
The problem is Bitcoin is decentralized. If the US and China ban it, then Canada or Switzerland or Bangladesh welcome it. There is even a Bitcoin node in space. They can try to ban its use over US based telecom, but that will just drive it farther towards black market territory. Then they will have lost any control.

It was built with these problems in mind.