4 ms·
Crypto simply levels the playing field for people in all types of economies. Many countries force you into using the national currency. Often they create arti
by bitreality 9y ago
Crypto simply levels the playing field for people in all types of economies. Many countries force you into using the national currency. Often they create artificial exchange rates which do not match up with market rates (Argentina, Venezuela).
Other countries impose capital controls which force their populations to hold devaluing currencies or restrict how they can spend their money. Think India, China. No surprise that China is one of the world leaders in Crypto right now.
Currency is used as a form of control by governments. It is never in control of the people. Look at what happened in Cyprus, and what almost spread across Europe. Banks went bankrupt, people's hard earned money was taken away, simply due to mismanagement at the highest levels.
Properly used cryptocurrency cannot just be taken away. You are in control of your money. Your government does not control its value. Bitcoin as an entity cannot take out loans which its holders are on the hook to repay. Governments can't freeze your wallet with the flick of a switch.
Money is power, and when people are in complete control of their own money, they take back some of the power that has been consistently taken away from them.
- coldtea 9y ago>Crypto simply levels the playing field for people in all types of economies. Many countries force you into using the national currency. And how would you bypass that with cryprocurrency, except by breaking your country's law? Just because it's a grey area now doesn't mean it will be forever.