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assuming bitcoin were the main currency, then, as soon as political pressure grew strong enough to demand real monetary flexibility, (e.g. to track a business c
by HillaryBriss 9y ago
assuming bitcoin were the main currency, then, as soon as political pressure grew strong enough to demand real monetary flexibility, (e.g. to track a business cycle and reduce unemployment, or to fight a deflationary spiral) someone (in government) would start innovating.
that innovation could mean replacing bitcoin with another currency through forceful governmental intervention of some kind. or it might mean modifying (i.e. distorting/destroying) bitcoin's current protocols or algos. bitcoin is in its early stages, but so are governmental efforts to regulate it.
- TheGrassyKnoll 9y ago> bitcoin is in its early stages, but so are governmental efforts to regulate it. And so are government efforts to compete with it. I think that eventually, the Treasury Dept. will see so much convenience in crypto currency(s), they will issue their own coin, the only 'legal' tender in the land.