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>I think most of finance has accepted that cryto currencies are the future, it just won't be bitcoin or Etherium but rather a currency for each country/region j

by josu 9y ago

>I think most of finance has accepted that cryto currencies are the future, it just won't be bitcoin or Etherium but rather a currency for each country/region just like fiat currencies we currently have. We don't know what the future will bring. But each country with its own cryptocurrency doesn't look like an equilibrium to me. I don't think that advance economies will ever fully outlaw bitcoin, so if it, in fact, becomes a store of value, developing economies will eventually adopt it, even if it's behind their government's back.

ashraymalhotra 9y ago
Could you please explain why will the advance economies never fully outlaw it? As far as I can understand, till bitcoin is a niche miniscule part of the economy, they might not care. But if it starts to become mainstream, I don't see how being developed or undeveloped would make a difference? All governments want to have control over the currency...
- josu 9y ago
  Due to the fact that most advance economies are also advance democracies. I agree with your point, that government's will certainly try to regulate it but I don't think they will outlaw it. They may regulate it enough, so it never becomes a medium of exchange, and therefore it doesn't turn into a threat to sovereign currencies. But I don't think they will fully outlaw it, since there is no reason to restrict the options that citizens have to invest in. If people can invest in wood or orange juice futures, there is no reason, not to allow them to invest in cryptocurrencies.
  - ska 9y ago
    Governments don't outlaw all speculation (which is what cryptocurrencies currently are), or for that matter actual investments for the most part. They regulate them to ensure that mostly people aren't being robbed blind, and they want their cut (i.e. taxes). So long as you aren't hoping to use them as a tax fraud scheme I don't see why you would expect the government to want to shut it down. If you do hope to use it as a tax fraud or the like, you're likely in for an unpleasant time once the slow-but-steady process starts to focus on that.
CodeCube 9y ago
With decentralized and automatic currency exchanges, a large number of cryptocurrencies that you can easily exchange is no problem at all. The more the better :)

by josu 9y ago

ashraymalhotra 9y ago

Could you please explain why will the advance economies never fully outlaw it? As far as I can understand, till bitcoin is a niche miniscule part of the economy, they might not care. But if it starts to become mainstream, I don't see how being developed or undeveloped would make a difference? All governments want to have control over the currency...

josu 9y ago
Due to the fact that most advance economies are also advance democracies. I agree with your point, that government's will certainly try to regulate it but I don't think they will outlaw it. They may regulate it enough, so it never becomes a medium of exchange, and therefore it doesn't turn into a threat to sovereign currencies. But I don't think they will fully outlaw it, since there is no reason to restrict the options that citizens have to invest in. If people can invest in wood or orange juice futures, there is no reason, not to allow them to invest in cryptocurrencies.
- ska 9y ago
  Governments don't outlaw all speculation (which is what cryptocurrencies currently are), or for that matter actual investments for the most part. They regulate them to ensure that mostly people aren't being robbed blind, and they want their cut (i.e. taxes). So long as you aren't hoping to use them as a tax fraud scheme I don't see why you would expect the government to want to shut it down. If you do hope to use it as a tax fraud or the like, you're likely in for an unpleasant time once the slow-but-steady process starts to focus on that.

CodeCube 9y ago

With decentralized and automatic currency exchanges, a large number of cryptocurrencies that you can easily exchange is no problem at all. The more the better :)