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No country is recognising them as actual currencies, because once you do it, that opens a whole lot of other issues for the country, suddenly they could lose co
by realusername 7y ago
No country is recognising them as actual currencies, because once you do it, that opens a whole lot of other issues for the country, suddenly they could lose control on their money supply and that's a potential threat to their sovereignty. It's much easier and safer to consider them as assets.
- logicchains 7y agoThat's simply not true; Bitcoin is recognised as a currency in Australia and Japan for instance. Banning cryptocurrency doesn't prevent a country from losing monetary sovereignty; people could still just switch to another national currency, like US dollars. This actually happened in Zimbabwe and Venezuela.
- elp 7y agoIf they had ever approached even the slightest level of acceptance of gold they would have been okay as assets. Now its more like betting at the track. Except that the track is probably more regulated and insiders are less crooked.
- realusername 7y agoFor now I agree, right now it's pure gambling. However it's still pretty early to say what will happen in the future about the cryptocurrencies.