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I don't think the crypto crowd really get what sovereignty enables governments to do. Crypto monies presents an threat to central banks. I wouldn't say an exis
by gonzo41 6y ago
I don't think the crypto crowd really get what sovereignty enables governments to do.
Crypto monies presents an threat to central banks. I wouldn't say an existential level of threat. But probably large enough for the established players to be a little less than civilized in their response. Crytpo may get crushed by tax law, or other regulations that the people in the real world are accountable to. Or more likely bankers knowing how to make a buck, will Embrace, Extend, Extinguish the currencies in their current form and all the feel good anarchist vibes of crypto will be replaced by another system that has built in inequality.
- xiphias2 6y ago,,I don't think the crypto crowd really get what sovereignty enables governments to do. '' Of course they do. At least the ones who put their whole life on it, like Dr Adam Back who was risking getting into prison for ,,exporting classified munitions'' on a T-shirt (https://en.wikipedia.org/wiki/Adam_Back#Cryptography_software https://en.wikipedia.org/wiki/Adam_Back#Cryptography_softwar...). Also the risk to central banks is real, and the change will be huge. People still underestimate how hard the 21 million Bitcoin limit is, and how hard it will be to own 1 Bitcoin in the future (it's just possible for 1 in 400 people in theory, but in practice it will much harder than getting in the 99.9% percentile). Coinbase is not part of this crowd though, they just want to push altcoins so that they can make money from day traders.
- crtasm 6y agoI don't understand what you think the significance is of owning 1 bitcoin? You can deal with tiny fractions just fine.