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The huge risk that I see with Bitcoin is the introduction of capital controls. The United States, if we have a crisis may not allow capital flight. It could mov
by justinzollars 6y ago
The huge risk that I see with Bitcoin is the introduction of capital controls. The United States, if we have a crisis may not allow capital flight. It could move against companies such as coinbase, that provide a means to move capital out of the country. These ideas are already being discussed with limits on how much and to whom you may send bitcoin to from coinbase.
- thinkmassive 6y agoThat sounds like more of a risk with Bitcoin IOUs that are held on central exchanges, rather than with Bitcoin itself. "not your keys, not your coins"
- rebelos 6y agoI think a lot of people very fond of crypto for its more anarchist features overestimate the mainstream's willingness to break from "the system". If regulations come down on exchanges or the crypto space more broadly, it will send prices into a catastrophic downward spiral. This is likely to happen earliest in vulnerable developing nations like Venezuela.