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It makes them economically dependent. Explicit rather than implicit client states of the US. Colonies in all but name. When President Arnulfo Arias tried exerc
by omegaworks 6y ago
It makes them economically dependent. Explicit rather than implicit client states of the US. Colonies in all but name.
When President Arnulfo Arias tried exercising his nation's right to issue sovereign currency, he was deposed in a US-backed coup on October 2, 1941.
- MrMan 6y agoSwitching from one currency you can’t control to another doesn’t sound good
- omegaworks 6y agoExactly. The Bitcoin folks like to point to a "shadow cabal" that controls US currency as though that same problem doesn't exist in Bitcoin's architecture. At least we know the names of everyone serving on the Federal Reserve's board. Bitcoin, on the other hand, can be controlled by any miner or group of miners having over 50% of the network's hash rate[1]. We don't know the identities of the miners and we have seen them engage in political actions that change the behavior of the currency[2]. 1. https://www.investopedia.com/terms/1/51-attack.asp https://www.investopedia.com/terms/1/51-attack.asp 2. https://en.wikipedia.org/wiki/List_of_bitcoin_forks https://en.wikipedia.org/wiki/List_of_bitcoin_forks