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Bitcoin is only useful if you can turn it into fiat relatively easily. Government can very easily control almost all of those channels.
by missedthecue 6y ago
Bitcoin is only useful if you can turn it into fiat relatively easily.
Government can very easily control almost all of those channels.
- chii 6y agoin the world where you have heavy capital control, enough to warrant using crypto to escape, the fiat will be worthless to you (hence the capital control!), and thus, others will be willing to accept your crypto instead of fiat!
- thebean11 6y agoPresumably you'd be going into a country that is not attempting to control those channels though
- emodendroket 6y agoSo, assuming the USG is serious about this, you're probably looking at China, Iran, Russia, Venezuela, or North Korea. Color me skeptical that the captains of industry are headed there.
- randomopining 6y agoCan you not just go p2p/otc with the crypto and buy a hard asset plus some paper fiat? It’s like cash but even more effective for this purpose.