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The inversion of monetary control is the biggest reason my mind boggles that governments haven't clamped down harder. The only explanation I can come up with i
by ethbr0 5y ago
The inversion of monetary control is the biggest reason my mind boggles that governments haven't clamped down harder.
The only explanation I can come up with is that institutional banking / government regulation is so stodgy that they haven't played out the decade+ repercussions.
Because after viable value is established, it's going to be a hard genie to put back in the bottle.
It's much harder to make something that appears to have value, not. Than it is to keep something that appears to not have value, not having value.
- JumpCrisscross 5y ago> institutional banking / government regulation is so stodgy that they haven't played out the decade+ repercussions Crypto is massively profitable. Wall Street hasn't seen margins like these in a long time. There aren't clear and present harms accruing to the electorate. That leaves no incentive, in countries without capital controls, to bother with it.
- ethbr0 5y agoAfaik, the big (US) money was still prohibited from flowing into crypto? Or did leaks spring in that firewall?
- rawtxapp 5y agoI think they haven't taken it seriously in the same way that newspapers didn't take internet seriously and by the time they did, it was way too late.