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Hah, imagine the dollar crashing and the fed banning crypto. How do you think that will affect the faith in the US dollar? Even worse! Imagine US bans crypto bu
by RealityVoid 5y ago
Hah, imagine the dollar crashing and the fed banning crypto. How do you think that will affect the faith in the US dollar? Even worse! Imagine US bans crypto but other countries go the other way and they lean more on it, and somehow a coin is becoming de facto world reserve currency. Then the US would be left on the outside.
Banning crypto sounds to me like banning gold. Kind of ridiculous. Ask China how that is going.
Regardless, I think crypto is not there yet. It's not mature enough for us to have that runaway effect.
I also do not believe that the US will see _hyper_ inflation. Just ridiculously high inflation.
- throw_m239339 5y ago> Hah, imagine the dollar crashing and the fed banning crypto. How do you think that will affect the faith in the US dollar? Even worse! Imagine US bans crypto but other countries go the other way and they lean more on it, and somehow a coin is becoming de facto world reserve currency. Then the US would be left on the outside. Pretty sure the US government ceased people's gold at some point in the first half of the 20th century.
- RealityVoid 5y agoJust gave it a quick search and you are perfectly right. https://en.m.wikipedia.org/wiki/Executive_Order_6102 https://en.m.wikipedia.org/wiki/Executive_Order_6102 And there is a interesting point on reddit about it: https://www.reddit.com/r/AskHistorians/comments/25wjvv/when_fdr_passed_executive_order_6102_in_1933_were/ https://www.reddit.com/r/AskHistorians/comments/25wjvv/when_... I guess if the US were to ban crypto, it would go down somehow similarly. Not convinced that crypto would drop to 0 though. And the practical challenges of enforcing a crypto ban are... unique.