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Sure but you must be very wary that this all may be temporary. Your government may decide to crack down on crypto, making it difficult to convert to your local
by d--b 5y ago
Sure but you must be very wary that this all may be temporary.
Your government may decide to crack down on crypto, making it difficult to convert to your local currency (as many countries do with USD).
The crypto world in the US may very well be a bubble that will burst at some point.
- can16358p 5y agoSure, it might be temporary, but it makes government's job much more difficult as opposed to traditional centralized systems. And as web3 progresses, the line between the Internet and cryptocurrencies will blur even more, making it hard to define laws around crypto without banning access to the Internet in the first place, which will make their job even harder, which is good in terms of taking power back from authoritarian goverments.
- chrisco255 5y agoThe whole financial sector in the U.S. is a bubble that will burst at some point. Have already lived through one of those just 14 years ago. And now we're getting elevated inflation, multiple international currencies experiencing hyperinflation, etc. Crypto is at least transparent and fully auditable. Loans stay solvent as they are over collateralized and automatically liquidated when they become close to under collateralization. As a result, the crypto space has and will go through many mini bubbles that resolve themselves very quickly. Crypto and blockchain are fundamentally transformative technologies. The U.S. government will make moves to co-opt it, via stable coin regulation, but they won't be able to fully control the space. It is truly international in scope, and runs on math and cryptography. They can scarcely ban seed phrases, or blockchain in general, as it is fundamentally a form of speech.