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I believe people would (and already do) greatly benefit from cryptocurrencies but a) Why would a government/state want to back a currency that it cannot contro
by boramalper 2y ago
I believe people would (and already do) greatly benefit from cryptocurrencies but
a) Why would a government/state want to back a currency that it cannot control by definition? Especially if they own the world’s reserve currency. What’s the upside for them?
b) I doubt that Bitcoin is the answer with its slow transaction times, low throughput, high fees, abysmal privacy and non-fungibility. It enjoys the network effects and undoubtedly that’s the most important thing in a currency so there’s that.