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I think (or perhaps predict?) that Bitcoin will require I higher level of sophistication to control, if for no other reason than it is new. Not to mention that
by tolmasky 14y ago
I think (or perhaps predict?) that Bitcoin will require I higher level of sophistication to control, if for no other reason than it is new. Not to mention that the countries we are talking about in these scenarios are probably less sophisticated in these matters to begin with, coupled with the fact that there are no central authorities to deal with when it comes to Bitcoin. Argentina can't just go to the "big Bitcoin banks" and tell them not to accept their citizens' business.
At the end of the day, when a currency becomes worthless people start trading in something else, whether that be USD or cigarettes (like in post-war Germany). The attraction of Bitcoin is that it is basically tailor made for this and additionally is accepted by people outside your country.
Only time will tell of course. My point is simply that it is not just trivially "just another currency" where all the same rules apply. That being said -- it may crash and fail for completely unrelated reasons.