RE: Bitcoin Millionaires on the rise and less and less Bitcoin is being sent to Exchanges

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I'm kind of hoping Monero ends up overtaking Bitcoin eventually, it has more utility and actually threatens bank and government control.



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(Edited)

I think that last part you said is why it will never be allowed to overtake bitcoin... Unfortunately governments have armies and jails. They are only letting bitcoin grow up like they are because they realized early on that bitcoin wasn't a threat to their sovereignty. It's simply an investment like gold. If it ever threatens their sovereignty we are going to see an all out war on it, hopefully at that point it will be so entrenched that they can't win.

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The thing is, technology has always won. People with power have never managed to stop progress, only delay it. Monero plans on adding some new tech in the future that would make it near impossible to block, and would allow it to operate outside of the existing internet.

Once Monero adds that, the only way to stifle its usage would be to destroy a huge chunk of the internet, and doing so would be economic and political suicide so it won't happen. Russia already suffered huge consequences when they tried to block Telegram, and Telegram wasn't even making use of such decentralising tech. The only country that could viably block such tech is China and even then it wouldn't come without a loss.

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We will see. I just know that anything that enables money laundering and tax evasion meets a ton of resistance from every government in the world, and they are very powerful.

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They are terrified of Monero but ultimately Monero is only the same thing as cash so they must be pretty terrified of cash too, the only difference being one they issue the other dont. I think because Monero is such a threat and such a big deal in the grand scheme of things is exactly why it will blow up sooner or later and make enough noise and bring enough attention to itself that things come to a climax both in price and push turning to shove.

Posted Using LeoFinance Beta

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Yep, that's exactly right. I think they are terrified of cash. I would not be surprised if cash is outlawed within the next decade...

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