RE: Cryptocurrency: The Great Rejection
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hope so, but I see huge resistance from (trans)national institutions. If they want, they can make all crypto related things illegal and then the majority won't be using this system anymore... (see e.g. India) That is a huge problem.
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It seems each time a country makes it illegal, usage increases. Prohibition showed itself to be a poor deterrent throughout history. Yet they still try to do it.
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that's a good argument; the only problem obviously is that they can definitely control/stop the fiat/crypto bridge. A solution to this could of course be to leave fiat completely behind. But will then businesses be cracked down for using cryptos as payment options etc.?
Yes but since crypto can be generated outside the borders they establish it can still outgrow them such that they have to remove those borders for the sake of their own continued survival. I think in this case they'll eventually build the wall around their city that enables the rest of us to lay siege to them.
good point. But as a citizen you are then again prone to prosecution under its laws. So I guess anonymity is king?
In some cases but prosecutions take time and resources that are already hemorrhaging away. It seems unlikely that would be a viable option long term I think.
A good example is people in Venezuela want crypto, they hate fiat.
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That is true. They do own the crypto to fiat bridge. That is why we need to keep pushing and expanding. The more value that is built here, the more people drawn in, the harder it is for them to control.
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