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RE: Volatility Is A Part Of Crypto: Get Use To It

in Threespeak3 months ago

Yeah people should not go in with the expectation that crypto and stocks have the same behaviours. I also agree that the price of BTC is going to be higher in 5 years if something drastic happens, like goverments try to take it down.

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My supposition is that is governments tried to take it down, it would only make it even more desired.

Besides, there is no way all governments are going to agree about crypto.

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Also, I don't totally understand why Western governments would want to even kill crypto. The crypto phenomenon is a great source of tax revenue. If fiat is to fail, it will do so completely on its own accord regardless of what crypto does. Crypto being used for crime is mostly just a talking point. Whatever criminality crypto is used for is dwarfed by what off-shore accounts, shell companies, tax havens and even regular banks are used for. Large banks get caught and are fined for enabling money laundering left, right and center.

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That is all true but it comes down to control. That is the idea behind CBDCs. It isn't the central banks that are most interested but the governments. Then they can access any account and take their taxes. It also gives them the power to instantly close accounts.

If crypto is a threat to their power, that is what they are concerned about. Taxing crypto is a nice bonus but they really dont care since they will run up whatever deficits they have to without a second thought.

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