Quote Originally Posted by Adam Strange View Post

If Bitcoin ever threatened the value of the dollar, it would be eliminated. The US depends on printing dollars freely to maintain its position, and it really isn't going to let something like a cryptocurrency challenge that.


So, the US government can be counted on to oppose it. Why hasn't it done anything yet?

My guess is that the powers that be have seen that Bitcoin is an entertainment for nerds, and not a threat at all.
They can't do anything to stop outside of outlawing its use/purchase/exchange - but how do you control that? Same as in trying to control illegal downloads, not much could be done except arrest a few people "to set an example", which are basically politcal prisoners.

I like crypto because it does pose a threat to the gridlock that the finance industry has. I watched a documentary on Arte about HSBC. After watching it, I concluded that investment banks are basically untouchable, and if you're concerned about vast wealth concentrations, that should alarm you. I wish I remembered the actual reference to the documentary though, I'll send it to you if ever I find it.

I don't think anything can stop governments from investing in Bitcoin. In fact, at some point they will have to deal with it somehow. The Chicago stock exchange allows transactions in Bitcoin since a few years now. I see crypto as a threat to the finance sector, as well as to government, but not an existential threat. It will simply force them to remodel their priorities, and that's something alot of people want nowadays.

Quote Originally Posted by Adam Strange
Same as in a Ponzi scheme
No, lol. A Ponzi scheme is centralized, and planned out, and crypto is neither of these things.