I dont think governments will be able to keep up. They are fighting amongst themselves in terms of currency controls, taxation, manipulating rates to entice investment in their economies. Businesses see the risk and are starting to take decentralized digital currencies more seriously every week. They might be dipping a toe in at first, buying some as a hedge against currencies. But it wont be long before we see a big B2B deal done with cryptos as a component of the exchange.
RE: Question to you: Will governments and big banks beat down Bitcoin in a similar way they have been manipulating down Gold and Silver?
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Question to you: Will governments and big banks beat down Bitcoin in a similar way they have been manipulating down Gold and Silver?
You bring a good point, big deals will soon be made in cryptos... It would be interesting to see oil bought in cryptos... Interesting times...
Also, many governments have legalized Bitcoin, for example... https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
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Venezuela is trying to make the crypto work for oil.... if OPEC did this as an organized move, then it'd probably work (and send the USD into a death spiral).... but not when only one nation who has zero credibility in terms of finances.
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On OPEC, I fully agree, time will tell. On Venezuela, I also agree, good luck to Maduro. I am not planning to buy any "Petro"
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