If a government is corrupt and or broke, how does it usually behave towards its citizens?
Now what if the government knows it's broke?
What if a government knew it was needing a new debt based system?
Questions would arise; what were the hindrances of the last system in place? Perhaps governments of the world wanted to see how cryptocurrency works in a market of its own. It's no surprise after the year 2008 BTC really starting to proliferate
and operate in the open. Perhaps it really was just a litmess test into how a new currency would work? The best place to start any experiment is to at first remove the controls. The environment of the wild west can test best the organic nature of a new market.
We all know Bitcoin could rise or even fall in the toilet (the dreaded shut off the internet scenario). So what if governments devalue the old money system and then create their own virtual cryptocurrency? It could run side by side with BTC until it can't or isn't allowed anymore.
I know BTC is open code. But that doesn't mean that it can't be controlled (via exchanges as an example) or even tracked. A ledger based system makes it possible to see every transaction a person or institution makes. They could as well limit cash and possibly rid itself of an old corrupt money printing operation (of course to only start a new type of game with even more control). Now don't get me wrong, since the government is corrupt it will assuredly create another debt based market.
How a new crypto government issued currency market will look seems more frightening as it rips off any anonymity.
Totally fiction? Or totally plausible?
BB613
this could be possible but I believe in Bitcoin more than banks.
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perhaps because bitcoin is being tolerated, or examined. The saying goes keep your friends close and your enemies closer :)
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@bramy hell yes!
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so bleak no thank you!
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This post received a 1.3% upvote from @randowhale thanks to @bearbear613! For more information, click here!
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you do make very good points and only time will tell if or not
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Considering we don't really know who created bitcoin, it may very well be plausible IMO. The likes of Jim Rickards believes that there will be a global currency that the International Monetary Fund will run. Could bitcoin be it?
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Very good job dear friend @ bearbear613, congratulations thank you very much for sharing
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Interesting point of view indeed :)
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Good post! Would you mind a little metaphysics added to the question? Did The Right Hand of God create this token; or was it The Left Hand of God? The right hand being the author of all that is true, good, and beautiful; and the left hand in charge of every shitty choice humans make!
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Gd is fully in control and always executes the culminate decisions of mankind.
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I have no problem with that statement unless it is tied to literal interpretations of religious canon which we now know are all myth and historically false as well as being embedded in irrationality and illogical thinking. Any claim to God has to pass these litmus tests....
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The cryptocurrency BTC will do the governments more harm than good. They'd have better chance using ETH against it's citizens if they were to create something.
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Interesting insight but I have to say i couldn't disagree more. With every crash the rich have profited in larger and larger amounts. With every spike in crypto we all get richer or in a crash we all lose. Only the smarter one that understands the nature of any crypto their involved with buys during the crash knowing there will be further/better use of the tech in the near future causing another spike. This is what the richest of the first world have been doing in a debt based system; buy everything when the people panic and sell everything. BTC and crypto is the first time we have the ability to do the same weather or not it was created by the CIA, DEA, NSA, or any scary acronym.
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You are not disagreeing with me in regards to what I wrote. I say that perhaps we are in the "literal" middle of the story where the wild west runs free.
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My bad if I miss understood. Our story is far from the middle we've got a long way to go! I do agree we're in the wild west finally starting to run free ;)
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i like your post, thanks for sharing
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