Posted on 05/03/2018 8:49:18 AM PDT by rktman
Is it a good time to buy up their currency? Not much to lose.
I guess Zimbabwe will be considered to be paradise Venezuelans... I guess Zimbabwe got their hyperinflation under control...
Late reply. The currency you describe exist. But way back gold fit the same description except digital. The US government simply made it illegal to own gold or require its use in a transaction.
The government can do the same thing with crypto. Destroying stored value or a medium of exchange is a progressive/Dem/socialist specialty.
Tech will not solve the issue of wealth confiscation or destruction. Just as it has not solved repression of speech.
Thank you for the response.
I think you are wrong with crypto. You cannot ban Bitcoin, unlike gold, unless you ban the internet.
Countries can ban mining or exchanges, but they cannot ban a totally decentralized crypto, and all the exchanges that can happen between anyone who has a bitcoin wallet.
That is the threat. (the white paper on BTC was an eye opener for me several years ago, and I suggest reviewing it to anyone who has not read it)
And they cannot stop it unless they go totally over the top controlling, against everything that the internet has done to improve life in the last two decades.
We will see...
It is like Levi jeans in the 1980s in the Soviet Union.
Even the Marxists in power cannot stop the freedom of a totally decentralized currency...
Even in China.
Even where it is illegal.
It IS the black market in the totalitarian’s nightmare, and it will bring down socialism in the most socialist countries.
Yes it can be used for drug dealers, and criminal activities, but it can also bring down the big government, tyrannical marxists while simultaneously exposing their extreme totalitarian policies in the process...
“ And they cannot stop it unless they go totally over the top controlling, against everything that the internet has done to improve life in the last two decade.”
You made my point much better than I did. Criminalizing the possession and use of gold was over the top. It is really quite simple. The US government will simply ban the ownership of crypto and make it illegal to require its use as a medium of exchange.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.