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RE: Understanding Blockchain Freedom — Episode 004: Get Your Bitcoin Off of Coinbase
But in reality, a country not embracing BTC at this time is akin to saying we don't want U.S. Dollars as the world currency so were not going to accept dollars. Pure stupid.
It is pure stupid, by that's what governments do: protect monopolies with violent force. They would (will?) become largely irrelevant if they no longer had a monopoly on currency creation. The USD world reserve currency status is largely in place because of history (there have been many before us, Bretton Woods agreement, Nixon Shock, etc, etc) and because the US bombs and overthrows countries which get out of line. It's probably why our military budget is so insane. Team world police and all that. So sad.
Look at Russia, Iran, North Korea. China wants to. The dollar is back off of oil. Oil is backed off the dollar. The dollar is backed off oil.... see where im getting at... it is backed by nothing at all