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RE: The Fate and Future of Bitcoin: The Bankster’s Battle for Control
It doesn't matter who created or controls BTC. All that matters is that it is chipping away at the foundation of the bankster's global fiat banking system. Anything that does damage to that system or weakens it is a boon for liberty's cause. I really don't care who created BTC. All that matters is that the current control system is being destroyed.
What we need to guard against is making sure that the current control system is not replaced with a worse one. As long as the Internet exists as it does now, we do not have to worry about that outcome either. The system as we know it is imploding. What is coming will be painful, but it is needed. It is our medicine whether we like the taste of it or not.
but I am concerned about what the govts and banks are going to do... if they stop conversion to fiat and withdrawal to bank accounts, how will all this crypto money be spent?
That is exactly my warning. The government, the banks, control the conversion of crypto to fiat. They can and will shut that down.
There is a certain irony that we have to convert to fiat to use crytocurrency. This is the way it is now but as more people trade goods and services for crypto it will make fiat obsolete.
Yes, step one is done. The next step is making the current banking payment systems obsolete by walking away from them. Once some more big time merchants support full crypto exchanges without converting it to USD, things will get more and more interesting.
that makes all of this a huge huge bubble. I'm not saying it's a bubble. I'm just concerned about what the government is going to do
People will use cash to buy from a willing seller. Then finally money is no more relevant. People transfer cryptocurrency amongst each other. They don't even use cash.
My point is that most real world stuff is not yet available for sale using crypto, I am not saying this will remain as it is always but we don't exactly know when such a day will come. If regulations play spoilsport, then it will definitely become an issue in largescale crypto adoption
Upvoted to get past the bots. /bow
Lol