Let's cut the bullshit, the government can screw cryptos in 5 minutes, if they wanted to. Simply outlaw it so no retailers can't accept it as currency, there you go money of the future. But they decided that at the current form cryptos are NOT a competition to the US dollar, since nobody is using them as money. So it simply became another asset class, like beanie babies and baseball cards. Not to mention since most cryptos (specially bitcoin) are NOT anonymous, it is rather easy to follow the "money" and catch criminals, if they wish to do so. TL;DR: don't invest in Santiago Capital, they are idiots.
People don't have to buy with cryptos, they can just convert them into dollars using BTC as crypto cash.
I assume you're talking about the US government? Let's assume it did ban BTC outright. But Europe and the Far Eastern countries didn't. They elected to work with it. Assume also that Bitcoin doesn't go away, it's decade of growth and acceptability continues. The US is going to look pretty stupid and I know politicians aren't that clever but they're not that stupid. Governments must learn to live and work with Bitcoin. It's the only way forward.
Went through Santiago's tweets. Can't understand who da hell he is. US Gov could if it wanted to : timestamped For those who can't understand of how this would effect the untouchable BTC - that garbage would be dropped so fast & in such amounts, that it would become as negative as that saudi oil. Even the most loyal of the fans would be - ,,oh crap, time to go'' So why don't they do it : Watch the whole video. The enemy of my enemy is my friend : (bit contradicting tho, since the C.Munger is 1/3 of his net in China and R.Dalio is basically, butlicking that regime. As open minded as i am, sorry Ray, can't support you, if you support the regime, which keeps 1.3M people in modern concentration camps & there isn't much to say about the Tibet neither)
Yes, because that was in the title. Like that ever stopped them... ------------------------------------- Now just a mental exercise, let's say, I am put in charge by the government to screw with cryptos. I wouldn't even ban it outright, but: 1. I would crack down on exchanges, like tether would be gone. The effect of tether gone is possible a crypto value collapse. 2. Using the government's infinite money resources, I would just pump and dump cryptos until everyone is dizzy of the roller coaster ride. Up to 20K, down to 3K, rinse and repeat. A volatile currency is a bad currency, mind you pretty much nobody is using them as currency anymore. 3. I could introduce government backed cryptos, even with better features than bitcoin. Yes, bitcoin sucks as a crypto, there are way better ones out there. 4. etc.etc. TL;DR: The government can fuck with you in so many ways....stop daydreaming about your obsolete beenie baby.
owning or buying bitcoin means supporting the chinese communist party regime. understand how mining works first, why would you rather not bet on elon? $10k eoy