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by digitcatphd 1582 days ago
Unfortunately, I suspect this will continue. There is undoubtedly a place for Crypto, but I would advise those who believe it will replace 'fiat' to take a course in economics or learn the role of the federal reserve and why it was created in the US.

Political views aside, many believe economic policy to be a key pillar of a government and anything threatening this power will be squashed at all costs in countries where this pillar exists.

Where this pillar exists being the key here, which is why we are seeing national adoption in countries that lack it. Despite this, an outright ban is indeed lazy and removes a country from the global Crypto economy.

1 comments

Just take a walk in one of the popular neighborhoods in Istanbul and ask who Jerome Powell is to one of the random people there. They will tell you. Federal Reserve was created for some reason in the past. But, I think we might need something better now.
My argument is not premised on if Crypto creates a superior monetary system or not, but rather any government seeking to protect its most guarded powers will squash it.