Post
Topic
Board Bitcoin Discussion
Re: Bitcoin and governments
by
Jully Bells
on 01/10/2017, 02:29:09 UTC
That's when cryptocurrencies will begin breaking the monopolies of governments to collect seigniorage income—the acquisition of commodities and assets by printing money.  Sadly for Bitcoin enthusiasts, the day Bitcoin replaces national currencies will never come. Big governments have the power to crush Bitcoin before Bitcoin crushes them. But things may change once cryptocurrencies gain greater acceptance by the "early majority," a larger group of individuals that turns the small demand for these currencies into a cascade, replacing national currencies as a medium of exchange and store of value. Still, the digital currency won't disappear. The technology behind it is far too powerful to be controlled by big government. Bitcoin will return back to its old role: a collectible currency for tech savvy enthusiasts.