Post
Topic
Board Economics
Re: why bitcoin is banned by the government
by
genset88
on 29/01/2018, 19:54:48 UTC
Quick attempt @ summary:

#1 Wealthiest demographics wield the most powerful political influence.

#2 Wealthiest demographics generally do not want young, hungry, upstarts starting a business in their garage which turns out to be the next apple or google.

#3 Small businesses have the potential to upset the status quo and could dethrone giants in banking, finance and other sectors. This implies those living on the top of the mountain could make some effort to maintain their reign while preventing others from climbing up the mountain after them.

#4 To some extent its in the wealthiest demographics self interest to maintain thire status quo, which implies keeping things like bitcoin which have potential to overthrow banking cartels, in check.


The technology world is proliferating and virtual currencies are booming, so many people think that Bitcoin is the currency that will survive and replace the dollar, I think not only does it replace the dollar That would change other currencies like Eru or sec, in other words, Bitcoin currently lacks in investors, many withdrew from Bitcoin because of the many risks.