Re: [2019-03-21] Blockchains Have Merit, But Cryptocurrencies Won’t Take Over
In any case, this is what the IMF and the World Bank do. They lend 3rd world countries money, so much money that they know it will not have the ability to pay them back. Once this is achieved, they will have full control of that country's policies on governmental and financial matters. They will own that country.
What would occur if that country's citizens begin holding a currency which cannot be controlled? Who will have the last laugh?
What would occur if that country's citizens begin holding a currency which cannot be controlled? Who will have the last laugh?
it's a high risk/high reward bet. bitcoin still has a very binary future---it's probably going to be worth quite a lot (millions of $$) if mass adoption happens, or otherwise very very little (~$0). a government would be foolish to invest everything, but i think those governments/central banks that start building bitcoin reserves first will probably profit the most, and it could certainly have an effect on geopolitical affairs.
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According to IMF economist Antoine Bouveret and assistant director Vikram Haksar, virtual coins do not fulfill basic functions of money, such as being a store of value, means of exchange, and unit of account.
give it 10-20 more years.
