Quote from: romeareo on November 22, 2021, 01:03:16 PM

With the rise of Defi's crypto is pretty much detaching itself from the Govt. and it looks like it cannot be stopped. If the govt knew about crypto and its implications years ago they could have stamped it out. Now, it is too late for them.

DeFi crypto can and will be stopped because, unlike Bitcoin, they are extremely centralized. Even government officials clearly understand that: DeFi Not Immune to SEC Oversight, Gensler Says: Report

Quote

The US Govt has a right to be concerned because BTC is acquiring "trust" among the masses.

Bitcoin is acquiring trust because there are no corrupted rulers behind it that can manipulate its supply at will.

Quote

Just like El Salvador, US could also try and capture the entire BTC circulating supply. And, if the US Govt. doesn't then Kremlin or other countries might.

El Salvador didn't capture the entire BTC supply, as far as I know they managed to obtain less than 1000 btc. The US Government can't buy the whole supply either because it is being held by diamond hands who would rather die than sell their bitcoin.

Quote

We never had "One Currency" through out the world. In US $BTC = 1 Canadian $BTC = 1 Nigerian $BTC.

Actually, we once had "One currency". It was gold. Later governments seized people's gold and gave them paper currency in return. Bitcoin is not so easy to confiscate due to its beautiful design.

Quote

So, the US Govt. can easily print out $1 Trillion Dollars which is not really all that much when you compare it to gold and then capture the entire circulating supply and use it as a reserve.

Then they can pretty much make dollar reign in supreme again by backing $BTC to the dollar just like how they backed it to the gold standard in the past.

First, it would cause unprecedented devaluation of the dollar. Second, Bitcoin's price would skyrocket and everyone would become even less willing to sell their bitcoin.

Quote

My point is we could see major Govt. could rush in and buy as much BTC as possible if it becomes mainstream. Major institutions are already starting to use BTC as a hedge. Only a matter of times before the really Big Boys will step in. This way the US could actually control the Global Financial System.

They can't control Bitcoin, they won't be able to control a financial system based on it.