You think the governments don't know or understand whats going on?
Why would they hoard precious metals and auction bitcoin, you think they are in the dark on this or you people on these forums are somehow more educated and intelligent than the people running the show from behind the scenes?
Most governments are dinosaurs when it comes to technology, the US government is no exception.
Governments do not know the economics about cryptos and the only knowledge pertaining to them that they have is from their crypto specialists, who are more knowledgeable about how to trace crypto owners than how it actually works:
IF bitcoin is a store of value, why doesn't the government hoard it for themselves, you think the people working at the NSA don't understand bitcoin?... it's their hashing algorithm. What about the news media outlets telling the general public it was only used by criminals and the government can't track it... Tell me how quickly you people let go of that delusion when the AML/KYC laws came home to roost.
Same reason why Tesla dumped their cache - because they need hard cash for liquidity, nobody there will accept payment on Bitcoin.
News media outlets writing about crypto are written usually by uneducated and uninformed people who have no knowledge of cryptocurrency economics.
All I see on these forums is a shared delusion for a 14 year old man-made invention. Likely perpetuated by the fact that 99.999% of people here have a vested interest in bitcoin/crypto-currency.
Sure we do. Most of us own bitcoin because we
believe in its economic principles. You can mock and ridicule us now, but
you will be the one shaking your head when Bitcoin's price moons again and you missed out on it (for the $1 trillion market cap is the not the peak of its market adoption).
Hard asset: Gold - 6000+ years and counting. Governments cannot stop it, so they hoard it instead.
Empty space: Bitcoin - 14 years with too many flaws to count. Governments can regulate it to death.
Gold is most used by governments as collateral against loans to other governments. Because hey do not want to deal with Bitcoin's (current) volatility for loans, that is understandable.
Yeah, bitcoin is about to get it's baby teeth knocked out by reality.
- Power failure = no bitcoin.
- Power costs get too high to sustain infrastructure = no bitcoin.
- Internet outage = no bitcoin.
- No electronic device = no bitcoin.
- Miners don't accept transaction = no bitcoin.
- You lose your income to pay for electric, internet, phone service = no bitcoin.
- Government takes over any of these major things = no bitcoin.
You conveniently ignore the fact that I have refuted your non-confiscation claim about Gold:
- Government sends a warrant against you = no gold, bitcoin, or any other asset.
Besides, we are going to a future where everybody in the world has access to electricity and the internet (Bitcoin cannot be censored). So Bitcoin was literally created for the future.
Gold is a thing of the past, used only by lenders, and dinosaurs who are unable to appreciate the profound implications of bitcoin (like Peter Schiff and you).
You see Ukraine's internet being controlled by Russia, is bitcoin dying there? No.
What about in Afghanistan, where crypto is banned there? No.
China? No.
Russia? Hell no...
bitcoin is fragile, and relies on so many other things to be able to function. Gold is just there, as it always has been, waiting to prove you wrong.
And gold depends on whether people are willing to sell it to you (custodial wallets do not count since it's not even your gold). It's a closed circle of adoption.
As the world goes into an economic collapse even more you think that's going to be sustained?
By what, your hopes and dreams? You gonna force the people that have no clue about what bitcoin is to use it?
I can do this all day with you. If you are on a tight schedule because you are in a rush to go find a fallout shelter to save yourself from an imaginary collapse, then that's on you. 99.99% of other people do not share your opinion about economic collapse.