When people talk about the liberatory power of cryptocurrency, I'd really love to know how they suggest we impose capital controls on a private currency if that shit becomes ubiquitous
If I was a corporation I'd love to stabilize bitcoin as a way to hide money through the plausible argument that crypto is an asset rather than a currency (technically correct) and essentially move my money across the world with 0 oversight. Just a thought
@Catsandcatsandcats thats exactly what people have been doing before the normies found out about bitcoin.
@Catsandcatsandcats well the whole purpose of crypto was to use it as a underground currency on dark net or trade money between private individuals without paying taxs or fees. Letting the public know about it was just a way for the private holder back then to make alot of money. I know a few people who became millionares by this reason. Now crypto is being regulated by the gov and they are even taxing other on it now. I cant see crypto falling unless they ban it completely.
@lnx
There is still the ability to enforce capital controls or the potential to pass more reforms with traditional currencies, which are a public tool. That capability is seriously hindered with crypto