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.
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
@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.
