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Bitcoin Will Probably Never Be Embraced by the U.S. Government

41 点作者 louismerlin超过 7 年前

13 条评论

felipeko超过 7 年前
The title is so misleading. It&#x27;s just a interview, and there&#x27;s nothing in the interview that gives room for what the title is saying.<p>&gt; Barzilay: Do you believe Bitcoin will ever be embraced by the U.S. government?<p>&gt; Dr. Hosp: I think that the concept of virtual currencies will definitely be embraced, because they have a very transparent transaction ledger. So, we know exactly what’s been happening. With bank transfers, it’s quite hard, but with fiat money it’s impossible, so I think virtual currencies will see a huge uprise by governments. Whether governments will embrace Bitcoin - let’s see, but there is definitely value for people. Bitcoin is very difficult to hack, it’s almost impossible to steal if you use for example multi-signature bolt. And with TenX you can spend Bitcoin pretty much anywhere. So, this is the future to go. I don’t think that Bitcoin is going to be a currency, but it’s going to have status like gold.
johnwheeler超过 7 年前
&quot;Probably Never&quot; is wishful thinking. They will <i>never</i>. Full stop.<p>Why would the U.S. government tolerate universal currency when it has something far more advantageous? A currency it controls every other currency is pegged to (including Bitcoin).<p>More practically speaking, the government needs the ability to expand the money supply during financial crises. Bitcoin doesn&#x27;t lend itself to any of those Keynesian tricks.<p>And, government is not &quot;afraid&quot; of Bitcoin. Letting the experiment continue is more about laissez-faire capitalism than an inability to regulate crypto.
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olivermarks超过 7 年前
IMO cryptocurrency is perfectly poised to be the global currency, transcending nation state central banks and leveraging fiat currency foundations via the bank for international settlements. <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Bank_for_International_Settlements" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Bank_for_International_Settlem...</a><p>The interview with the ex kite surfer and trauma surgeon is his opinions based on his ICO
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ringaroundthetx超过 7 年前
Different people in the U.S. government will embrace bitcoin, because they are the people trading bitcoin now. The wealth will bring the influence and the influence will bring the power.<p>Some people were flabbergasted when the Fed was buying Mortgage-Backed Securities off the open market, practically giving one group of people money, under the guise of stimulating AN economy.<p>Different people are going to be flabbergasted when the Fed, under a different group&#x27;s leadership, starts buying cryptocurrencies by the $ billions every month, practically giving another group of people money, under the guise of stimulating AN economy.<p>And it will still be unaccountable to anyone that cares.<p>The European Central Bank buys junk corporate bonds simply because a Goldman Sachs alumni wanted to. The Swiss National Bank buys equity, straight off the New York Stock Exchange, at valuations it can never make a profit from dividends from. The Central Bank of Japan buys equity and bonds.<p>These institutions are funded by the future productivity of tax payers and can be exposed to heavy losses.<p>It isn&#x27;t out of the question that they will buy the spot market in crypto commodities in the future just because someone familiar with that market is heading the bank.
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meow_mix超过 7 年前
I need to block Forbes. The number of ads they put up is comparable, and quality of their content is comparable to buzzfeed nowadays
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oh_sigh超过 7 年前
I just can&#x27;t imagine the world governments okaying the transfer of billions or trillions of dollars of wealth to people who largely just sat on a technology from the beginning. Wouldn&#x27;t the US or some world body, if they were going to come around to blockchain tech, start their own with a more equitable distribution(or at least, distribution more in line with what currently exists).
DesiLurker超过 7 年前
My thinking is that bitcoin&#x2F;cryptocurrencies dont have to be &#x27;fully&#x27; embraced by govt, it just needs to be recognized as a valid asset class and the markets will do the rest. so long as its not too much of a pain to use&#x2F;keep it will do just fine. what people dont grasp is that the reason govt or central banks dont like any other fiat is that it takes power to inflate away from them. so long as we have fixed references in form of btc&#x2F;etc markets will ensure they work as inflation hedge (after an unspecified initial period of price discovery ;). In fact I do foresee BTC becoming a legit currency after few unstable currencies fail.<p>You could argue this was essentially the role of gold but the main problem with gold is that its the central banks that started with biggest ownership of gold so its very susceptible to price manipulation and really un-auditable without some form of trust setup. both of those are not as much of concern with cryptocurrencies.<p>TLDR: it will be an asset until it becomes a global currency.
erikb超过 7 年前
Bitcoin has achieved so much already that people considered impossible. If the government is not able to build their own competitor they&#x27;ll certainly embrace it at some point.
kindfellow92超过 7 年前
What does this even mean? BTC is a commodity, the government wins via taxes when people make gains. That’s like saying the government will never embrace stocks or real estate.
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paloaltokid超过 7 年前
Like, duh. Of course the government won’t embrace Bitcoin. It’s an absolute threat to national sovereignty.<p>Virtual currencies that are not anonymized - no problem. But not Bitcoin.
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LeoJiWoo超过 7 年前
The government will embrace Bitcoin, but not as a currency (unless we end the Federal Reserve and&#x2F;or shift back to the gold standard).
moocowtruck超过 7 年前
as much as i want bitcoin i think it would be premature for the us govt to embrace bitcoin at this point.. the tech around all this stuff needs to seriously bake and be refined before seriously considering it
matchcohnn超过 7 年前
Why should the US government fear bitcoin??<p>- bitcoin isn&#x27;t usable as a transactional currency. it costs $30-40 per transaction. Plus other currencies are gaining steam, and offering other choices for people to transact<p>- bitcoin isn&#x27;t rare to be a store of value.....everyday there&#x27;s a new viable cryptocurrency springing up<p>- bitcoin isn&#x27;t safer than dollar.....it can drop 90% in any day; no official entity is going to prop it up and make sure it doesn&#x27;t crash. it can be banned by countries (and has been by a few)<p>- bitcoin isn&#x27;t easy than square cash or wires.....it can take several weeks to send money. plus the transaction fees are high