dalio: "I suspect that Bitcoin’s biggest risk is being successful, because if it’s successful, the government will try to kill it and they have a lot of power to succeed."
I've been saying this for many years. He's 100% right.
@jmcs i entirely disagree. we've had gold coins for centuries and somehow having a popular currency that governments can't control hasn't caused our society to collapse.
@sneak I wasn't thinking about killed, but rather controlled. Broadly, I believe that any cryptocurrency or so-called free currency (even local IRL) backed by an existing currency is bound to be under central control.
The question I still seeking is : could we create a currency that would be speculation proof ?
@sneak There is a precedent for something similar. Gold ownership was prohibited from 1933 until 1974. See https://en.wikipedia.org/wiki/Executive_Order_6102
@sneak if any cryptocurrency becomes too popular, governments will **need** to kill it to prevent society from collapsing. Anyone that thinks that having no control over the monetary policy is a good idea didn't live in early 2010s in Portugal or Greece.