Introduction and Cryptocurrency

stickshaker (25)in #introduction • 9 years ago

New to Steemit and very interested to see how this helps independent content providers, especially now that Youtube can effectively censor by removing advertising.

I'm late to purchasing any cryptocurrency but was very aware of Bitcoin since 2012. I've purchased Bitcoin as I hope it will be the future of purchasing and currency exchange and in the process provide a fairer worldwide distribution of wealth. Bitcoin threatens world banks existences (unless they embrace it, and I'm not sure how they do that) and I believe until now they have ignored it. What is to stop threatened financial institutions interefering with Bitcoin? If threatened enough surely they could simply buy Bitcoin and prevent it being spent, suffocating it....any thoughts?

#cryptocurrency

9 years ago in #introduction by stickshaker (25)

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diginaut (50) 9 years ago

They are buying it. I'm no cryptocurrency expert at all, but in my limited knowledge, I have been lead to believe it will make it more mainstream, which will be good for people with cryptocurrency investments in some ways. But there are concerns with it. That is all I can comment at this point other than to add that the Australian government is changing legislation to make cryptocurrency taxable. There again, Upsides and downsides to it.

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stickshaker (25) 9 years ago

I understand the US government is also attempting to legislate it. People are becoming more aware of cryptocurreny but simply trying to purchase it is a barrier to entry, in the UK just setting up a wallet in Coinbase is hard work. Once this is solved the floodgates will open and the powers that be will be forced to act.

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diginaut (50) 9 years ago

Depending on who you listen to, the petrodollar may not be around at some point in our lifetime. I suppose anyone who already has cryptocurrency will be way ahead. This is what I hope anyway.

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