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RE: SEC Prosecutes Zachary Coburn Founder of EtherDelta - A threat to Centralization
it's not surprising that governments and authority are doing everything in their power to prevent mass crypto adoption. decentralization will put most of them out of jobs and out of power. ironically it's the chinese civilians that are embracing decentralization because a lot of them hate the government so much. in many other countries (including my own) i see people supporting this type of tyranny.
it's shameful, but eventually they'll give in (those mindless government officials and their supporters). democracy, decentralization, market principles are too good to pass. those same sheeps will get onboard as soon as some influencer starts talking about freedom and crypto :)
Yeah it is a threat to them however they are having a good fightback. Things like Polymath and Circle want to keep the money in the hands of those with the money.
I think the change will happen from the bottom up. Places like Argentina and Veneuela are seeing their currencies crushed with the rate of inflation going above 50%. This has meant that cryptos start to get a foothold. The governments will eventually give up on their currencies as it becomes a waste of time trying to control it and accept one or more cryptos as their national currencies. In the past Zimbabwe gave up in its currency and just started using the US dollar so it is not a big step to using crypto. Over time other countries will see a run on their national currencies and they will also start using crypto. It's pretty much a given.
This will of course mean that these economies will be linked .........which will make for an interesting proposition on what the definition of a country will be.
i think it's gonna happen quicker than we think. once people start exchanging goods/services with crypto it's gameover. at some point, the vast majority will simply move their assets outside government control and refuse to pay taxes. governments will be reduced in size because most of current administrative bullshit and trade laws and tax systems etc will be redundant (at least half of government except military, pd, fd). people will have control over how much tax government really deserves. it's almost too good to be true, but so was the printing press and voting rights. it's coming. the only question is when :)