Why EVERY Government Will Race to Accumulate Bitcoin ft Cedric Dahl
Another video from my time hanging out in Serbia with Cedric Dahl!
And in this video, Cedric will explain how based on the game theory at play, every government will eventually be forced to accumulate Bitcoin.
►► Link to my favourite 1000x episodes: https://louisthomas.krtra.com/t/HLfW7ShGqsoQ
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
▶️ 3Speak
That may well happen unless the US government does something effective against Bitcoin provided that it can. Considering that Bitcoin is mined all over the world and largely in powerful countries that are geopolitical rivals of the USA I don't think it will be possible for the US government to kill Bitcoin. The worst case scenario is for it to ban the use of Bitcoin in the USA and pressure its allies into doing the same in their countries. That would send the market cap of BTC tumbling down but it wouldn't stop it.
Very interesting times ahead indeed. The world is becoming multi-lateral economically and thus geopolitically. That's simply because the USA is losing its share of of the world economy as the rest of the world grows faster. The US contribution to world economy has fallen from 40% in 1960 to 22% in 1914.
The other reason that this might happen can be seen by looking at the current state of the paper gold futures market. This market is being used to artificially suppress the price of gold. At some point, these paper markets are going to fail and it will be the holders of the physical commodity which will benefit. Is the Bitcoin futures market being used in a similar fashion? I'm not sure, but it could be and the same thing may play out for Bitcoin. Only those actually holding the keys will be able to transact on the network.
Well this might be right, But I am from India and My country is about to propose full scale ban on cryptocurrency. They have stated that directly or indirectly involving into crypto is a punishable crime and the individual may be sentenced from 1 - 10 years of jail. This is a big blow for all of us in India. Are there any ways we can still continue to be into crypto??
At this point #Bitcoin is battle-tested and established. It's not going away. Supply IS running out. Big picture we are moving up and to the right. When it comes to short term swings, shorts can still profit, but I know I'm always going to be favoring longs. 🐂
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Every government will accumulate bitcoin because it is the only store of value that is not control by any central systems and also because it can not be manipulated by any organizations or government .
Fiat currencies lose value over the long term as crypto’s gain value long term. The global financial system of fiat currencies is a massive Ponzi scheme that will eventually blow up. At that point crypto’s, precious metals, etc will take their place. I think governments and central banks are realizing that the Ponzi scheme is going to come to blow up soon so they are moving in desperation to acquire crypto’s.
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The U.S. will have it's own cryptocurrency token coin. It will be used first to convert the massive public debt into a "dividend distribution depository" that will enrich and empower the American people to usher them into the age of abundance. Steem blockchain is an ongoing experiment that will affect the aforementioned conversion of public debt to a depository for realizing the American dream! Thanks for sharing and go get some of the Trump tokens on the Steem-Engine exchange.
Cedric is definitely right about one thing for sure that whoever has the disadvantage would want the most change. Especially when strict sanctions are in place which even kinda prohibit these countries as being a tourist destination in someway. No doubt those countries governments would want in on bitcoin, don't be surprised those countries start setting up Bitcoin mining facilities on a major scale but I'm also pretty sure the Federal Reserve Banks and other major Banks in United States and Great Britain have very big investment in Bitcoin and other crytocurrencies.
I hope you are right and this is what will be happen
In some years we will have an economic recession and bitcoin will be the fastest and easiest option for people and governments to take refuge so they do it in secret. Regards