2021 BRN Discussion, page-2548

Have to say I think that DB and you are partly correct. Those in charge of economies around the world believe that pulling the fiscal levers is the best way to control economies.

To be fully effective removing hard currency is the aim of every government and reserve bank as it will give total control over the economy.

Negative interest rates to encourage spending could be applied as your virtual wealth cannot be put under the bed.

No black money as all payments would by necessity leave a trail in the virtual world so tax avoidance by individuals would be almost impossible.

In such a world the alternative currency provided by crypto would have no place in its present form and would be outlawed.

The value proposition of crypto longer term if there is one is in block chain as to implement cashless societies Governments would need to be able to guarantee the security of its people’s virtual wealth and ensure there is no ability to steal or counterfeit virtual currency.

So DB is right to see a problem and you are right to see value and both views will converge when governments armed with artificial intelligence step in and regulate and tax and finally take back control.

Remember Stephen Foskett’s words Brainchip taking Ai everywhere. LOL including into the virtual crypto world so governments can control and tax and I suspect they will not accept payment in Bitcoin. Will not take long for crypto to fall out of favour once this happens.

My dystopian view and opinion only DYOR.