Cryptocurrencies

[Malmqky]

3 minutes ago, james22 said:

 

Which currency would you prefer?

 

Bitcoin actually.

 

I'm just skeptical of it ever being a government approved/endorsed currency on the scale of being a reserve currency.

[mattee2264]

Trump is a populist. And it is far easier to pump up the bitcoin price than the stock market. And easy for the US government to find some pretext to purchase a few million bitcoin. 

[TwoCitiesCapital]

2 hours ago, Malmqky said:

 

One thing I've always wondered is will the US/some other government create a virtual currency? Why use Bitcoin - something they can't control?

 

The US is the country in the world that has the LEAST incentive to give up the current system. 

 

That being said - the writing is on the wall for the current system. The only question is what would be the alternative. IF the alternative is Bitcoin, the US would do well by being an early adopter. 

 

That being said, I do NOT expect the US to adopt BTC in any meaningful way for the $ or the debt. I expect it to be other countries with significantly less to lose who make the move first - as demonstrated by El Salvador and Central African Republic being the first two. 

[Malmqky]

14 hours ago, TwoCitiesCapital said:

 

The US is the country in the world that has the LEAST incentive to give up the current system. 

 

That being said - the writing is on the wall for the current system. The only question is what would be the alternative. IF the alternative is Bitcoin, the US would do well by being an early adopter. 

 

That being said, I do NOT expect the US to adopt BTC in any meaningful way for the $ or the debt. I expect it to be other countries with significantly less to lose who make the move first - as demonstrated by El Salvador and Central African Republic being the first two. 

 

Thanks for clarifying. I could see a reality where a bunch of smaller countries adopt it ala El Salvador and it snowballs from there. Especially with the US weaponizing the USD.

 

It would be interesting to see the US/Chinese response to that. Both countries would be very against it happening, and both countries like to meddle in foreign affairs...