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Bitcoin Institutional Adoption
Hi all, just a thought experiment as a bitcoin newbie. Some have mentioned that if the government views bitcoin as a threat to their fiat. Then they may ban btc (similar to confiscating gold in 1930s). And they can continue printing their shit money. However, unlike gold which was easily seized, they can't easily seize btc. In that case, won't they just ban the institutional adoption of btc, thereby, removing some utility of btc. They can control institutions (fairly easily) but not custody of btc. I think of it as people use gold as a store of value because gold can be traded for other stuff (making it valuable). But if btc can't be traded for other stuff, what then would be its use? Won't its value fall greatly? submitted by /u/Sacrosanct94 [link] [comments]
Hi all, just a thought experiment as a bitcoin newbie.
Some have mentioned that if the government views bitcoin as a threat to their fiat. Then they may ban btc (similar to confiscating gold in 1930s). And they can continue printing their shit money.
However, unlike gold which was easily seized, they can't easily seize btc.
In that case, won't they just ban the institutional adoption of btc, thereby, removing some utility of btc. They can control institutions (fairly easily) but not custody of btc.
I think of it as people use gold as a store of value because gold can be traded for other stuff (making it valuable). But if btc can't be traded for other stuff, what then would be its use? Won't its value fall greatly?
[link] [comments]
