I don't know - the economic incentives are kinda trite. Be my guest, hazard a guess. Could be the US deep state, or BRICS, or someone else.
- competes with the function of sovereign currencies
- debases any sovereign power projections executed via currency agreements, policy, or controls ( i.e. mutually assured enfeeblement of nation-states )
- soaks up retail liquidity
- soaks up USD liquidity
- moderates the price of any other inflation hedging assets ( gold, US equities, particularly tech stocks )
- ???
Further banter :
McAfee's interview is a nice example of shit served with ice cream :1. BTC is really, really, slow. Read up on TPS for other alternatives, there are many.2. Filling in forms is really, really, fast. If you have 1990s QR or other OCR infrastructure to begin with. (Mostly we don't, and that's a cheaper policy solution than deregulating cryptocurrency.)3. There are lots of enforcement mechanisms to keep sheep in the pen. The motivation for states to avoid those for now should give any reasonable analyst cause for concern : besides the mutually assured enfeeblement of state money, where does surveillance fit in? And after all, who runs the validators?4. You don't have to tax crypto users, if you can tax crypto validators. By extension in one, of many possible futures, where decentralised validation is the global monetary infrastructure, the tax on physical inputs would have skyrocketed, to control who can afford to run validators.
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