Bitcoin Forum

For sometime I have been wondering what would happen if all major economic powers were to ban crypto. The powers that be have every reason to ban crypto because of its very real threat to the hegemonic system we live in. We talk about blockchain cutting out the middle man? That’s very profitable entire industries that will be wiped out. That being said I still believe crypto and blockchain is what we need to establish real international democracy. The biggest threat to crypto is not the government’s regulation or restriction on crypto but of the fact that it remains backed by fiat. Until crypto can become fiat free meaning you can get it without fiat it will remain a vulnerable project with a very uncertain future. My question to the forum is how can we free crypto from fiat?

 
I don’t think the major powers will ban it. I think they will use it to identify tax cheats and money launderers. It will get banned in small countries though. Here’s a little tinfoil hat shit for you. You know the US government just took down BTCe in scamcashistan or wherever the hell it was located. The US gov starts looking at the books and realizes how prolific money laundering is in bitcoinland. They contact their G20 buddies and let them know that they may need to take down a couple of exchanges in their countries too. I think it’s a little too coincidental that all of the countries considering closing exchanges lately are G20 members.

For BTC to become fiat I think the whole world and the various government has to come together to accept BTC as money. But again, the value of this new money will have to drop except it becomes money for only the rich which will also not be good for decentralization.