The IMF (International Monetary Fund) said a few days ago that bitcoin is very dangerous because it can disrupt global financial stability. What do you think about the IMF's response ?
The IMF operates under the Chicago school of economy, which fears deflation and promotes people (and nations) getting in debt to "solve" their problems "quick" and then spend the rest of their lives paying their eternal debt (often in misery).
There is no way Chicago school will ever accept Bitcoin, and this is the dominant school of economy ruling the world today.
If you break with the Chicago school teachings, and switch to the Austrian school ideas, a future becomes clear. The IMF and the World Bank cannot stay quiet while everything that made their reason of existence crumbles away.
If you get rid of fractional reserve banking and go with full reserve, you don't need a central bank. If you don't need a central bank, you also don't need a world bank. All of them exist to sustain the legalized ponzi scheme known as fractional reserve, because they themselves operate with such.
If your money keeps its purchasing power over time, or even increases it, there is no reason not to keep it (yourself) for as long as you can, and only spend whats needed. The opposite to consumerism...
No, it is not bitcoin that is dangerous to global financial stability, it is the fact that people
will discover the truth behind fractional reserve banking. This is made easier when a deflationary coin exists, as before everyone remained intoxicated with the fantasy of State manipulated fiat.
Why risk your money in banks that can go bankrupt, when it can be preserved safely in a cold wallet for decades? Why risk your savings with money that can be made worthless by an executive decision overnight, when you can exchange it for a deflationary coin that will keep its purchasing power and even increase it, thanks to its design in code that cannot be changed on a whim for any reason whatsoever (unlike what politicians can do to national currencies).
What the economists of the school of Chicago, who happen to be in charge of these institutions fear most, is that people are finally learning about that other school they themselves rejected for a century or more, because under Austrian school, growth is slower (but steadier). Chicago is more about fast and fragile, endless growth / shrink cycles.
Remember how learning economy was something only for economists? What with internet knowledge gets spread this is coming to an end.
It only takes the voluntary decision for 10% of the money in the planet to be withdraw from banks at the same time, to make the whole thing collapse and crash, exactly like a MLM scheme would, because that's what modern banks doing fractional reserve are.
While this truth is unrelated to Bitcoin, Bitcoin provides an effective escape route, for those few that learn about it in time and manage to seek refuge there before the whole thing collapses. Once the collapse is imminent, it will be too late. Only now (when it appears unnecessary) you can do it.
If the world does this, all fiat coins will plummet and the apparent price of bitcoin will go moon. In reality, bitcoin remains to more or less the same value, it is the fiats that are collectively failing. Well you can instead compare its purchasing power, ie. "how many cans of tuna can this amount buy". Those of us who have lived under hyperinflation, have been forced to do so.
I think those living in "perfect" fiat societies (ie. USD and EUR) are potentially the countries that will suffer the most, because it will take them by surprise. Always expecting their almighty State and economists to save them... Oh, why bail out the banks and not the people? Because if they don't, their scheme collapses...
