Hillary Clinton: Nation states should pay attention to the rise of crypto

[Darker45]

Today is the third day of the New Economy Forum and the speakers for today include Hillary Clinton and Tony Blair.

For her part, Clinton made mention of cryptocurrency. She urged that nation states should start paying attention to its rise. I don't know how much the former US presidential candidate and secretary of state knows about cryptocurrency but she is definitely briefed about it.

For better or for worse, she interprets crypto-- perhaps she actually meant Bitcoin more than crypto-- as having the potential for undermining not just other less powerful fiat currencies but also the USD itself as the reserve currency.

This to me is a sign that the old order has now been seriously shaken to the core. And rather than opposing that which seriously disrupts the old system, something which they cannot stop, it might actually serve them better if they just embrace and exploit it.

If the USD is now being threatened and the threat is more or less unstoppable primarily because of its decentralized system, it might be prudent to just welcome the threat and make use of it.

What do you think? Will the USD face its eventual demise as a reserve currency due to its own weaknesses and the threat of other growing competitor currencies? Or could it be revived and even made stronger by the adoption of Bitcoin as a potential reserve currency in the future?

Source:

1. https://www.youtube.com/watch?v=OuNhMuEGk0M

[TheNineClub]

I wouldn't go so far as looking at this as them being shaken up, I think this is just her trying to be relevant by namedropping something like crypto that's THE thing right now. I think structures of power (governments, financial organizations, tax agencies...) have been taking notice of crypto for a long time now and all this gradual adoption of crypto is a result of years of watching and taking notes on what's going on. I wouldn't go so doom and gloom on USD or any other currency for that matter, I think it would be more in the vain of cohesion between the old concepts in economics and finance and the new concepts.

[mk4]

Not sure how she's so surprised that bitcoin is a threat to the USD; you know, after they like inflated the USD like hell. Of course people are looking for lifeboats. It's like shooting yourself in the foot then blaming your doctor/surgeon.

[dkbit98]

Someone commented this on twitter and I think it is appropriate in this situation, Hillary Clinton blaming Bitcoin saying it's destabilizing nations and us dollar, is equivalent of someone blaming lifeboats on sinking Titanic ship for saving lives of people and passengers.

[jackg]

It might become less profitible for the US government but not being the world reserve currency hasn't done too badly for the other countries that have had the title in the past.

I doubt crypto has the strength to overtake the dollar within a few years for example but there will likely be a solution that rises up that consumers/businesses accept (and we can hope it's not centrally controlled).

[Stedsm]

--snip--

I doubt crypto has the strength to overtake the dollar within a few years for example but there will likely be a solution that rises up that consumers/businesses accept (and we can hope it's not centrally controlled).

Exactly, not just talking about Bitcoin alone but the entire crypto doesn't hold a chance at replacing the Dollar to become world reserve currencies because these things are being seen as highly volatile assets where storing money can only be useful for those who see the price of BTC to be at least a few dollars higher than what they invested at, at the end of the day. I believe centralisation is definitely going to take place once regulations come into effect globally, but that'll take time (not so far).

[icopress]

It might become less profitible for the US government but not being the world reserve currency hasn't done too badly for the other countries that have had the title in the past. I doubt crypto has the strength to overtake the dollar within a few years for example but there will likely be a solution that rises up that consumers/businesses accept (and we can hope it's not centrally controlled).

Against the background of the constant pumping of money into the world economy, even Shitcoin 3.0, whether it is legal with its crazy emission, will not overtake the dollar. The only scenario in which the cryptocurrency will have weight is integration with the fragile global credit pyramid, but this is unlikely as long as the Fed keeps the refinancing rate at zero.         p.s. I will quote myself as it seems to me that the adjacent thread will be blocked!

Be aware that those who are powerless to do something tend to rant (it's not for nothing that real power is called gray cardinals).

Also, do not forget that in order to stay in the saddle, politicians of such a level as Hillary must periodically stir up the interest of their voters, so they have to create a news noise based on the modern interests of the audience. As a rule, if she understood something in this, then she would have been more worried about the Middle Kingdom and viewed bitcoin as the only adequate lever of pressure on China. I am not saying that Bitcoin can be a political instrument, but with the support of the US government, Bitcoin can be a breath of fresh air for the entire American economy.  

[romero121]

Bitcoin is considered as a store of value. Countries that are facing hard inflation have begun to consider bitcoin/crypto as the way to revitalize the economy. The recent inflated one being the Turkish lira. MicroStrategy CEO Michael Saylor have mentioned in his tweet "Bitcoin is hope for Turkey" because it has lost third of its value since March. He mentioned TRY to USD will slow down the collapse whereas adoption of bitcoin will revitalize the economy from the damage. During the time period lira have inflated 50% and the USD prices are up about 6%

These kind of act will boost the USD, when the adoption of cryptocurrency happens it'll damage the USD. This seems to be the major reason why Hilary Clinton have revealed such a statement. Apart from this there were more countries in the queue for cryptocurrency adoption which at present depend much on USD.

[Leviathan.007]

That's so funny to see some Hillary Clinton says on the news, that's obvious that none can ignore the spreading word of bitcoin all over the world, not just in the USA but in any other country, now after years of ignoring bitcoin and trying to think that's not an important technology they say bitcoin cannot be ignored, I However, theoretically I believe what Clinton started in just a political game to talk and about something trending and famous in the world and get people's attraction to herself. Otherwise, I'm not sure even if she really understands anything or cares about bitcoin.

[Zilon]

--snip--

I doubt crypto has the strength to overtake the dollar within a few years for example but there will likely be a solution that rises up that consumers/businesses accept (and we can hope it's not centrally controlled).

Exactly, not just talking about Bitcoin alone but the entire crypto doesn't hold a chance at replacing the Dollar to become world reserve currencies because these things are being seen as highly volatile assets where storing money can only be useful for those who see the price of BTC to be at least a few dollars higher than what they invested at, at the end of the day. I believe centralisation is definitely going to take place once regulations come into effect globally, but that'll take time (not so far).

Definitely true Bitcoin can't replace the normal fiat currency as a major reserve but it would continue to be a treat to many nations economy due to its decentralized nature. One limitations Bitcoin might face in the future is it's highly volatile nature and as long as it's unstable there are no chances for adoption but can serve as store of value for some countries

[Welsh]

The government, and Hilary would be well up to date on Bitcoin. She might not have the knowledge about it personally, but the government have been aware of its existence from its very inception. I wouldn't take Hillary's comment as the government are going to start cracking down on Bitcoin though, I took it as her personal opinion rather than anything official or her being in the know of things that might be official.

These kind of act will boost the USD, when the adoption of cryptocurrency happens it'll damage the USD. This seems to be the major reason why Hilary Clinton have revealed such a statement. Apart from this there were more countries in the queue for cryptocurrency adoption which at present depend much on USD.

Adoption of Bitcoin has already started. The difference is; it's being used as a reserve currency rather than a every day currency. This doesn't really hurt fiat currencies all too much in its current state, fiat currencies do that to themselves, because of their inflation which is a design flaw. If fiat fails, it's because it's flawed, and there are better alternatives out there. At the moment though, Bitcoin isn't the answer to all our problems. I see Bitcoin as a way of controlling your money right now, and it probably has more potential to earn you money over a period of time, than if you were to collect the tiny amount of interest banks offer.

[tomahawk9]

ha! the audacity...these ponzi scheme loving clowns keep priting money, inflation rate keeps growing and they have the audacity to blame cryptos for all the mess they themselves created. She even says cryptos could "destabilize" nations? the way she said it tho, as if a damn nuke is gonna wipe a nation. Almost everything she said is actually a good thing like the rise of cryptos, undermining fiat, crypto possibly acting acting as a new reserve currency in times of turbulence economy yet she painted it in a bad light with that last "destabilizing nations" bit. I hate politicians

[Stedsm]

Definitely true Bitcoin can't replace the normal fiat currency as a major reserve but it would continue to be a treat to many nations economy due to its decentralized nature. One limitations Bitcoin might face in the future is it's highly volatile nature and as long as it's unstable there are no chances for adoption but can serve as store of value for some countries

How come countries can use BTC as a store of value without its adoption? Amazed, truly!
Anyways, Bitcoin's volatility will still be there years later be it towards north or south, because traders are in crypto for money so they won't let the volatility go apart from BTC to earn through futures if not spot.

--snip--
.... I see Bitcoin as a way of controlling your money right now, and it probably has more potential to earn you money over a period of time, than if you were to collect the tiny amount of interest banks offer.

That's the only reason we all are here, because banks have been looting us all the way since centuries and it's such a system that was made only for the benefits of Governments and Big Entities of their countries. FFS, if I'd have got BTC in my childhood back in 2000s or even earlier, I'd have experienced already what it is to be financially free while we have been paying yearly debit card charges, QAB (Quarterly Average Balance) Non-Maintenance charges, SMS charges (for transaction alerts), calling charges to Bank if we'd like to ask something regarding their services, I mean WTF? We need to pay them more money to handle our money? Are they providing any kind of security to us? What about the banks that got ripped by many industrialists who ran away with people's money and such innocent people are still waiting for their money to be returned to them?

Are we retards that we can't even handle our money? BTC removed all these things as well as the stress to pay these shitty charges to banks as I can simply sell my BTC for cash and get my work done. My view of looking towards money changed after BTC came in my life, and I'd happily use it till I live.

[giammangiato]

Today is the third day of the New Economy Forum and the speakers for today include Hillary Clinton and Tony Blair.

For her part, Clinton made mention of cryptocurrency. She urged that nation states should start paying attention to its rise. I don't know how much the former US presidential candidate and secretary of state knows about cryptocurrency but she is definitely briefed about it.

For better or for worse, she interprets crypto-- perhaps she actually meant Bitcoin more than crypto-- as having the potential for undermining not just other less powerful fiat currencies but also the USD itself as the reserve currency.

This to me is a sign that the old order has now been seriously shaken to the core. And rather than opposing that which seriously disrupts the old system, something which they cannot stop, it might actually serve them better if they just embrace and exploit it.

If the USD is now being threatened and the threat is more or less unstoppable primarily because of its decentralized system, it might be prudent to just welcome the threat and make use of it.

What do you think? Will the USD face its eventual demise as a reserve currency due to its own weaknesses and the threat of other growing competitor currencies? Or could it be revived and even made stronger by the adoption of Bitcoin as a potential reserve currency in the future?

This news is always good! An essay said, for better or for worse if we talk about it, interest in cryptocurrencies is growing in all sectors, i believe usd will not go away, bitcoin is considered gold in the classic market, so they will go hand in hand this is mine opinion! A remote chance to create a new cryptocurrency, anything is possible!

[uneng]

This to me is a sign that the old order has now been seriously shaken to the core. And rather than opposing that which seriously disrupts the old system, something which they cannot stop, it might actually serve them better if they just embrace and exploit it.

This is actually already happening through the so many regulations being passed in different countries and also noticiable through sudden changes of mind by another countries, like China, for an example, which has already admitted they can regulate bitcoin at some point, instead of completely banning it.

Even the friendly bitcoin adoption by El Salvador is a good indicator the traditional system which rules the world is trying to take advantage of crypto currency to prolong their domination in every local socities.

[rodskee]

or this is a opposite stand of Hillary Clinton as Biden is seemingly against crypto? there are some rumors that some americans are selling their coin now because of Biden's word against this market?

Not too many years ago, this would have been one of the biggest stories in the history of Crypto, and today it seems very significant.

looks like supported post here , years passed and here we are now .

[pooya87]

For better or for worse, she interprets crypto-- perhaps she actually meant Bitcoin more than crypto-- as having the potential for undermining not just other less powerful fiat currencies but also the USD itself as the reserve currency.

United States administration has always been afraid that the illusion of "strong currency" is going to break as everyone stops using it as the universal currency. This has been happening slowly too, so obviously they are feeling the threat every day.
Bitcoin is only part of that threat. When a country like El Salvador that was using USD as its currency suddenly adds bitcoin as their legal tender and wishes to move away from USD, the fear in Washington grows.

serve them better if they just embrace and exploit it.

How would they exploit it?

What do you think? Will the USD face its eventual demise as a reserve currency due to its own weaknesses and the threat of other growing competitor currencies? Or could it be revived and even made stronger by the adoption of Bitcoin as a potential reserve currency in the future?

USD strength was a lie from the beginning and things only got worse. Basically it was strong in the start after WWII because every other country was in ruins and their economy was so small. I believe US economy was more than half the total world economy back then. But today US economy is smaller compared to the world specially compared to giants such as China and they've been moving away from USD for some time now.
I want to emphasis again that this has nothing to do with bitcoin.

[Poker Player]

What do you think? Will the USD face its eventual demise as a reserve currency due to its own weaknesses and the threat of other growing competitor currencies? Or could it be revived and even made stronger by the adoption of Bitcoin as a potential reserve currency in the future?

I think that's a long time away yet if it ever happens. Within fiat currencies it still has a high status, let's think that massive printing and devaluation are far from exclusive to the USD. I believe that in the medium term future "strong" currencies like the USD or its digital versions will coexist with the Bitcoin as currencies to spend on a daily basis and not to store value. The hypothetical scenario in which the Bitcoin takes over everything and becomes currency, store of value and unit of account, I see in a very long term future.

[Kakmakr]

The thing is, people are slowly but surely recognizing that Fiat currencies are failing them.. and that it is losing value over time. The US Dollar has lost significant value over the last few years, so people are looking for alternative currencies that are storing value and not losing value.

The status as a global reserve currency for the US Dollar are losing it's appeal for most currencies.... so Hillary can warn all she wants to... the threat is not Bitcoin, but rather the US Reserve Banks printing the US Dollar ..like cheap toilet paper. 

[galambo]

It might become less profitible for the US government but not being the world reserve currency hasn't done too badly for the other countries that have had the title in the past.

I doubt crypto has the strength to overtake the dollar within a few years for example but there will likely be a solution that rises up that consumers/businesses accept (and we can hope it's not centrally controlled).

IMO government agencies will only go to extent of adoption of centralized cryptocurrency like xrp, bnb etc. For government agencies bitcoin is more dangerous then inflated dollar since decentralized btc gives them zero control over financial matters. Btc is designed to remain decentralized, something not desired by centralised bodies.