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

[DapanasFruit]

You are right with the assessment that the old world order which is continually existing up to now to a large degree is now really noticing the rise of Bitcoin and cryptocurrency...and while some can be afraid of the many possible repercussions it may bring there are also those which see it as a big opportunity for the USA to shine on. I am not sure if the personal stand of Madame Hillary Clinton - who is as old as ice anyway and therefore can be considered as one of the more famous guardians and beneficiary of the current financial system - is on the side of cryptocurrency or if she is the opponent. One of the points we could clearly see is that they are slowly waking up to the fact that eventually cryptocurrency is inevitable.

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[Argoo]

By itself, this is rather disturbing information and should not be ignored as almost everyone does when discussing this topic here. Hillary Clinton raises the issue of cryptocurrency due to its growing influence in the world. We remember that at one of the last summits of the G20 countries, the role of cryptocurrency was already discussed and then it was decided that cryptocurrency does not pose a threat to global financial stability. If the discussion is repeated and this time the opposite opinion is accepted, then tightening measures against the circulation of cryptocurrency may follow. Such measures have no effect if they are taken by a separate state, but if they are adopted by all the G20 countries, the effect will be much more serious.

[Fortify]

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

Lots of people seem delusioned to think that Bitcoin is capable of replacing the US dollar. There is potential for a cryptocurrency to do so, don't get be wrong, but it is never going to be Bitcoin. Bitcoin is too limited by the cap of 21 million total available to be mined - a chunk of which have already been lost due to all sorts of mistakes and accidents. That leaves a tiny amount to process the billions worth of transactions which take place each day. The blockchain is quite powerful and can serve excellent ledger purposes, but the current form that Bitcoin uses is very comparatively wasteful energy-wise so it would be bad for the planet if it was even attempted. You say for better or worse - there is such a thing as "no publicity is bad publicity" but let's be clear Hillary and Blair do not endorse anything near the scale you mention.