I don't either, hence my post why public services would suffer....
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I don't either, hence my post why public services would suffer....No I don't, do you?
I'm confused. So we have "euro wicked, drachma good". My understanding is that bitcoin is meant to be be an answer to incontinent currencies like the drachma.Yes, but the adoption of the euro as their currency facilitated the increases in spending.
The punt or drachma would not have been capable of these levels of spending without crashing those currencies.
I don't either, hence my post why public services would suffer....
Confused? We can't be having thatI'm confused. So we have "euro wicked, drachma good".
Has someone in this discussion suggested a complete swap out? I guess I missed that part...My understanding is that bitcoin is meant to be be an answer to incontinent currencies like the drachma.
I'm confused.
So we have "euro wicked, drachma good"
I acknowledge that you have consistently argued that bitcoin could enjoy a niche role alongside fiat and I find that a credible position albeit one which, admittedly IMHO, is in error.Has someone in this discussion suggested a complete swap out? I guess I missed that part...
Does BTC have legitimate uses? Certainly.
They wouldn't be funded...Why would they suffer?
So that's whose fault exactly?The Greek government would never have been able to borrow to the extent it did without cooking the books using Drachma, with the assistance of the banking sector, to meet the criteria to join the euro.
You have to bear in n mind that it's the ills of the existing system that led to the BTC project in the first instance. I think anyone who has any any tine for crypto acknowledges this. I have not seen anyone here suggest there will be a complete swap out.But others in the discussion have adopted a more evangelistic stance whereby they clearly long for a situation where crypto delivers us from the wicked corruption of central bank controlled currencies.
Well it (the whole mess ) involves 2x FIAT currencies ;-)So that's whose fault exactly?
But others in the discussion have adopted a more evangelist approach whereby they clearly long for a situation where crypto delivers us from the wicked corruption of central bank controlled currencies.
Do you believe cash should've banned then?They wouldn't be funded...
They wouldn't be funded...
So that's whose fault exactly?
Oh no. Nobody has suggested a complete swap out. Let's not be coy here. I am referring to B/S. My read of his (apologies if it should be her) position is that he thinks there is a non trivial chance that it will fail. But it is clear from his doctrine that paradise on this planet would be in sight if bitcoin replaced all fiat.You have to bear in n mind that it's the ills of the existing system that led to the BTC project in the first instance. I think anyone who has any any tine for crypto acknowledges this. I have not seen anyone here suggest there will be a complete swap out.
The point being that it will be very difficult for Revenue to audit transactions or profits in Bitcoin as you agree. Unless you think people are 100% honest the public coffers will suffer....Why not? The revenue have authority to demand payment in euro. If all I have is bitcoin it will be me who has to convert it to euro to comply.
If the Greek government didn't want to cook their books there wouldn't have been any work for GS. Fault lies with the Greeks.Eh, bitcoin?
Or the Greek government and Goldman Sachs perhaps?
I don't disagree that it presents a difficulty but not the same level of difficulty as cash.The point being that it will be very difficult for Revenue to audit transactions or profits in Bitcoin as you agree. Unless you think people are 100% honest the public coffers will suffer....
“Cryptocurrency is very much here to stay,” said futurist and author Thomas Frey, noting that he’s speaking to the Federal Reserve in September on the topic. He predicts that “cryptocurrencies are going to displace roughly 25% of national currencies by 2030. They’re just much more efficient, the way they run.”
“When people like [International Monetary Fund managing director] Christine Lagardesay cryptocurrencies could displace central banks and international banking, that’s very significant,” Frey said.
http://time.com/money/5178814/the-future-of-cryptocurrency/The rise of cryptocurrencies over the past couple years represents “the legitimization of a new asset class emerging alongside the traditional global economy,” according to Dr. James Canton of the [broken link removed]. “I’d say you can expect an exponential increase of new investment vehicles to come from cryptofinance.”
The future of commerce will be shaped by the crypto supply chain, which will have less friction and more exponential value between buyers and sellers of all products,” Canton said.
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