Understand the implications of Bitcoin's downfall in El Salvador. Learn about the failed economic bet and its impact on the country's financial stability.
The problem with any new kind of currency no matter what it is will always be controlled and manipulated by the wealthiest individuals who will flood their wealth into that new system.
It can be manipulated by people with enough share in it by buying or selling in large quantity, like any other currency, and it can even be manipulated by giving out loans which create temporary duplicates via promissory notes, but it can’t be manipulated by excessive printing by a national institute for the goals of a singular nation.
Much more useful, imo, is that it’s a public multiple ledger system that makes it much more difficult to conduct shady business with and not get caught. The FBI is one of the world’s largest BTC holders because its so incredibly easy to track in investigations of illegal transactions.
The problem with any new kind of currency no matter what it is will always be controlled and manipulated by the wealthiest individuals who will flood their wealth into that new system.
That’s part of the argument behind using Crypto.
It can be manipulated by people with enough share in it by buying or selling in large quantity, like any other currency, and it can even be manipulated by giving out loans which create temporary duplicates via promissory notes, but it can’t be manipulated by excessive printing by a national institute for the goals of a singular nation.
Much more useful, imo, is that it’s a public multiple ledger system that makes it much more difficult to conduct shady business with and not get caught. The FBI is one of the world’s largest BTC holders because its so incredibly easy to track in investigations of illegal transactions.