Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Blockchain and Cryptocurrencies -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (4951)	9/10/2022 12:30:51 PM
From: Elroy	Read Replies (1) \| Respond to of 7619

Government regulation will bestow legitimacy to cryptocurrencies as an asset class / medium of exchange, no different than gold, silver or fine art. Yes, I agree. I don't see the benefit of a government bestowing legitimacy on Bitcoin when Bitcoin will contribute to fiat inflation, and it doesn't accomplish much of anything other than being a successful Ponzi scheme. -Bitcoin's price appreciation contributes to inflation -Bitcoin's price apprecation I'm sure has convinced lots of working age people to not work, and instead just live off of their Bitcoin profits -Bitcoin's ability to exist outside the tax system and financial system contibutes to tax avoidance and financial crimes There is not much good that Bitcoin does, other than make a certain lucky few quite wealthy. I think the long term value of Bitcoin is exactly zero, so US government resources would be better utilized pushing Bitcoin toward zero rather than legitimizing it.