Honestly, bitcoin is an existential threat to American Dollar dominance. If Congress wasn't sooooooooo old, they would have banned it when they had a chance. Too late now, we have entered the BITCOIN AGE. The legacy system will dismantle with reckless efficiency because of the asymmetric distribution of wealth to people who have a proven track record of choosing value over morality.
IMHO, we're in the "trying to co-opt it" phase. We won't see the real attacks until that fails.
I agree. This attempt to “co-opt” will require an enormous practically irreversible movement of fiat liquidity into Bitcoin, which is the very outcome they mean to prevent.
As the rich and powerful ape in, they will not want damage to their new “gains”.
Thankfully, ethereum and other shitcoins will continue to distract the smooth brains with yield-chasing mindsets.
Oddbean new post about login | logout 