this post was submitted on 13 Nov 2024
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You can believe that all you want, but this is an even nutter dream than achieving effective gun control in the US (one of my nutty dreams). Why in the world would the government ever give up control of the "money supply"? That's not going to happen.
Oh, they're absolutely not going to give it up. That's for sure. But as a citizen, you can just stop using it as much as you can in your day-to-day life. You can't avoid using it entirely in most cases, but you can tone down how much you use it pretty significantly. And that they cannot control.
Governments have shown in the past they will indeed never give up their money printer. That's a key reason crypto was created. You seem to think governments are willingly allowing crypto to exist and have the ability to shut it down. Centralised e-cash has been tried (and quickly squashed). P2P crypto is immutable and exists to preserve the freedom of users.
They have the ability to shut it down for all practical purposes by simply banning its use for transaction by legitimate companies in their country.
That would just suppress the price in the short term and leave that country behind in the digital currency revolution. Everyone has a moral responsibility to disobey unjust laws. Politicians can legislate all they want, but crypto will keep humming along.