Peter McCormack recently did a podcast with Robert Breedlove and Gary Vaynerchuk.

This profound conversation made me think about this issue from a totally different perspective.

Bitcoin will be a direct competitor to central banks in an absolute and long-term perspective. However, playing with central banks equates to playing with governments and those who govern them.

And although Joe Biden’s cabinet has a proactive attitude towards cryptocurrencies, I don’t think they want to lose the authoritative power of the dollar- not from a monetary perspective, nor a geopolitical one.

On the other hand, we have China. Over the past fifty years, this country has lifted hundreds of millions of citizens out of poverty. In the next ten years, China will create another 200 hundred million middle-class citizens.

And we have Vladimir Putin, who, if necessary, invades a country if its sovereignty is jeopardized due to a digital asset.

I’m a Bitcoin believer, but I don’t believe in Santa Claus. What I think is most likely to happen is that Bitcoin will, like gold, be considered a safe haven asset.

They could also create a new Britton Wood System. The IMF could come up with new globally-agreed principles for the use of cryptocurrencies. Digital tools could be developed to fight inequality, create greener structural incentives, and promote transparent policies.

Bitcoin was a product created with libertarian philosophy. It was evident in the nine pages of Satoshi Nakamoto’s white paper that Bitcoin would be a product to eliminate intermediation.

The problem is that intermediation is directly related to governments and power that are at the top of the pyramid.

With these vast questions, we remain unsure about Bitcoin’s outcome until further developments.

I can’t agree more with Robert Breedlove’s dilemma, as he says:

You’re not interested in war, but war is interested in you. You’re not interested in Bitcoin, but Bitcoin is interested in you. — Robert Breedlove

Sign up for my email list and join the happiest readers on Medium.
(This is where you get exclusive access to my daily activities, experiences, and daily thoughts)

This article is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.datadriveninvestor.com/the-catastrophic-end-of-nations-a-naive-hope-for-bitcoin-evangelists-f1931de3abbe?source=rss——-8—————–cryptocurrency