Serious, theoretical discussion. I'm not claiming to be an expert on bitcoin, but just want to hear some thoughts. Let's say bitcoin is a big threat to the dollar's status as a reserve currency, what is the worst case realistic scenario? Let's not discuss "US government waltzes into your homes and takes your hardware wallet" because that's not a realistic scenario. If we reach that point, we have much bigger problems.
From what I can see, they've already done the worst and it's set capital gains against purchases by bitcoins. No one in the US wants to pay capital gains every time you buy something, most people don't want to fight the federal government believe it or not. This is fine with me, because it still allows bitcoin to be an asset class.
With how many billionaires, institutions, giant companies, jobs now revolve around bitcoin and crypto, could anything else harmful really be done? I doubt very much anyone in the US govt would want to rock the boat much at this point when their major donors and friends are becoming invested.
Submitted November 26, 2021 at 04:35AM by butwhystherumgone https://bit.ly/3xmk1Gq
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