Interesting for sure. I'd like your opinion. I have a friend who is a big time commodities trader for one of these large banks. He's not in the Goldman Sachs kid raping club, but he rubs shoulders with those types. He's convinced they are going to kill crypto. He says they are going to do it by co-opting the fiat onramps. I hope he's wrong, but what do you think about that?
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I'm sure it's true, and it's one of the frontlines we have to be on.
I own no bank account (I haven't for more than 20 years now), and living in El Salvador allows me to receive and spend cryptos without any conversion to fiat - as I may buy my daily food, pay my rent, etc. through BTC. My situation must be a "worst case scenario" for your friend's acquaintances... And a whole array of pressures will most probably rise on our government.
That's amazing! I wish I was in your shoes. I can't do much with crypto besides investing at this point. Some local merchants are starting to pick it up though so hopefully soon. You're right about the pressure coming for El Salvador. I hope they hold out. I spent some time in El Salvador back in 2008 and I love that country. Look at "Diary of An Economic Hitman" though to see the stuff DC is willing to do to Latin Americans that defy their edicts.
Yes, let's work for that trend to extend to many countries! Isn't there a "HBD for retail" adoption project? (I remember that a series of Steemit users were promoting the Steem & SBD as daily means of payment, some years ago, and they've most probably converted into Hivers, now 😊). Another path is to use @brianoflondon 's great Hive dApp to instantly swap Hive or HBD into satoshis, and to look for shops accepting Lightning Network in Wyoming - or to propose them to accept it 🙃.
True, there are tough ordeals coming for us, but at the same time the support generated from crypto communities, in particular from Hive (LeoFinance, OCD, etc.) will play a crucial part in our resistance.
I wish some other countries like Panama and Ecuador would jump on the cryptocurrency bandwagon and start moving away from the dollar. The more countries do it the better. The US can't invade everyone.
True! Several countries could do it in the short term, and adopt what Mark Goodwin calls the "Bitcoin dollar" (
The ones I'd see shifting the most easily are Argentina (because its peso is hugely devalued compared to the dollar) and Russia (to minimize the political sanctions impacts and to boost their economy).