As John Connally Jr., Richard Nixon's treasury secretary, put it in 1971,"the dollar is our currency, but it is your [every other nation's] problem." Today, apparently infinite quantitative easing is our problem … and it is bitcoin's opportunity. Cryptocurrency, sitting at a $2T market capitalization, is no threat to the dollar today, but the trends are not favorable.
Widespread use of currencies that evade the existing financial system could blind US authorities to tax fraud, sanctions evasion, and other criminal conduct. Indeed, it would degrade the ability of governments across all democracies to collect taxes and enforce financial laws. Less investor interest in the dollar would increase US government borrowing rates, and reduce discretionary spending as interest on debt increases.Big tech has created enormous value.
profgalloway These are not any threats. Nobody forced anyone to do that. Personal choices.
profgalloway Where's the rest of the list?