In case you haven't heard of it, bitcoin made it to the headline in Davos. There was even a dedicated space called Crypto HQ, which focused on blockchain technology.
Imagine my shock when I found out that government leaders don’t like it!
Talking head for the government of Canada Stephen Poloz stated:
“There is no intrinsic value for something like bitcoin so it's not really an asset one can analyze. It's just essentially speculative or gambling."
It’s funny that you mention that, Steve. What’s the intrinsic value of the Canadian dollar or any fiat currency again?
Well, one could argue that you can use it to write down your shopping list or the number of that cutie you met at the bar. But people have smartphones, Steve.
Well, I guess you can also burn it for heating and cooking when the artificial inflation inevitably blows back on our faces. But I’m talking about the 90% plus of fiat transactions that are actually just numbers on a screen. What is their intrinsic value again, Steve?
It gets better.
Nobel Prize-winning economist Robert Shiller pitched in:
"Bitcoin might totally collapse and be forgotten and I think that's a good likely outcome but it could linger on for a good long time, it could be here in 100 years.”
Whoa, now that’s some Nobel prize-winning observation if I ever seen one, wouldn’t you agree?
I guess if everything goes astray, Robert could always sign up for Steemit and give us some of that hot technical analysis for 3k dollars a piece, if you know who what I mean.
The International Monetary Fund couldn’t help giving its 2 cents, as you’d imagine. In the words of Christine Lagarde, manager of some bullshit made-up departament:
"The fact that the anonymity, the lack of transparency and the way in which it conceals and protects money laundering and financing of terrorism and all sorts of dark trades is just not acceptable."
Nevermind the fact that bitcoin has one of the most transparent blockchains out there and that you could track virtually any transactions.
Don’t even bother about the recent research that shows that less than 1% of the transactions are conducted by “evil doers”.
Honestly, I wouldn’t expect anything else from these schmucks. The fact that bitcoin was a part of the conversation is exciting enough news, no matter the tone of the conversation.
The establishment is afraid and feeling cornered.
As it should be.
they are not scared, they are playing both sides. They pretend to be scared on the outside, and manipulating the price and pulling out to put it into whatever coin they find easiest to control, possibly their own. But that's ok. The people who think like they do will become extinct in 20 years.
What would that coin look like? Is Ripple a good candidate?
I hope you're right about their extinction.
They are most likely a bunch of the whales in every single coin looking to manipulate as much as they can. Will it work? I have no idea!
I think if bitcoin is a person, he will just say IDGAF and still move on. :D
Hah! Seems to be working so far!
I think its hilarious when these "officials" make a comment about money laundering and Bitcoin. Panama Papers anyone?
Hah! They must be mad they didn't know about bitcoin before. Could've saved them a lot of headaches.
right on the money bro!
Thanks for the read!
I just found you via a comment you made on post by @cryptoctopus. You were followed simply because you call yourself SEK3.
I assume you are an Agorist?
If so, greetings fellow sane person.
You made me chuckle with that.
Good post man.
Keep Steeming!
I am indeed. It's great to find so many agorists concentrated in these prairies.
Thanks for the read, I'm glad you enjoyed it.
I'll do my best to keep my stuff chuckle-worthy!