-37 upvotes, 6 direct replies (showing 6)
Dumb article. Congress CAN'T limit bitcoin mining or trading. The world is going to keep adopting bitcoin with or without the US. You can only ban yourself from bitcoin.
Comment by tempest_87 at 24/11/2024 at 20:05 UTC
21 upvotes, 2 direct replies
Congress CAN'T limit bitcoin mining or trading.
Which is *literally* the justification on why it will not function as a reserve.
Imagine if the US let random people make money. As in, literally print dollars. What exactly do you think would happen?
Federal reserves have value because the federal governments can control that value with the reserve. That's the whole point.
Comment by Delanorix at 24/11/2024 at 19:18 UTC
43 upvotes, 4 direct replies
Who has adopted it? Lol
Who actually uses it for anything other than a currency reserve?
Nobody has adopted bitcoin because it does nothing lol
At least gold has a use outside of jewelry.
Comment by mf-TOM-HANK at 24/11/2024 at 20:01 UTC
13 upvotes, 3 direct replies
What's the use case for crypto that doesn't involve scamming rubes, tax evasion, money laundering, etc?
Comment by Fiddle_Dork at 24/11/2024 at 21:19 UTC
2 upvotes, 1 direct replies
Of course they can limit trading. See South Korea
They can also limit mining. Mining hardware is specific. They can simply put limits on the import and sale.
The article didn't say eradicate. It said "limit" and that's exactly what would happen
Comment by Psychological_Ad1999 at 24/11/2024 at 21:52 UTC
1 upvotes, 1 direct replies
The criminal organizations around the world stabilize the value. Buying crypto is betting on organized crime.
Comment by pre30superstar at 24/11/2024 at 19:42 UTC
1 upvotes, 0 direct replies
lmao