RE: Why STEEM Is Proving Fear Is Not Necessary: Leading the way Into A Peaceful War
Those who own crypto seem to have changed habits. One is that they don't have to work multiple jobs just to get by. The other is that they don't spend money on a ton of junk because their earnings would evaporate. This new model encourages saving and discourages consumerism.
My biggest worry is that banking authorities will try to infiltrate the crypto community with programmers who are more affiliated with the banking system than with the original cypherpunks who set this up. If they can rewrite the code to include regulatory taxation by convincing the top minds in Blockstream and other prominent blockchain projects that if the system collapses that there will be nothing left to pick up the pieces of the world to rebuild. They are likely to say what good is bitcoin being worth 1 million USD if it takes 1 million USD to buy a loaf of bread. Hopefully the devs will know better.
They will not be able to stop it. People working in the government are just regular people not crazy power freaks out to get you haha. Just regular humans that needed a job.
That kind of inflation would have been brought into being by the government/banks. People would have had to have lost faith in both, much like Venezuela today. And I’d guess that if a loaf of bread went for a million dollars, Bitcoin wouln’t also be a million. It would be at least several billion.