careinke wrote: China's recent ban on Bitcoin and Bitcoin mining proved to be a blessing, by further distributing mining throughout the world. China used to mine over 50% of the bitcoin, their ban helped increase mining in the US and other crypto friendly countries, increasing the security of Bitcoin.
I've heard there is still quite a bit of hidden bitcoin mining going on in China. Its just too lucrative for people there in spite of the CCP ban in China.
careinke wrote:Mexico will probably end up taking the same path as El-Salvador and adopt a decentralized currency to meet their unbanked needs.
Perhaps, but Mexico is basically a highly centralized socialist country, with a nationalized energy sector and state control over much of the rest of their economy.......thats why their economy is to screwed up.
Given the centralized, socialist nature of Mexico's enconomy, I'm skeptical that they would decentralize anything.
careinke wrote:
... the US will follow suit and use a 100% dollar backed stable coin (not controlled by the US), as the worlds reserve currency. Hopefully before 2024.
Peace and welcome to WEB 3.
You're way past me with these predictions and very interesting ideas.
I'm so skeptical of the Biden administration I can't see them doing anything constructive or intelligent, so I'll be very surprised if they move the US to a "stable coin" as you are suggesting.
Judging from what they've done so far, it seems to the goal of the Ds is to trigger off massive inflation as a way to devalue the dollar and impoverish the US middle class.
AND I'm assuming the Ds will continue with their current stupid policies until they are forced from office.
Cheers!