- Oct 4, 2013
That's my problem with Bitcoin and always has been. It's backed and guaranteed by nothing. I understand its advantages, but it still seems like blue sky. Especially after the CBOE discontinued futures trade in bitcoin. What I was wondering and still am is if govt. regulations come into crypto markets, will bitcoin be affected or even possibly wiped out because it's not backed by any tangible asset.As for governments rolling out their digital currencies, it is good news for Bitcoin .
Probably bad news for stable coins ( cryptos pegged to a currency, like USDC, dai or tether who are worth 1$ ), as government backed digital currencies will probably replace them.
Good news for the oracles, smart contracts , defi, orientated cryptocurrencies, as the whole space could go mainstream.
I found Nals posts of all of the bitcoin exchanges interesting. I was unaware there were so many in so many different countries.. That says something for bitcoin and its popularity for use. I guess if there are enough people using it as an alternative type of currency, it may flourish as Governments continue to move forward with cashless societies. I believe the DR would have extreme difficulties as will other free countries introducing a digital currency that will be accepted by its people, but who knows.. My crystal ball quit working decades ago..