News for hackers. Stuff that matters.

A comment on Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world. Parent comment

Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by leereeves on Sunday October 24, 2021 @11:11AM (#28978639)
In the event of a serious economic crisis, the government would probably confiscate Bitcoin, like FDR confiscated gold during the Great Depression.

(I know they can't actually confiscate Bitcoin that isn't in an exchange, but they can make transacting in Bitcoin illegal after a certain date.)

[ Parent | on HN ]
Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by smt88 on Sunday October 24, 2021 @02:22PM (#28980577)
Exactly right. As long as BTC needs to ramp off into fiat for most spending purposes, it can be banned.

Importantly, it can also be banned if centralized exchanges are powerful enough and do what the government says.

[ Parent | on HN ]