I agree man... that article from the Harvard Economist is some serious bunk taskmaster4450.

Central banks will definitely either try to go to war against crypto, or try to appropriate part of the utility of blockchain somehow, but it is not a question of allowing or disallowing mainstream adoption IMO. Bitcoin’s network and utility means it can’t be disallowed, it can only be made irrelevant through catastrophic price depreciation, which doesn’t look like it’s gonna happen if history is any indicator.

I think that as the things people take for granted are taken away from them one after another, there will reach a point when they'll finally rebel, and that is where crypto will shine. It is literally the power to opt out.
I wrote about the disruptive power of crypto today, along with a description of how I bought coffee with some hive 😂 We're still at the point now where the majority believe in the sovereignty of the legacy financial system, but this can quickly change...

Belief in a social system, belief in a government, belief that banks and big business have your best interests at heart - these are all a question of belief. But what happens when the systems that people have put their faith in all their lives show themselves to be rigged? First, people revert to herd mentality based upon fear. This is how kings, religions and political groups throughout history have guided the narrative. But after a certain point we reach the fulcrum, a place where the weight of belief is overcome by increasing contradictory facts, and this is when the scales can shift. All it takes is for the majority to place that belief in decentralized finance to see a fundamental change in what constitutes value, and it is probable that we see this tipping of the scales in our lifetime.

What gives any currency value? It used to be a gold peg to the dollar. Here in the UK where I live it was once a silver peg. Not anymore. The only thing that gives it value is the belief of the people using it, and with increasing better options, I can see the mainstream either sliding slowly over as crypto becomes better economic sense, or it could go supernova with massive economic and social upheaval as you describe. Either way, central banks won’t be stopping the actions of people realizing they have an immutable option for storing and transacting value.

May we live in interesting times... ha ha, I think we already do 😂

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