U.S. traders are buying 'digital residency' in Palau to skirt restrictions on the amount of cryptocurrency they can withdraw and the exchanges they can use. Major exchanges have already banned the ID, fearing abuse.
A small bit of inflation encourages people to spend their money and keep the economy moving. Because if your currency is going to be worth more tomorrow than it is today, your incentive is to hoard it and mever soend a dime unless absolutely necessary.
Way more people have lost everything because where they keep their cryptocurrency went under than their bank freezing their accounts. Banks only close your account if they suspect you are doing highly illegal and fraudulent stuff. And of i forget my credentials, my bank has a process where i can access my money again after 5 minutes of KYC. If someone DOES fraudulently access my account without my authorization, the bank will fully restore my account and go after the fraudster.
I dont trust the US goverment any more than you do, but Uncle Sam isn’t interested in what his greenbacks are worth compared to other currencies. All he cares about is that i pay my taxes in USD.
You posted all that text, and still haven’t given an actual example of where cryptocurrency out performs USD for someone just going about their daily life.
A small bit of inflation encourages people to spend their money and keep the economy moving. Because if your currency is going to be worth more tomorrow than it is today, your incentive is to hoard it and mever soend a dime unless absolutely necessary.
Way more people have lost everything because where they keep their cryptocurrency went under than their bank freezing their accounts. Banks only close your account if they suspect you are doing highly illegal and fraudulent stuff. And of i forget my credentials, my bank has a process where i can access my money again after 5 minutes of KYC. If someone DOES fraudulently access my account without my authorization, the bank will fully restore my account and go after the fraudster.
I dont trust the US goverment any more than you do, but Uncle Sam isn’t interested in what his greenbacks are worth compared to other currencies. All he cares about is that i pay my taxes in USD.
You posted all that text, and still haven’t given an actual example of where cryptocurrency out performs USD for someone just going about their daily life.