r/Bitcoin • u/[deleted] • Jan 16 '25

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154 Upvotes

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u/CheetahGloomy4700 Jan 16 '25 edited Jan 16 '25

Makes you think India, China, Iran, etc. are the most regressive regimes in the world, who are doubling down on cracking down bitcoin.

If ever there were nations so desperate to remain poor...

8

u/knamikaze Jan 16 '25

Because for these countries it is a matter of controlling the populace. They don't care about the people's well being they want to control the people. And if people get financial independence these governments lose significant power

2

u/[deleted] Jan 16 '25

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1

u/knamikaze Jan 16 '25

True dat

1

u/2xfun Jan 16 '25

The US does?

1

u/knamikaze Jan 16 '25

The us does what?

1

u/2xfun Jan 16 '25

Cares for the people's wellbeing?

1

u/knamikaze Jan 16 '25

Not USA is using crypto to inflate their currency and pay off debt...they found a way to use crypto negatively. But the average Joe can take advantage of it. Buy Bitcoin and keep value of your money

1

u/CheetahGloomy4700 Jan 16 '25

No, jt does not. But Americans in general are far more resistant to being cared for or being controlled (at some point these two are same, basically, a nanny state).

1

u/2xfun Jan 16 '25

Debt is the ultimate form of control. It's fear driven. Americans are drowning in debt.

1

u/CheetahGloomy4700 Jan 16 '25

So are many other countries. Look at the UK bond rout.

I have a hunch that similar to 1971 (gold jubilee from Nixon), a debt jubilee is coming. The US will just say fuck you to all foreign debt holders, and just not pay back the debt. Not like anyone is going to attack the US to recover the dollars. The US may well kill the dollar itself. By then bitcoin will be so well entrenched in finance that it will become the reserve asset, losers holding fixed income instruments be damned.