Why bitcoin’s success could be its downfall
Digital currencies have been front-page news as the value of bitcoin, the most popular of the cryptocurrencies, continues to surge, albeit with wild fluctuations. Bitcoin backers argue that once digital currencies become widely used, governments will be unable to destroy them — users simply won’t allow it.
This view falls short on two points. First, digital currencies, even in their current form, are a bigger threat to national governments than most people currently understand.
Second, bitcoin’s success would also be its downfall. As bitcoin gains popularity, and especially if it stabilizes in value, it becomes a viable substitute for government-backed currencies.… Seguir leyendo »