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Keep Your Hands Away From The Cryptocurrency, Economist Says Governments Around The World mine maydongphucbenhvien.com




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Title :  Keep Your Hands Away From The Cryptocurrency, Economist Says Governments Around The World
Lasting :   8,57
User :  Doukree
Date of publication :   2019-09-09
Views :   801
Liked :   528
Downloaded once :   112


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Description Keep Your Hands Away From The Cryptocurrency, Economist Says Governments Around The World

The well-known economist and editor-in-chief of the American Institute for economic research (AEIR), Jeffrey Tucker, called for governments and Central banks around the world continue to let the idea of creating a state-backed cryptocurrencies, and, instead of the fiat system and the banking system.

"Leave Crypto Alone"

In an editorial published in AEIR, Tucker said that the growth of the cryptocurrency-scene and the associated infrastructure are the prerogative of the private, of the innovation and of the company, and the governments should not be involved in this area.

Speaking of the efforts made to regular crypto currencies and put them under the control of a government, closely, Tucker is of the view that these efforts run directly counter to the stated aim of cryptocurrencies is that the end of a monopoly on money.

To explain this point, he said:

“I'm not a believer. No competition on the market. You could be the opposite of the declared aim, is not the end of the monopoly. Really competitive, the competition is just now starting to exist in a field long monopolized by governments Through decentralized accounting, the technology and some important new features for creating digital money and banking solutions — the technology uses peer-to-peer and demands of the government, or to the agent for the application and you will begin to see that this would be the true currency-like."

In Tucker, the increase in the state-controlled monopoly of the money supply in the course of the last century wars led to world economic crisis, the steady inflation, high government debt and the large bureaucracies of the government depends on quantitative easing, the finances and the flu.

Cryptocurrency, he says, "the biggest concern of money and financing of the planet", in a way, the governments have made, not your hands and smothers emerging success story that shows to one of its perceived shortcomings, in particular, the wide range of opportunities available, and the failure rates are more or less comparable with small businesses.

In his words:

"Take only the most expensive regulation, and is likely to end up with the establishment of the competition caused".

ECB disputes in the room

Tucker has been attacked, also the project "the ECB is the amount of money" cryptocurrency timidly summoned by the European Central Bank (ECB), stating that such an approach would be useless and potentially unmanageable. Status-backed cryptocurrencies, he said, would be a workaround for a problem that does not exist. According to him, the way the authorities expressed their support for the technology of the blockchain is, don't try to reinvent the wheel, but simply to create a framework that is light-touch legal framework, in order for these innovations to thrive in it.

To go further, has expressed the desire to increase for the European monetary authorities for the reform of the European financial system and the competitiveness through deregulation and the removal of regulatory obstacles to the entrance. In particular, a return to the gold standard called for, instead of the current system of fiat. All of these, he said, would be to try very much more effective uses of normative power, the elbow crypto-market.

He has also planned Bolivar state crypto criticized -- petro-describes it as "a cryptocurrency, but more of a oil to run the output of the debt, only to turn around the trade with the United STATES sanctions." This and other attempts on the part of the government-backed cryptos, Tucker said, it will never work, as the crypto market rewarded the parties that appeal to the desires of the market, and not the control of the official.

In summary, it can be think on the fact that the government in crypto, he says:

“If the private sector is to be innovative, the government and the Central banks should leave you alone. And even better: if you are not too good, and you have no contribution to valuable, it is not possible to change."

Immagine vedette de Gage Skidmore/Flickr



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