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Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization

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Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization

Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization






A CIA World Factbook entry listing nations? current account balances shows that big economies and near-failed states share something in common ? massive debt. This liability making them strong cases for hyperbitcoinization, which could be exacerbated by an anticipated global economic slowdown.
Also read: Governmental Overreach in Developing Nations Will Hasten Hyperbitcoinization
 Debt-Ridden Economies Prime Cases for Hyperbitcoinization
Hyberbitcoinization theorists have little faith in the fiat establishment. They believe that state authorities, who control national currencies, will erode them to a point where citizens will be forced to ditch them for bitcoin, resulting in entire countries being powered by peer-to-peer decentralized currency.
The hyperbitcoinization theory (H-theory), published by Daniel Krawisz of the Satoshi Nakamoto Institute in 2014, predicts that bitcoin will lead to demonetization of curreAmen ncies that will lose value, as people settle for bitcoin as a superior option. Bitcoin will be attractive as it is not subject to capital controls, maintains value as fiat currencies erode, and is an inclusive financial instrument into other economies.

Though purely numeric, the CIA list, running up to 2017, details governments? long-standing habits, from the heavy-borrowing, war-like giants at the bottom, to struggling ones in the middle and disciplined spenders at the top. ?Current account balance compares a country?s net trade in goods and services, plus net earnings, and net transfers to and from the rest of the world during the period specified,? the agency explains in regards to the criterion of the list, which is calculated on an exchange rate basis. The U.S. sits at the bottom of the intelligence agency?s list with a negative balance of -$466.2 billion, just beneath the U.K which is also wallowing in borrowed affluence with a balance of -$106.7 billion. India, Canada, Turkey, France and Australia make up the bottom eight with 11-digit negative balances.
Citizens commonly bank on their authorities to painlessly manage debt and forestall dramatic ripples in their own lifestyles. Governments, in turn, are given to their habits, from shoring up geopolitical hegemony and staging spectacles in endless wars, to printing money for bloated civil service payrolls and punishing the poorest citizens with austerity when the day of reckoning arrives.
Fiat Currency Overlords Leave Citizens Poorer
Since Jack Ma criticized the U.S. for blowing its fortune on war at Davos, the country has failed to sizeably reduce its military footprint and in fact gotten closer to confrontation with military giants like Russia, China and North Korea, with potential proxy battle zones like Venezuela emerging. The national debt incurred by the military-industrial complex is ultimately spread across households, with taxpayers on the hook for trillions of dollars of spending.
The U.S. is also notoriously oil-intensive, with 50 percent of its consumption goin...
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Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization Heavy Borrowers and Near-Failed States Likely to Drive Hyperbitcoinization
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Fuente de la noticia: news-bitcoin
Fecha de publicación: 10-02-2019 21:16
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