Authority and cryptos
It seems that regulators still do not give permission to accept cryptocurrency as legal payment system. The delay of libra prooves that financial services are affraid of their bread. That is why they use governments hand to stop crypto projects into mass adoption.
How about paypal decision to accept cryptocurrency? That is a big deal but I think paypal system will not allow crypto bring decentralized in the wallet. Regulators will take action when cryptocurrency over take old financial services because cryptocurrency can be tax free. It is a big problem for authorities to have no income from tax.
Will cryptocurrency remain illegal tool for public transaction? That question should not be answered. Crypto community answers with actions. They keep developing dapps that more people are attracted day by day.
Will cryptocurrency ruin existing economic ecosystem?
That is a silly question. Cryptocurrency will not ruin anyone but will ruin old capitalists. Their well of printing money will be removed by decentralized system. Look at the world of cryptocurrency, does cryptocurrency cause or increase pooverty? You know the answer. New billionares are coming from crypto sphere. New jobs are opened, new income streams are created from cryptocurrency. Thus who suffered from lost due to developing of crypto world? They yes they are .... .
Paypal plunges into crypto ocean is not good news for cryptocommunity. New invention of dapps is a good news.Like or dislike banks and financial corporation should accept cryptocurrencies if not they will become legends and burried under the growth of dapps