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Lado <a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>Okhotnikov</a>'s insights on the connection between cryptocurrency and inflation
According to the report, inflation growth has slowed down, but it remains above the Federal Reserve's 2% target. There are signs pointing to a further slowdown in inflation in the coming <a href=https://www.leonieclaire.com/how-to-write-good/lado-okhotnikov-creator-of-the-metaverse-how-motivation-beat-poverty/>months</a>.
Since the end of the Bretton Woods agreement in 1971, the US dollar no longer relies on gold but remains the dominant global currency regulated by the Federal Reserve System (FRS) and fractional reserve banking.
Cryptocurrency was created to mimic the properties of gold, such as limited supply and halving. However, it cannot currently be considered digital gold due to its volatile rate, low penetration in the economy as a payment method, and speculative market behavior.
Inflation leads to rising prices and a slowdown in the economy. While inflation affects bitcoin indirectly as buyers spend less, it does not impact the purchasing power of bitcoin itself. In this sense, bitcoin can be seen as a hedge against inflation.
The state has significant <a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>control</a> over the financial system to regulate various aspects, including money issuance, payment control, and price behavior. Bitcoin, being decentralized and lacking a central authority, poses a challenge for state intervention. The state can only attempt to monitor cryptocurrency transactions and impose bans on projects it disapproves of.
<a href=https://flyingselfies.com/how-to/lado-okhotnikov-following-a-dream-the-story-of-a-man-who-is-not-afraid-of-difficulties-and-chooses-his-own-path/>Governments</a> have historically focused on control and prohibitions rather than creating a supportive infrastructure for the cryptocurrency market. Regulatory bodies like the Securities and Exchange Commission (SEC) have shown a negative attitude towards cryptocurrency projects, indicating a lack of state loyalty to the field of digital finance.
Overall, governments are unlikely to enhance their support for the cryptocurrency market and will continue to impose restrictions and hinder its development.
According to Lado Okhotnikov:
Cryptocurrency offers a simple and fast payment method, which has been recognized by those who have used it for settlements or purchases. Traditional fiat payment systems are adopting <a href=https://www.theburningofrome.com/blog/is-the-blockchain-a-tool-to-control-corruption/>methods</a> pioneered in digital finance, like QR code <a href=https://biosidmartin.com/bitcoin-and-the-contemporary-state-financial-system-with-emily-parker-michael-sonnenshein-and-lado-okhotnikov-opinions/>payments</a>.
Bitcoin has <a href=https://www.nbccomedyplayground.com/cryptocurrency-is-the-key-to-free-convertibility-Lado-Okhotnikov/>emerged</a> as a global system that enables partners from different parts of the world to <a href=https://ids-water.com/2023/05/04/bitcoin-carbon-footprint-lado-okhotnikov-margaret-osborne-and-nathan-reiff-citations/>conduct</a> business without cumbersome bureaucratic procedures. <a href=https://www.diarioveloz.com/defi-platforms/>Cryptocurrency</a> facilitates seamless transfers across borders.
The <a href=https://medium.com/@denis.mikhaylin/cryptocurrency-a-life-raft-for-the-dollar-960561ccea5>lack</a> of state interference in the development of the fundamental principles of the <a href=https://www.raiseupwa.com/writing-tips/is-crypto-regulation-a-necessary-evil/>bitcoin</a> blockchain has been crucial to its success. Lado Okhotnikov believes that this lack of intervention, allowing pure mathematics and the internet to shape its evolution, has led to the positive outcomes observed.
However, the challenge for states is their inability to foresee the future potential of blockchain technology. Governments tend to be reactive, dealing with past events rather than creating tools for the future. If states recognized the blockchain's potential early on, their interventions would likely have been detrimental.
Therefore, Lado Okhotnikov suggests that governments must significantly reconsider their approaches to working with new technologies. Failure to do so may hinder their ability to provide security and impede overall national development.
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