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RE: THE BLOCKCHAIN (meandering thoughts)

in #bitcoin7 years ago

To whatever extent they don't like it, they also know that banning it doesn't actually make it go away.

Unfortunately, as you know, to buy and sell cryptocurrencies, probably the most convenient way is to perform a bank transfer. Bank accounts are already controlled by governments, so moving money between fiat and bitcoin will always cause trouble for that reason. Directly paying for products and services in crypto is what we really need to achieve. However, if anyone really thinks that governments will just sit by idly watching a mob overturn their national currency into something else, think again. Their web of control extends far more than we can ever imagine and you can be certain that they will criminalize the possession and transfer of Bitcoin if it ever becomes the dominant currency.

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Well, regulations like "you can't do this with your bank account" would be more about regulating banks and what they can be involved with than it would be banning Bitcoin itself. In this case, you'd still be able to use the Bitcoin network, and as you say buy things directly.

This would probably just hurt banks even more.

However, if anyone really thinks that governments will just sit by idly watching a mob overturn their national currency into something else, think again.

Meh, I mean if there's no alternative, what else should they do? Do you think the fiat system will last forever?

Without Bitcoin it would just be more obvious that the whole thing was a ruse and was never going to end well.

All it would take is a government to have a decent little stockpile of Bitcoin (especially if it's a government who doesn't currently have one of the bigger fiats) and then they don't have any reason to want it to go away.

Bank accounts are already controlled by governments, so moving money between fiat and bitcoin will always cause trouble for that reason.

By mentioning trouble I meant taxes. If you want to exchange two currencies such as euro with dollar, no matter what, you just don’t pay any taxes including forex acc, if you happen to have any profits. Why it is diferent with bitcoin? You see what’s the diference? It’s this whole decentralized system. Goverment doesn’t like decentralized, otherwise they would tread it just like any other currency.