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RE: BLOCKCHAIN AND CRYPTOS - Will they liberate or enslave humanity?

in #cryptocurrency7 years ago

Interesting article, Thanks @albertoyago!
I don't think that cryptos make it easy for governments to control everything. Pretty much all the things you said relate more to the current system than it does to crypto. It is with a centralized system where the party owning it has full control. Since no one owns bitcoin, there is no possible way for a government to seize or freeze your funds. It's not possible for them to block you, it is completely censorship resistant and decentralized. The only thing that is possible with Bitcoin, is that they track your spendings. But this is taking a lot of time if they'd want to do that for every one using it and if you have something confidential, just use Monero. If you ask me, cryptocurrencies are currently the best option, to overcome centralized control, censorship, and corruption. What you described as Fedcoin could also be achieved by keeping the system as is and remove cash as means of payment, so everything is processed electronically and logged within the central system and has to pass through it to be processed, thus giving the owner maximum control and insight into all transactions. Let me know what you think & thanks for your great post! Cheers