You would seriously have to be a major fool to believe that any government and their corporate cronies are going to sit idle while this new world order blockchain is going to get built out and around them to bring them down. As I am typing this right now they are all looking into blockchain, once they have it down pat they are going to pass regulations to which will put the crypto's being build on ponzi style schemes out of business, force the rest to come into compliance or they will go to the headquarters of the privately held companies, to which steemit is privately held, and prosecute the owners. You are just to silly for yourself sometimes. There is no such thing as a untouchable. Dream on.
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OMG don't tell me you could be that simple minded. The government(s) set the rules/laws. Law enforcement enforces them. There basically still is a mafia...it's just that now they know their limits, they got put in their place.....they don't get to make the rules, they don't get to rule. The powers that be do that and sometimes people just happen (not that I agreeing with it all) to have to be reminded of that. It's I say you do, not I do and f you...is that getting any clearer?
You are so dreaming, I guess the prisons will just fill up with those creating blockchains to manage their crypto's through. What you don't understand is that eventually that technology will be taken, the governments are not going to allow anyone but themselves to run the monetary system in the world, anyone moving forward to build opposing monetary blockchain systems will go to prison, one right after the other, they will find a way. The analogy about the mafia was that they decided to set up their own distribution and protection system which required others to pay into it from their profits. They tried to control the flow of goods and services. Yes it was not technology linked, of course, but it shows you what happens when other forces try to set up their own system over the governments.
You sir can sometimes be a ordinary foolish one, yes you will not stop everyone but you will stop the vast majority and that's what will limit the power behind unregulated blockchains/crytos. What happened when people started pirating music?...did the music industry sit there and say it's such a huge and uncontrollable situation that we can't handle? No it did not. It started arresting the little johnies stealing their music and prosecuting them. What happened in our state after our governor upped taxes on cigarettes and people started ordering them from out of state on their computers? Did she just say well it's just so vast and wide a problem we can't get a grip on it...no she didn't, she went after them and filed charges against them. You see your problem is, and from being on here I can see why because there is no lack of people like you, that there may be people who want to rebel and will give up life and liberty for their cause but the very vast majority of people won't and they will just go with the flow, because they are content with what they got not what they won't have when the government gets done with them.
Why don't they ever regulate something that actually fills up the dockets at the courthouse?.....because it's not a threat to the powers that be yet. Duh. The bigger question answered is see those things do end up in a court of law, you must have missed the article the other day concerning some cypto being recognized because basically the lawsuits being brought forth can't proceed if what was claimed to be lost couldn't be traded or have value to justify the losses being sued for. (It was complicated) But now the lawsuits can move forward. It's easy for you to sit here and blabber on and on because you aren't the one who would eventually be left to face the music as they say.
You did miss the article. Okay, that crypto can now be traded on the open market, as in stock exchanges, meaning now they DO have to follow REGULATORY guidelines, (I'll give you a minute to say ouch and recover)....the reasoning being is that these losses/claims being filed in courts couldn't move forward because without there being a recognized value attached there couldn't be any claims of damages brought forth. So yes this has become a significant issue, so yes this is a small step forward, so yes people running crypto currencies will slowly face the possibilities of being regulated and sued, so they had better get their ducks in a row.
OMG, Steemit is a PRIVATELY HELD COMPANY, those running the company are directly responsible for following regulations. It wasn't a judge but someone on a regulatory committee who approved a crypto currency to trade on the open market, to bring it under regulatory controls, because so many claims for losses were being filed, in order to address those losses there had to be recognition of it to have value, once value is confirmed people can file against people who start their own crypto currencies founded companies. So, and just for example, say someone sues Steemit because they lost thousands of dollars for being flagged like this guy claimed for no real good reason, and because Steemit owners allow this to happen that person can directly file suit against the owners of Steemit because they are the one's in control of how it is structured, the way they structured the program led to the losses. Flagging is meant for a purpose not for a revenge tool, if Steemit continues to let it be abused for ways other then it was intended they could potentially be held liable if Steem were also added to the open market.
Do you also understand that 19 witnesses get together with those who structure the programs to find ways to come into compliance so they don't have to go to jail, spend all their money defending themselves...and that would only be if the feds didn't freeze their assets. I mean really man makes some sense, do you think that dozens upon dozens of people want to disrupt their lives, lose their fortunes, just so some guy can abuse a flagging system in a way that was not intended? Really? Honestly? I know 19 witnesses who'd rather give up being a witness and call it good.