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https://imgur.com/a/KDwtE https://imgur.com/a/KDwtE As relevant as ever
by iopq 10y ago
https://imgur.com/a/KDwtE https://imgur.com/a/KDwtE
As relevant as ever
- jazoom 10y agoThat's very clever. Thanks for sharing.
- erikpukinskis 10y agoI wouldn't be surprised. Won't be an existential issue for Bitcoin though (beyond the temporary 2-5x price drop). Bitcoin doesn't need national approval to succeed. It will thrive in some jurisdictions and not in others. Nation states have the most to lose, since they draw so much of their power from the ability to manipulate currency, so we should expect to see a lot of attacks on Bitcoin by them.
- closeparen 10y agoNations can prevent their banking systems from interacting with exchanges. It should be easy enough to transfer value to citizens of restrictive countries regardless of the government's position; the trouble is the citizens' ability to transfer value out.
- erikpukinskis 10y agoBanks are just one of many ways to get credit denominated in Bitcoin. The point of Bitcoin is that your cousin Lenny can act as your bank.
- closeparen 10y agoYour cousin Lenny had to get his BTC somewhere, with either an exchange or a mining rig in the path. States can make both of those paths very difficult - paying the exchange could require smuggling cash out of the country, and anomalous electric usages are already used to identify marijuana grow operations.
- hobarrera 10y agoNote to self: Start rumor that china is banning bitcoins before buying any.