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No. We have historical precedent : https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102 The only thing it di
by Frogolocalypse 9y ago
No. We have historical precedent :
https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102
The only thing it did was increase the value of gold. And our world is far far far more able to circumvent any order like this, as any wealthy person storing their money in panama will tell you.
Bitcoin is the reckoning for that belief. Rather than discuss the reason for the failure of their fiat system, which is what they're discussing right now, they want to restrict your freedom of exchanging the fruits of your labor for tokens in a system outside of their control.
Freedom isn't about you asking the the government what you can do. Freedom is about the government asking your permission to govern in the interests of their constituents. If they can't convince you to use their token, they should start working now to come to a resolution that respects the rights of the people who choose not to buy their token for anything other than taxes.
- kasey_junk 9y agoA counter argument https://en.m.wikipedia.org/wiki/Confederate_States_dollar https://en.m.wikipedia.org/wiki/Confederate_States_dollar
- Frogolocalypse 9y agoThat isn't really a counter to any argument I'm making. If anything, it supports my argument. The government that supported that fiat ceased to exist, therefore the fiat ceased to exist. Sounds like a pretty good example of the dangers of fiat, and the advantages of a decentralized store of wealth.
- kasey_junk 9y agoOwning a particular currency was made illegal by a government. That government enforced that policy by force of arms. That currency ceased to exist. Ergo it is not ignorant to claim that s government can eliminate a currency & quite the opposite it’s ignorant to say its impossible.
- Frogolocalypse 9y agoMaking it illegal didn't make people not have it, just like the gold executive order, so that hasn't proven your case. Making the government cease to exist and therefore ceasing to be redeemable only proves my case.
- colordrops 9y agoThey could eliminate it because it had a central point of control. There are over two hundred other countries and a black market that can't be stopped even if the US outlaws Bitcoin.
- jacquesm 9y agoWhat it also did was transfer a lot of gold from private individuals and corporations to the government.
- Frogolocalypse 9y agoYes. I expect at some point the wealth stored of bitcoin on exchanges will be too great a temptation for some governments. All the more reason to ensure you don't store your bitcoin on an exchange.
- jacquesm 9y agoIt's funny, what the US did there isn't all that different from what the various Sovbloc countries did when they forced people to exchange their 'hard' currencies to the local currency at some ridiculously low exchange rate.