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Seems to me that in the short term, as long as cryptocurrencies keep getting used to move money out of non-western countries (India and China amongst others), i
by lumberjack 9y ago
Seems to me that in the short term, as long as cryptocurrencies keep getting used to move money out of non-western countries (India and China amongst others), into western countries, there is no reason why western governments would want to hinder such activity. At the same time I wouldn't be surprised if China and India try to ban them, although with all the rampant corruption at all levels of government, that might prove very hard to enforce for both of them. With regards to Russia, I don't know what to think.
Am I wrong in thinking this?
- kang 9y agoAs you mentioned, since money trickling out cannot be prevented after this invention, a better bet for India and China is to incubate home projects that can attract foreign money and hope it is more than spending. People who spend more than the value they create for humanity, are doomed in long-term.
- marnett 9y agowhere, exactly, do you think the miners for bitcoin are located? Hint: China
- wmf 9y agoAnd it's widely speculated that those Chinese miners exist only to convert yuan to offshore dollars/euros, which is contrary to Chinese government policy.
- sanmon3186 9y ago> move money out of non-western countries (India and China amongst others), into western countries I lost you there. Isn’t it moving in all directions?