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Title should be "cracking down on Bitcoin exchanges", I don't think they can crack down on Bitcoin proper.
by d0lph 9y ago
Title should be "cracking down on Bitcoin exchanges", I don't think they can crack down on Bitcoin proper.
- elmar 9y agoBitcoin can only be slowed down not stopped other centralized cryptos like Ripple can be shut down.
- this_user 9y agoThat would be difficult indeed, but you could certainly crack down on exchanges, payment processors, miners and generally every company dealing with crypto currencies, including banks. That would greatly cripple their usability.
- d0lph 9y agoI also think you could move most of that to a Tor onion service.
- skybrian 9y agoWithout well-known exchanges, it would be a lot harder to cash in your chips. Particularly for large amounts.
- aviv 9y agoExchanges are Bitcoin's weakest link.
- bitcoinboi9 9y agoDistributed exchanges have no weakness.
- lalaland1125 9y agoThere are no distributed exchanges for exchanging cryptocurrency to/from fiat. (Unless you use localbitcoins, but that has other issues like being mugged for all your money).
- russdpale 9y agoBisq does it.
- gruez 9y agobisq is closer to localbitcoins than it is to gdax. there's no central orderbook, and orders aren't executed in real time.
- d0lph 9y agolocalbitcoins is a legit solution, I'm pretty sure we could resolve the issues around it. Mugging is an easy one, meet in public. A Tor based exchange is not distributed, but I think the way to go.
- UncleMeat 9y agoI can't believe this. Develop a worldwide distributed network. List fast and cheap international transfers as a major selling point. Say that the most effective way of entering or leaving this network requires physically meeting somebody and exchanging cash. How is this not seen as an outrageous problem?
- d0lph 9y ago> Say that the most effective way of entering or leaving this network requires physically meeting somebody and exchanging cash. Missed the part where I said that, perhaps you could point it out? We are discussing a world where bitcoins are illegal, obviously the solution will be a bit sketchy.
- monkeyfoop 9y agoWe don't need paper to trade. I get paid in Bitcoin Cash and same with my employees. Buy and sell goods for BCH. Why is there a need to convert to these papers, metals (, and cotton, etc)? Don't see why I should pay above a 1c fee to send money from point A to point B. Also do not understand why I must drive to an ATM where usually homeless people sleep.
- astrodust 9y agoYes, distributed drug dealing networks have no problems with the law, and competition is never an issue.