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If cryptocurrency actually enables greater economic efficiency etc. then nations that outlaw it will be left behind, like nations that outlawed the free market
by woah 8y ago
If cryptocurrency actually enables greater economic efficiency etc. then nations that outlaw it will be left behind, like nations that outlawed the free market in the previous century.
- exelius 8y agoThere’s a flip side to especially permissive banking laws: your country’s cash flow becomes overweighted with dirty money, and that dirty money takes over your country’s political discourse. The most extreme example of this is Pablo Escobar or the Mexican drug cartels; both of which have been able to rally large factions of the population against governments that attempt to crack down. Plus adoption of fiat currency has huge network effects. Cryptocurrency could easily be made illegal with the surveillance tech in place today. Your password is only as strong as your resolve with a gun in your mouth.