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I think things like bisq would be pretty easy to shut down of the government wants to, because fiat transfer is always government controlled. Step 1: make a la
by theamk 7y ago
I think things like bisq would be pretty easy to shut down of the government wants to, because fiat transfer is always government controlled.
Step 1: make a law declaring it illegal. Step 2: have undercover cop attempt an exchange, then arrest/fine the other party. Step 3: repeat until no one wants to exchange anymore.
Sure, it wouldn’t be fully effective - the illegal drugs are still around, after all - but it will be annoying enough that all legitimate uses will disappear.
- dwoozle 7y agoYeah, many cryptographers forget about the XKCD “hit him with this $5 wrench” approach that governments can take.
- adim86 7y agoWouldn't this approach fail if there becomes a mainstream cryptocurrency, let's say Libra for lack of a better example. Where you can keep converting and switching wallets (laundering) or just buy something that has no ties to you and it would be hard to track? Like you rightly pointed out, the govt control over fiat, but that control is continually being threatened every day
- theamk 7y agoA hypothetical Libra-like thing will be even easier to control. There is a single developer org - and it can be trivially compelled to add trackers, blacklists, backdoors or whatever government wants.