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This is obviously the way. Sovereigns will assert their control on any monetary asset. They have, they do and they will. It is not that far of a leap to consid
by siculars 6y ago
This is obviously the way. Sovereigns will assert their control on any monetary asset. They have, they do and they will.
It is not that far of a leap to consider a timeline where all wallet addresses are simply registered and crypto assets lose their fungible quality. Assets in registered wallets will simply not be relayed to unregistered wallets. That simple. There will be an international wallet address clearing house. Hey Coinbase, want to keep your license to operate? Comply. Paypal? Comply.
You know this is coming. If you don't know, look up all the rules dedicated to banking and securities. Or simply remain blissfully unaware. They won't ban the technology. That's too pedestrian and 1934.. err 84. They'll simply control how you can use it.
The question is how does the crypto asset community rally to head this inevitability off at the pass.
- ur-whale 6y ago>It is not that far of a leap to consider a timeline where all wallet addresses are simply registered and crypto assets lose their fungible quality. Assets Monero, ZCash, Grim, Beam are specifically designed to thwart that scenario. The day what you describe actually happens, they will replace Bitcoin.
- siculars 6y agohttps://www.fincen.gov/sites/default/files/shared/Notice-Virtual%20Currency%20Reporting%20on%20the%20FBAR%20123020.pdf https://www.fincen.gov/sites/default/files/shared/Notice-Vir... It’s already beginning.
- ur-whale 6y agoThe sheep are trying to jump the fence, no way they're going to let that happen.
- solotronics 6y agoBitTorrent and Bitcoin both use a peer-to-peer model to distribute the data and find concensus, if they can't stop movie pirating how would they stop bitcoin? A bitcoin transaction is just data. Yes the onramp and offramp might become illegal in some countries, I am not sure what exactly would happen to the price then but some historical examples are alcohol prohibition, the drug war, and gold in the US during the 20th century. The price might actually skyrocket if they make it illegal...
- gbh444g 6y agoBy equating bitcoins with CP. Just "data in the jpeg format" is enough to spend half life in prison and the other half in exile.
- bl557 6y ago> Assets in registered wallets will simply not be relayed to unregistered wallets. I find this hard to believe. I think it's more likely that the gov't would treat crypto like fiat, and make it law to report any income in crypto. It's not like you don't have to pay income on any salary you receive as cash, and cash is even moreso untrackable than crypto.
- siculars 6y agoIt’s already beginning... https://www.fincen.gov/sites/default/files/shared/Notice-Virtual%20Currency%20Reporting%20on%20the%20FBAR%20123020.pdf https://www.fincen.gov/sites/default/files/shared/Notice-Vir...