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Sorry to burst your bubble, but if a government wants to prevent you from using a cryptocurrency it has many tools at its disposal. Firstly, they control the gr
by nexthash 6y ago
Sorry to burst your bubble, but if a government wants to prevent you from using a cryptocurrency it has many tools at its disposal. Firstly, they control the ground upon which you stand. If they don't like that you are using crypto, they will simply arrest you and charge you with a newly-formed crime like 'digital tax evasion'. Secondly, if they can't find who is using crypto, they have the power to shut down the Internet or simply censor requests. No ISP has the military force to prevent a government from walking through the door and cutting the cable.
Point is, as long as you are on their turf, you will follow their rules. Unless you want to make your own rules, in which case you will have to fight the government, become the government, and realize that having no control over a currency being used in your turf can be really bad for you and your citizens. You have no control over its value to at least try keep the economy stable, and they will have nowhere to turn in event of a financial crime or scam. No courts, no recourse, no trust.
- randomopining 6y ago1. As larger entities are getting into it, it will decrease the chance that the government cracks down. 2. There are obviously ways to transact anonymously, also P2P/OTC. 3. The government gets to tax all exchange crypto... easy revenue source.
- catmanjan 6y agoHow do you transact in crypto without internet? Maybe that's musk's long term plan with satellites
- randomopining 6y agoWhat about encryption?
- nexthash 6y agoYou don't seem to get it, do you? Your government decides it can't regulate crypto, so it bans it. People use crypto anyway. Government raids telecom and puts filters on Internet. People use encryption. Government shuts down Internet. People use satellite internet. Government make penalty for using crypto a life sentence, because they can. Drives around with vans detecting sat signals. You can't fight them on their turf.
- RhodoGSA 6y agoYour government can ban bitcoin, but every government would to ban it otherwise you are going to just piss off your populace. They'd also never be able to spin the internet back up without bitcoin spinning right back up with it. Also, Tesla is an s&p 500 company. If they made Tesla lose 1.5B for some philosophical argument about control they would crash the market.
- randomopining 6y agoHow do you shut the internet down when the economy runs on the internet? Lol. I don’t think you’ve thought this through, even though you’re so adamant.
- deleted 6y ago[deleted]