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I personally think that BitCoin as a concept is too big to succeed. It will scare governments and they'll ban trading in it.
by matthewcford 15y ago
I personally think that BitCoin as a concept is too big to succeed. It will scare governments and they'll ban trading in it.
- jonnathanson 15y agoMore likely, they could run a bunch of PR campaigns and plant news stories about how risky and unstable Bitcoins are -- either in an attempt to scare consumers away from the currency, or to actively destabilize the speculative market for the currency. "Banning" the currency seems beyond the reach of a government unless it's prepared to place restrictions on internet usage in general (a la the PRC). This is because, even if the U.S. government (for example) were to declare that dollars are no longer convertible with Bitcoins, people could still trade dollars for BCs, and vice versa, under the table.
- getsat 15y agoYou just described part of the plot of "A Lodging of Wayfaring Men". Highly recommended book!
- matthewcford 15y ago> declare that dollars are no longer convertible with Bitcoins Yes, what I was trying to get at (not banning the transfer of BTC). While trading could move underground, making it illegal would probably deter enough people. Should most governments adopt a similar stance, then it would be nothing more than a collectors item.