4 ms·

It seems to me you've not thought through the game theory of banning cryptocurrency very much. There's an immediate competitive advantage (in the form of incre

It seems to me you've not thought through the game theory of banning cryptocurrency very much. There's an immediate competitive advantage (in the form of increased business activity & tax revenue) to the first country to adopt clear, consistent rules regards CCs and their use. If a few big countries try to ban it, that competitive advantage becomes even stronger for any country willing to buck the trend.

bayesian_horse 6y ago
For one thing I said there are good reasons to completely ban cryptocurrencies. For another I didn't even say there aren't any good reasons against it. Your reasoning is faulty, because you underestimate the ability of countries to cooperate. The US could probably even enact a virtually global ban on its own. Yes, some countries could try and resist, or some companies (and criminal organizations, of course) but they would be instantly limited to a much smaller market. The only thing nations would have to do is make the interface between the Bitcoin economy and the rest of the economy illegal and too cumbersome. Bitcoin wouldn't die, but it would crash hard.
- hakesdev 6y ago
  >you underestimate the ability of countries to cooperate you,handwaiving all 190+ nation states will go along with AND have incentive to do what the all powerful US says... OKAY, buddy... Also, and please be honest with yourself, would you like to live in where the US unilaterally decides what private property rights should exist and not? I sure as heck hope you don't want that future.
  - bayesian_horse 5y ago
    The US does this all the time with its monetary sanctions. That's why sanctions against Iran and Russia are quite a big deal for these countries. Even nations that don't really want to take part in those measures are affected because their national banks have to do business in the US or with US banks and businesses.

bayesian_horse 6y ago

For one thing I said there are good reasons to completely ban cryptocurrencies. For another I didn't even say there aren't any good reasons against it. Your reasoning is faulty, because you underestimate the ability of countries to cooperate. The US could probably even enact a virtually global ban on its own. Yes, some countries could try and resist, or some companies (and criminal organizations, of course) but they would be instantly limited to a much smaller market. The only thing nations would have to do is make the interface between the Bitcoin economy and the rest of the economy illegal and too cumbersome. Bitcoin wouldn't die, but it would crash hard.

hakesdev 6y ago
>you underestimate the ability of countries to cooperate you,handwaiving all 190+ nation states will go along with AND have incentive to do what the all powerful US says... OKAY, buddy... Also, and please be honest with yourself, would you like to live in where the US unilaterally decides what private property rights should exist and not? I sure as heck hope you don't want that future.
- bayesian_horse 5y ago
  The US does this all the time with its monetary sanctions. That's why sanctions against Iran and Russia are quite a big deal for these countries. Even nations that don't really want to take part in those measures are affected because their national banks have to do business in the US or with US banks and businesses.