4 ms·

The US and other government wills outlaw all cryptocurrencies but the ones that they control (“Govcoin,” as The Economist refers to them). Game over.

cracker_jacks 5y ago
You're assuming the US and other government are not using cryptocurrencies for their own covert transactions.
- rcMgD2BwE72F 5y ago
  So what? Many governments have nuclear weapons arsenals but they don't make it legal for everyone to buy or manufacture atomic bombs.
  - kingsuper20 5y ago
    I would expect that the drug production and export business is a more apt analogy.
logicchains 5y ago
>The US and other government wills outlaw all cryptocurrencies but the ones that they control (“Govcoin,” as The Economist refers to them). Game over. Just like how outlawing drugs ended the drug trade.
- jacksonkmarley 5y ago
  Outlawing a thing except for when the govt controls it is just another way of saying governement regulation. Which is both common and successful. When was the last time you drank bootleg liquor? Answer: I don't know of course, but for most people in rich western countries I would think the answer is never.
  - d110af5ccf 5y ago
    It's a good point but that's a particularly bad analogy. Brewing and distilling are strongly culturally ingrained, at least in the west. I live in a state where (last I checked) no legal method exists to distill ethanol for personal use. Nonetheless, a surprising number of acquaintances over the years have had stills and offered me samples.
    - jacksonkmarley 5y ago
      Do you think your local circumstances are broadly generalisable? I would be surprised.
      - d110af5ccf 5y ago
        In the US, honestly, yes. I've had the same experience in two different states at this point and friends who relocated from other places have reported similar. I mean, you can literally order a small still that you use on your stove top from Amazon! I think it just depends on the sort of people you choose to spend time with.
        jacksonkmarley 5y ago
        Well mark me down as dubious but not invested enough to research it. However, I do wonder if you/they test or filter for poisonous impurities like methanol? Seems like a bit of a risk?
        d110af5ccf 5y ago
        Testing and filtering is accomplished by the distillation itself. A very basic understanding of what comes out when is more than enough for a simple pot still and only one or two passes. Humans have been doing that since long before the concept of a molecule even existed. If you decide to mess around with a large fractionating column though, do read up and make sure you have a full conceptual understanding of how the chemistry works. Even seemingly benign chemicals can be extremely dangerous to ingest or handle once concentrated. (For example, vinegar. Dilute acetic acid makes for a good salad dressing. Above 90%, contact will leave you with severe burns and scarring.)
- rchaud 5y ago
  How so? The US has banned heroin, cocaine etc but it never provided a state-sanctioned alternative.

cracker_jacks 5y ago

You're assuming the US and other government are not using cryptocurrencies for their own covert transactions.

rcMgD2BwE72F 5y ago
So what? Many governments have nuclear weapons arsenals but they don't make it legal for everyone to buy or manufacture atomic bombs.
- kingsuper20 5y ago
  I would expect that the drug production and export business is a more apt analogy.

logicchains 5y ago

>The US and other government wills outlaw all cryptocurrencies but the ones that they control (“Govcoin,” as The Economist refers to them). Game over. Just like how outlawing drugs ended the drug trade.

jacksonkmarley 5y ago
Outlawing a thing except for when the govt controls it is just another way of saying governement regulation. Which is both common and successful. When was the last time you drank bootleg liquor? Answer: I don't know of course, but for most people in rich western countries I would think the answer is never.
- d110af5ccf 5y ago
  It's a good point but that's a particularly bad analogy. Brewing and distilling are strongly culturally ingrained, at least in the west. I live in a state where (last I checked) no legal method exists to distill ethanol for personal use. Nonetheless, a surprising number of acquaintances over the years have had stills and offered me samples.
  - jacksonkmarley 5y ago
    Do you think your local circumstances are broadly generalisable? I would be surprised.
    - d110af5ccf 5y ago
      In the US, honestly, yes. I've had the same experience in two different states at this point and friends who relocated from other places have reported similar. I mean, you can literally order a small still that you use on your stove top from Amazon! I think it just depends on the sort of people you choose to spend time with.
      - jacksonkmarley 5y ago
        Well mark me down as dubious but not invested enough to research it. However, I do wonder if you/they test or filter for poisonous impurities like methanol? Seems like a bit of a risk?
        d110af5ccf 5y ago
        Testing and filtering is accomplished by the distillation itself. A very basic understanding of what comes out when is more than enough for a simple pot still and only one or two passes. Humans have been doing that since long before the concept of a molecule even existed. If you decide to mess around with a large fractionating column though, do read up and make sure you have a full conceptual understanding of how the chemistry works. Even seemingly benign chemicals can be extremely dangerous to ingest or handle once concentrated. (For example, vinegar. Dilute acetic acid makes for a good salad dressing. Above 90%, contact will leave you with severe burns and scarring.)
rchaud 5y ago
How so? The US has banned heroin, cocaine etc but it never provided a state-sanctioned alternative.