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If this is really enforced, it should lead to a huge devaluation of crypto currencies. After all, the reason why Bitcoin was invented in the first place was to
by 13415 5y ago
If this is really enforced, it should lead to a huge devaluation of crypto currencies. After all, the reason why Bitcoin was invented in the first place was to decentralize currencies. Moreover, most crypto wallets should still be offline so a lot of value will be lost of no loopholes can be found.
A crypto currency forced to be managed by centralized authorities is pretty much useless, the equivalent of having a savings bank account in some extremely volatile foreign currency.
I suppose there will be enough loopholes in foreign countries to prevent these negative effects in the short term.
- emerged 5y agoMost of the supposed features of crypto, and Bitcoin in particular, become impractical once the government starts to become motivated to stop it. It’s largely all one big utopian wishful thought.
- testific8 5y agoit is regretable that the bitcoin network and related networks are so dependent on modern computer infrastructure which is controlled by a handfull of institutions. But perhaps it does not need to be this way
- salawat 5y agoThis is why law enforcement and regulators would love nothing more than to have cash disappear and have everything go digital. No untraceable transactions.