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Preventing legitimate institutions from allowing transactions involved with the purchase of the coin effectively bans it. It doesn't matter if consumers can sti
by Afforess 5y ago
Preventing legitimate institutions from allowing transactions involved with the purchase of the coin effectively bans it. It doesn't matter if consumers can still use it, if businesses can not.
- beiller 5y agoHow will they prevent transmitting it to brother Pichai in another country who can convert it to cash and send it back? Or how will they prevent exchanging it for goods, or even exchanging it directly for cash? They will have to ban cash.
- lumost 5y agoThis moves it into a niche for criminal activity, rampant speculators, and gamblers. The purpose of banning a type of financial transaction is to avoid stories where a retiree, or other vulnerable person loses their life savings because they got hooked into a get rich quick scheme. These bans only make sense when it's deemed utterly irrational to participate in the transaction for either all buyers or all sellers. It's pretty easy to understand why someone who has a modest nest egg/retirement portfolio could be pushed into a bet the house situation if they don't understand what they are buying and aren't particularly financially literate.
- beiller 5y agoYeah I totally understand where you are coming from. But to be fair, there is a little uncertainty everywhere today wouldn't you say? Who is to say that the stock market / housing / bond market is the only "allowed investments"? The government of Thailand I guess! But isn't there a bit of a conflicted interest? If you ban everything except for stocks, guess what happens to stocks? They go up cause a bunch of people are now forced to switch over. I am actually all for what they have done, but it still looks a bit like kicking it while its down. DOGE ain't so hot today and this isn't the reason.