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From the article: > Any application that could be done on a blockchain could be better done on a centralized database. Except crime. Governments, world-wide,
by todd8 5y ago
From the article:
> Any application that could be done on a blockchain could be better done on a centralized database. Except crime.
Governments, world-wide, may end up emulating China, which is planning to outlaw other crypto-currencies while providing its own. The information gathered by a national government monopolizing crypto-currency is simply too appealing to those that would like to deter crime, stop tax-avoidance, or even understand in real-time what is going on in their economies. After China, I believe that other nations are likely to do the same thing and outlaw or heavily regulate crypto.
- CTDOCodebases 5y agoThey will just try to turn crypto into the existing banking network by forcing citizen coin holders onto the exchanges, banning transactions from non custodial addresses and continuing to control the on-ramps and off-ramps. This way they can monitor transaction and if they don’t like something or are suspicious they can just seize the funds once they hit an on-ramp/off-ramp. A CBDC will be introduced and all other USD stable coins will be banned and consider counterfeit currency. The US CBDC will replace stable coins and allow the US to continue exporting its currency abolishing other currencies in the process while gathering intelligence.
- Jerrrry 5y agoThis. https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102 Remember, the use of encryption above a certain keyspace is still considered exporting arms, and subject to ITAR. They will let more suffer from the bubble to allow swift legal reform.
- CTDOCodebases 5y agoMaybe the bubble will be popped deliberately like it was back in 2017.[0] [0] https://www.coindesk.com/markets/2019/10/22/trump-administration-popped-2017-bitcoin-bubble-ex-cftc-chair-says/ https://www.coindesk.com/markets/2019/10/22/trump-administra...