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What "government financial controls" are you referring to? Not everything is black and white. While the government can enact laws, and enforce those with court
by berberous 4y ago
What "government financial controls" are you referring to?
Not everything is black and white. While the government can enact laws, and enforce those with courts and guns, on a practical level it is easier, for example, to flee a hostile country with Bitcoin than with a checking account held at a local bank.
- monkeydreams 4y ago> it is easier, for example, to flee a hostile country with Bitcoin than with a checking account held at a local bank. This incentives engagement by people who wish to evade legal and regulatory controls. For the most part, in the West, these are not people escaping corruption or autocracy.
- falcolas 4y ago> on a practical level it is easier, for example, to flee a hostile country with Bitcoin This feels like something that could be proven given the current climate. How many refugees from the multitude of currently-invaded countries are carrying their assets as bitcoins vs. traditional items of value and cash? Given the tremendous volatility of a bitcoin investment, I doubt many people outside of the upper middle class have bitcoins to begin with, and I really doubt they'd buy bitcoins with what wealth they have access to before fleeing (traditional wisdom says that purchasing items with inherent value that are easy to carry). But again, that's something that could be proven with the ledger. It would be a good story if the evidence backed it up.