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In 2011 I expected that governments will eventually try do shutdown Bitcoin and that these attempts will ultimately fail, because it would require most governme
by ls15 4y ago
In 2011 I expected that governments will eventually try do shutdown Bitcoin and that these attempts will ultimately fail, because it would require most governments to tightly collaborate, which I think will not work out, because of conflicting incentives. Everything is taking much longer than I anticipated...
> “I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.
And he likes this kind of surveillance dystopia? Is he trying to sell us CBDCs?
- KptMarchewa 4y agoIt does not require most governments to collaborate. It would require one government, the one where most users of this site are from. The actual banning of use of cryptocurrenties is irrelevant, the fiat exchange point is completely bannable.
- ls15 4y agoI don't think that a US ban would successfully shut down crypto. Not even a simultaneous US, EU, Russia and China ban. BTC price may adjust accordingly though. > the fiat exchange point is completely bannable. So are drug trades, but the global illegal drug trafficking market is worth about half a trillion dollars.
- evandale 4y agoSomebody needs to explain to me how a government could successfully shut down Bitcoin because I'm incredibly confused when people suggest this. You can't stop people from meeting in person and trading things amongst themselves with cash. Banning cryptocurrency would require the same effort that would be needed to ban drugs and last time I checked the illegal drug market is huge even in countries where there's legal access. How will cryptocurrency be any easier to ban?