3 ms·

Three of these are just money laundering and then the 4th is "and maybe some cool ideas." I really don't see how the money laundering is a long term niche. Th

by jayd16 4y ago

Three of these are just money laundering and then the 4th is "and maybe some cool ideas." I really don't see how the money laundering is a long term niche. They'll get regulated eventually. I do think the whole event has dredged up some interesting ideas and desires that were being ignored, but of lot of those "cool promise here" ideas could probably work without a blockchain.

toolz 4y ago
Let's take a modern example of the canadian truckers. How would you get money to them when Canada was able to get US companies to block their funding with fiat? Use a different company and hope another few million doesn't get locked up? That seems like the only alternative and I'm not sure many people would think that's a viable alternative.
- jayd16 4y ago
  Again, I'm not sure "temporarily skirt the law" is all that viable long term.
  - toolz 4y ago
    Personally I hope it is and I don't see how it couldn't be. Bitcoin is uncensorable as far as I can tell. Countries have not proven themselves capable of stopping internet traffic and thus countries have shown they do not have the power to censor bitcoin transactions. I am sure countries will want to censor it, but I don't believe they will be able to, as such the only risk to bitcoins long term viability is the markets demand. There are numerous examples of illicit goods that governments have proven incapable of reducing the demand for, e.g. drugs. So I don't think bitcoin is going anywhere. I think bitcoin will take a different censorable form and we'll start seeing companies on top of the blockchain that can do things like refund unauthorized transactions and things of that nature, but the base layer will remain uncensorable and thus bitcoin could become both convenient enough (although not better, in my opinion) for rich countries to use as currency while holding the characteristic of providing tremendous benefits to citizens in oppressed poor countries.

by jayd16 4y ago

toolz 4y ago

Let's take a modern example of the canadian truckers. How would you get money to them when Canada was able to get US companies to block their funding with fiat? Use a different company and hope another few million doesn't get locked up? That seems like the only alternative and I'm not sure many people would think that's a viable alternative.

jayd16 4y ago
Again, I'm not sure "temporarily skirt the law" is all that viable long term.
- toolz 4y ago
  Personally I hope it is and I don't see how it couldn't be. Bitcoin is uncensorable as far as I can tell. Countries have not proven themselves capable of stopping internet traffic and thus countries have shown they do not have the power to censor bitcoin transactions. I am sure countries will want to censor it, but I don't believe they will be able to, as such the only risk to bitcoins long term viability is the markets demand. There are numerous examples of illicit goods that governments have proven incapable of reducing the demand for, e.g. drugs. So I don't think bitcoin is going anywhere. I think bitcoin will take a different censorable form and we'll start seeing companies on top of the blockchain that can do things like refund unauthorized transactions and things of that nature, but the base layer will remain uncensorable and thus bitcoin could become both convenient enough (although not better, in my opinion) for rich countries to use as currency while holding the characteristic of providing tremendous benefits to citizens in oppressed poor countries.