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Actually, this is great. If visa/mastercard/banks etc will start blocking heavily every shady business, these businesses will have to move to bitcoin and other
by jerguismi 15y ago
Actually, this is great. If visa/mastercard/banks etc will start blocking heavily every shady business, these businesses will have to move to bitcoin and other non-goverment-controlled currencies/payment systems. In the long run this benefits us all.
- VMG 15y ago... until SOPA Reloaded kills Bitcoin
- thebigshane 15y agoI think this is interesting... how would they be able to do so? They can make it "illegal" I guess but there isn't a centralized entity to target. Right?
- ansy 15y agoThese sites that could use Bitcoin to evade the financial embargo would likely break US money laundering laws. If not in the existing form then an easily modified one. Also, eventually coins need to turn into real money to pay rent, buy food, pay for electricity. If your bank account is frozen that can be a big inconvenience to doing those things. There would have to be some kind of BitCoin for physical cash exchanges and you'd have to pay everything in cash. Not a very scalable solution for even medium sized operations.
- GHFigs 15y agoI don't think every "shady business" necessarily "benefits us all".
- jerguismi 15y agoI was half-joking, but the idea would be that through these shady businesses bitcoin and other alternative currencies would flourish and we would finally be free from state-controlled currencies.