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Who exactly will have the ability to enforce laws against a swarm of decentralized systems? In all practical terms, it does not look like "laws" can take out cr
by eriksank 13y ago
Who exactly will have the ability to enforce laws against a swarm of decentralized systems? In all practical terms, it does not look like "laws" can take out crypto-currencies at all. Jim Bell shows that the opposite is not true. I think that BTC is the beginning of the end of politically-centralized "law" as we know it.
- betterunix 13y ago"In all practical terms, it does not look like "laws" can take out crypto-currencies at all" Perhaps, but the law can certainly stunt the growth of such currencies, to the point of keeping them small, niche, and irrelevant for the majority of transactions. I suspect that this is already the case, without any modifications to the law.
- eriksank 13y agoJim Bell's theorem clearly demonstrates that the politicians have lost the monopoly on the use of force. At the same time, the politicians have never had any real or valid claim to legitimacy. Libertarians reject government claims to legitimacy on grounds of Occam's razor. Religious people reject it because such claims amount to paganism and often also blasphemy. Therefore, politicians will have to contend with retaliatory measures, which may make any of their attempts at keeping BTC small, irrelevant.