4 ms·
Indeed. I think a possible scenario is that governments will legalize Bitcoin as long as you tie your address to your government-issued ID, and you're not on a
by neilk 13y ago
Indeed. I think a possible scenario is that governments will legalize Bitcoin as long as you tie your address to your government-issued ID, and you're not on a blacklist. Basically you'll have a Bitcoin license.
This gives them an off-switch for The Terrorists. And, side effect, a way to blockade groups they don't like.
A registry may happen because businesses have an incentive to have creditworthy customers. Sometimes you want to prove you have collateral, that you have cash flow, that you've paid people in the past. Bitcoin does that nicely.
- SwellJoe 13y agoI'm not sure that's feasible. At least, not with the current Bitcoin design. Any individual can have as many wallets as they want, and while specific addresses and wallets are traceable, you don't have to make indentifiable transactions from any given wallet. So, for example, one might have a "public" Bitcoin wallet, and a "private" one. The private one you use in the way someone who works for cash and tips might operate today...they don't tell the government about all of it. So, you've got your public wallet to prove you have money available, for making credit decisions, for deciding whether to sell you a house, etc. And your private wallet because "fuck the police". There's not even a good way to know if a wallet is located in the US or somewhere else. And, if there are people willing to take coins from people's private wallets, there will likely be a solid economy outside the government's control; as there already is; there's a massive barter and cash economy. Bitcoin makes it slightly technically challenging (like, how do you get and spend bitcoins to and from your private wallet if you can't accept your paycheck there and can't order goods shipped to your house with it).