3 ms·

"Bitcoin or any other crypto-coin has real chance of adoption only when it's sponsored by government." While I agree with your assertion that governments have

"Bitcoin or any other crypto-coin has real chance of adoption only when it's sponsored by government." While I agree with your assertion that governments have no reason to support Bitcoin, I don't believe it follows that government sponsorship is necessary for the success of Bitcoin. I suspect most people betting on Bitcoin are aware that at some point, governments are going to act forcefully to kill Bitcoin, and the fallout will be utterly unpredictable. But, I don't think it's something that can be put back in the bottle. We're crossing into uncharted waters here. Nothing like Bitcoin has ever happened before...so, we don't know how it's going to play out. I'm bullish even with the expectation that major world governments will collude with current financial elites to kill Bitcoin, because I suspect there is no way they can actually kill it.

hershel 13y ago
One option for the US would be a crypto coin that is pegged to the dollar(by controlling global exchanges) . While not fit for speculators, it would be very stable and the level of anonymity can be controlled(anonymous to all but law enforcement), and declare bitcoin exchanges illegal. While I don't see it going this way because the US politicians are bought by bankers , it seems like something that can kill bitcoin.
jasonwocky 13y ago
> governments are going to act forcefully to kill Bitcoin, and the fallout will be utterly unpredictable. I don't think so. I think it's quite predictable that, if that happens, Bitcoin will lose. In the sense that it will ultimately become a cryptocurrency also-ran. Something else will probably rise to take its place after it's been bloodied, something designed to be resistant to whatever response the world's governments bring to bear.
- SwellJoe 13y ago
  In the same way that peer-to-peer file sharing lost?
  - jasonwocky 13y ago
    In the same way that Napster lost. Imagine if you'd invested in that one after the mainstream noticed it.

hershel 13y ago

One option for the US would be a crypto coin that is pegged to the dollar(by controlling global exchanges) . While not fit for speculators, it would be very stable and the level of anonymity can be controlled(anonymous to all but law enforcement), and declare bitcoin exchanges illegal. While I don't see it going this way because the US politicians are bought by bankers , it seems like something that can kill bitcoin.

jasonwocky 13y ago

> governments are going to act forcefully to kill Bitcoin, and the fallout will be utterly unpredictable. I don't think so. I think it's quite predictable that, if that happens, Bitcoin will lose. In the sense that it will ultimately become a cryptocurrency also-ran. Something else will probably rise to take its place after it's been bloodied, something designed to be resistant to whatever response the world's governments bring to bear.

SwellJoe 13y ago
In the same way that peer-to-peer file sharing lost?
- jasonwocky 13y ago
  In the same way that Napster lost. Imagine if you'd invested in that one after the mainstream noticed it.