Re the bar for law — it's hard to see where the protestors fit in that context. Certainly a court challenge will happen, and the perfect example of a need for unrestricted money.
Re closing exchanges/govt prohibitions — I'll repeat from the other comment. The point of crypto is that the protocols are decentralized. Governments can't real…
Re the bar for law — it's hard to see where the protestors fit in that context. Certainly a court challenge will happen, and the perfect example of a need for unrestricted money.
Re closing exchanges/govt prohibitions — I'll repeat from the other comment. The point of crypto is that the protocols are decentralized. Governments can't really control use of them, but they can try to set rules on them, i.e. governments can make it illegal to use crypto just like it's illegal to use drugs, but people can still do it as long as they have an internet connection. Those who need to use crypto because traditional banking systems don't support them will have the option even in a crypto-regulation regime. I imagine that those whose financial rights are being infringed upon won't worry that much about breaking crypto laws.
Further, in democratic countries, it will be hard for governments to pass legislation, which would probably take years if done at all, to seriously restrict crypto.
There's also a global competitive incentive that will prevent countries from excessive crypto regulation. We're already seeing states and cities embrace crypto to attract people to live/work/build businesses/pay taxes there i.e. Miami, Wyoming. The same will be true at a national level. Servers to host the chain will be available because opportunistic countries will make them available even if major countries don't. We're past the point of killing the experiment with regulation.
I agree: It is unlikely that crypto can be killed. But it might be regulated drastically and what would free money (or free speech) be worth, if in the end it would only be for renegades ...
Don't agree: though crypto might not be money at all (which is not clear at the moment), crypto and blockchain are probably the future of money. They are going to revolutionize the way how money is moving around and change the legacy infrastructure of banking forever. To pay or move money will be possible at a fractional amount of todays cost (maybe as little as 10%). If people say crypto has no real use, they don't see this potential or don't take it serious. But this potential can only materialize as a consensus within society (and yes, this means: partly regulated). As a means of renegades dreaming of freedom from society the real utility of crypto would never become a reality.
If i was an authoritarian i would rescind physical cash and replace it with a blockchain to increase surveillance, tracking, security, digitization, control.
I’ve heard that experiment is being run with el Salvador’s “leader”
Re the bar for law — it's hard to see where the protestors fit in that context. Certainly a court challenge will happen, and the perfect example of a need for unrestricted money.
Re closing exchanges/govt prohibitions — I'll repeat from the other comment. The point of crypto is that the protocols are decentralized. Governments can't really control use of them, but they can try to set rules on them, i.e. governments can make it illegal to use crypto just like it's illegal to use drugs, but people can still do it as long as they have an internet connection. Those who need to use crypto because traditional banking systems don't support them will have the option even in a crypto-regulation regime. I imagine that those whose financial rights are being infringed upon won't worry that much about breaking crypto laws.
Further, in democratic countries, it will be hard for governments to pass legislation, which would probably take years if done at all, to seriously restrict crypto.
There's also a global competitive incentive that will prevent countries from excessive crypto regulation. We're already seeing states and cities embrace crypto to attract people to live/work/build businesses/pay taxes there i.e. Miami, Wyoming. The same will be true at a national level. Servers to host the chain will be available because opportunistic countries will make them available even if major countries don't. We're past the point of killing the experiment with regulation.
I agree: It is unlikely that crypto can be killed. But it might be regulated drastically and what would free money (or free speech) be worth, if in the end it would only be for renegades ...
A niche product for speculation and illicit activity
Don't agree: though crypto might not be money at all (which is not clear at the moment), crypto and blockchain are probably the future of money. They are going to revolutionize the way how money is moving around and change the legacy infrastructure of banking forever. To pay or move money will be possible at a fractional amount of todays cost (maybe as little as 10%). If people say crypto has no real use, they don't see this potential or don't take it serious. But this potential can only materialize as a consensus within society (and yes, this means: partly regulated). As a means of renegades dreaming of freedom from society the real utility of crypto would never become a reality.
Physical cash is the freedom money.
If i was an authoritarian i would rescind physical cash and replace it with a blockchain to increase surveillance, tracking, security, digitization, control.
I’ve heard that experiment is being run with el Salvador’s “leader”
“Crypto's primary use case is freedom from authoritarian control of one's money.”
Are you saying this will be the case in the future or it already is?
Is it money if the purchasing power fluctuates 10% in a day and you can buy almost none of basic needs with it?