Post
Topic
Board Altcoin Discussion
Re: r0ach's Cryptomarkets Watch & Scamcoin Observer
by
r0ach
on 26/06/2016, 04:33:29 UTC
I think we need to try to do something in terms of investing our money in honest s/w development.

Or just stick with BTC and accept the fate of Blockstream + China, which in my opinion in another way we are being used for the objectives of those who control us.

I try to be pragmatic and set reasonable expectations for what can become of things.  I'm aware governments can attempt to co-opt BTC in different manners by trying to regulate mining facilities and all that.  Whether that would actually work or not is highly debatable being a multi-continent thing +10,000 altcoins they have to play endless whack-a-mole with and lose eventually.  This is why there's no real reason for them to even try to attack BTC in that manner.

The point is, none of those worst case scenarios are even a deal breaker to me because they still would not be worse than the system we already have.  Bitcoin isn't usury, debt, fractional reserve based, or inflationary, so no matter what "they" do to the thing, you will probably be getting some type of more sound money out of the deal.  You try to say they will "claw it all back" with 90% taxes or whatever, but that's not an inherent Bitcoin problem, that's a too big of govt problem.

If every 1st world nation bands together to create a North Korean, gulag system where everyone who makes over $10,000 a year is taxed for 90% using the blockchain to prove how much wealth you have, at that point you would just cash out your now much more valuable BTC, buy some type of metal, real estate, 1 million cattle, whatever, then move to some random 3rd world country and live like a king like John McAfee.  You probably wouldn't even need to "cash out", you can just spend your BTC while sitting around in your new 3rd world country.

If Bitcoin accomplishes it's intended goal, you win.  If Bitcoin is somehow co-opted by a world government, you're now front running the government and still win with 10,000x more resources to attempt to accomplish whatever it is you wanted to do before.  Bitcoin never shipped with a label that says "100% guaranteed to prevent an authoritarian world government from forming that will kill everyone".