Post
Topic
Board Bitcoin Discussion
Re: As real as it gets
by
Kakmakr
on 27/03/2017, 06:56:31 UTC
...That said I do not have any valid arguments against larger blocks, faster transaction confirmations and lower fees, if solution is graceful, does not destroy Bitcoin brand, rarity and trust of over half of it's users.

What about if it hurts it's current decentralized and unregulatable nature?
Do you think Bitcoin could continue to exist or be valuable without them?

I'm all for on-chain scaling and lower fees too, but not if in 5 years Bitcoin is directly
regulated by governments. Look what China is currently doing to their Chinese Exchanges.
You think they wouldn't do that to the protocol if they could?

Satoshi made Bitcoin to be bigger than a low fee payment system, it was for freedom.

Yes, all valid arguments... What China is doing is already done here in the US.

No. In the US and Europe, you can transfer your Bitcoin throughout the world without
restriction or monitoring. China wants to restrict exchange ledger withdrawals to only
other verified people within the country and into other exchanges. Their new regulation
is about restriction, not tax compliance. They want to stop wealth from leaving their
economy (bitcoin has been used by their elites to buy foreign property and etc).

Only time will tell what the impact this will have on bitcoin in the long run.


It will have a impact on the people who will still be using regulated exchanges after this "cleanup" by their government, but most of them have already moved to other alternative to continue without them. The Chinese government wants to protect their economy and their local currency, but decentralized Crypto currencies will not be stopped.

I can still earn Bitcoin and use it online for whatever I want and accumulate wealth to be spend in another country.