Post
Topic
Board Bitcoin Discussion
Re: Do we want to work with money regulators, or keep Bitcoin unregulated?
by
proudhon
on 02/05/2013, 02:04:57 UTC
We can go both routes.  It's as simple as a hard fork.

Or no fork.  There is no cryptocurrency variant that is immune to regulation where it transacts with the traditional financial system.  Forking bitcoin or creating new alt-coins simply will not solve the problem, to the extent that is a problem, of regulation at points of contact with the traditional system.  We can already go both routes.  If you choose to only transact in bitcoin, then you can effectively choose to transact within an unregulated system.  If you want to move into and out of bitcoin and the methods you choose to do so interact directly enough with the traditional financial system, then you'll likely brush up about regulations.

Not if you transact in cash--actual Federal Reserve Notes.

That goes without saying.  Every cryptocurrency is immune to regulation with respect to physical cash transactions.  But, hopefully it's obvious enough that I don't mean to include ordinary physical cash transactions when I speak of interacting with the traditional financial system.  I'm referring to things like online exchanges.  And in the case of online exchanges I'm referring to those that use banks to store and move customers state money funds.