Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.
crackdown != shutdown (or, as more popular these days, 'close down'
)Yes, problematic in terms of adoption
No, it won't stop the cat that's out of the bag
The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet. There are plenty of reasons to assume it could fail, including how it could be utilized for tax evasion, money laundering and overall criminal activities (including the funding of those activities). While governments are supposed to hold no oversight over it? That is simply unrealistic: governments hate to lose control, and Bitcoin in that sense is no different. It might no longer be anonymous, but it does complicate tracking the flow of money.
My position remains the same: people here continuously overlook the regulatory aspects in play here, and just assume everything will automagically click into place in the future. I simply have a lot of doubts with respect to that assumption. It will not go that way.