Quote from: Wary on October 21, 2013, 10:47:49 PM

Quote from: bitcool on October 21, 2013, 04:01:46 PM

This can develop to a WIN-WIN-WIN situation:

1. Chinese government, which is already flooded with US toilet papers and recently made angry voice over the debt ceiling and threat of default, sees promoting Bitcoin as a way to strengthen their national wealth and undermine dollar hegemony.

2. US dollar, while may suffer short to mid term due to BTC competition, can be a beneficiary in the long term because this forces the US government to clean up their act and rein in the printing press. Besides, I really don't see US government has the constitution power to ban a network protocol, if so, the founding fathers would be rolling in their graves.

This will be lose for both Chineze and US governments. They will lose their important source of income: the printing press. And their banks will lose a lot of customers (why keep money in bank if bitcoin's % is better). So it's in interest of both governments to squash BTC. Our hope is that instead of jointly killing BTC they will use it to fight each other. Then they will lose and we will win.

"important source of income" via printing press is additive drug to the governments, losing this kind of income is not a bad thing.

The banking sectors are becoming obsolete and parasitic, a cleansing process is long overdue.

For governments, Bitcoin is like bitter pills, good to your health, but hard to swallow.