Post
Topic
Board Bitcoin Discussion
Re: Freezing BitCoin addresses by regulating miners
by
augustocroppo
on 16/01/2014, 20:26:30 UTC
Um yes it is it's a huge difference! You are completely wrong.

Having 5 major exchanges in 5 different jurisdictions vs. 1 main exchange a year ago, a 500% increase, does establish my argument.

Last year China virtually shut down the biggest exchange BTC China but because Bitcoin had 5 other exchanges in 5 other Jurisdictions, Bitcoin was able to absorb even that blow.

I would guess that this five exchange markets are in jurisdictions where they have to follow AML polices defined by a central body of governance.

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What about the open source < $1000 mobile Bitcoin vending machines? The equivalent of thousands of mini-exchanges in hundreds of countries? Will all of them have to comply with your 'similar across different jurisdictions, government policies?'

They will have to follow the local legislation of the place where the machine will operate, which is defined by a central body of governance.

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What about the new decentralised exchanges, will they have to comply with your 'similar across different jurisdictions, government policies?'

If they operate with fiat currency they will have to comply with polices defined by a central body of governance.

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Also you only have to look at gold to see that BTC will never 'adopt practices defined by a central body of governance.'

Gold ≠ BTC

Even so, trade of precious metal can be regulated by a central body of governance.

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More and more secure decentralised solutions are being developed everyday.

You mean the "decentralized" exchanges markets which not operate with fiat currency.