Post
Topic
Board Bitcoin Discussion
Re: Now it's an all out war : Government Vs cryptocurrencies
by
Artemis3
on 15/07/2019, 22:13:26 UTC
Hey

We all know how President Trump Tweeted about the Libra and Bitcoins , how they aren't Money and all .

https://www.coindesk.com/us-president-donald-trump-says-hes-not-a-fan-of-bitcoin

Now there is a statement how they are proposing companies to stay away from the digital currencies .

https://www.reuters.com/article/us-usa-cryptocurrency-bill-idUSKCN1U90NL

In India they are proposing a draft to ban all cryptocurrencies
Even dealing with them will land you in jail for 10 years and even holding unlawful.
https://gadgets.ndtv.com/internet/news/bitcoin-ban-india-cryptocurrency-law-10-year-jail-2049939

We have already seen how China banned Bitcoins so did many other countries...

I think it's an all out war right now  
Government Vs Bitcoins.

Except for the countries who support Bitcoins.


See it this way: In the past, religion and state were one and the same. Proposing their separation would be akin to an act of heresy... And everyone in power would object to it, especially the monarchs who were blessed by said religion.

Think of it, what is the current religion of many? Money. Now we are proposing separating money from state, in a way, its a recreation of the past, and yes, they did oppose it...

Still the number of countries in opposition is surprisingly minimal after a whole decade. We should always take a look at wikipedia:

Legality of bitcoin by country or territory

Illegal in: Algeria, Egypt, Morocco; Bolivia, Colombia, Ecuador; Saudi Arabia, Iran; Bangladesh, Nepal, Pakistan; China, Taiwan; Cambodia, Indonesia.

Just 15 out of nearly 200 countries, 10 years after its inception. A system of payment made from the ground up, built to withstand governments and institutions, border-less, secure, intangible, yet verifiable unique. Its just math, essentially. Geek triumph?

Countries that ban it are fools, they are simply telling wealth to go elsewhere. Its like they are too rich or something, very ironic given most in the list are rather poor, but it does tell you one of the reasons they still are.

Because Libra is centralized, its easy to destroy. Bitcoin? You have no rich man, or company to go after, you can never catch its creator, and even if you did, you could never stop his/her creation, not even him/her can anymore. The genie is out of the bottle, there is no turning back, you can't undo history.

Embrace it and learn how to profit from it, or put your head inside a hole in the ground pretending it doesn't exist while the rest of your neighbors enjoy the benefits. Your call...