Quote from: ramsdaj28 on July 16, 2019, 12:51:36 AM

I don't think it's an all out war between government and cryptocurrencies at all. There's a lot of things that will hinder the government from stopping the usage of cryptocurrencies.

1. Cryptocurrencies are electronic assets. They are intangible assets.
2. Cryptocurrencies are decentralized. The government will have a hard time tracing who are holding such cryptos.
3. Cryptocurrencies are already widely used. There are already companies that include cryptocurrencies in their businesses. Even famous people supports some cryptocurrencies.

Also, how would BANNING works in the world of cryptocurrencies? I think, that's harder that we thought it would be.

The only thing the government can do for now is to create bodies or regulatory that will regulate the use of cryptocurrencies. The biggest reason that I can see about these chaos of govenrments against the cryptos is TAXATION. Banks lost a lot of money (just my opinion) because more people prefer investing their money in cryptos than in banks. Who even wants to invest their money for a year, and just get an interest of 5%? LOL

These are valid attributes of Bitcoin, but there are some altcoins out there that don't fulfill all of them, and are easy to destroy. *Libra comes to mind first. So you can't use the world "cryptocurrencies" trying to be politically correct to the altcoins, when you know many of them lack the Bitcoin attributes.

Of course the thing with bitcoin is that people can handle their money without anyone else watching over you, so its arguably easy to evade tax. But perhaps the simplest solution to this is to avoid certain types of tax, like those that need a voluntary declaration, and stick to commercial transactions that are easily traceable such as buying and selling, etc.

Also it would be unfair to tax according to exchange rates, which can change dramatically in minutes. I guess it would be fairer to tax in some cryptos, such as bitcoin. (Ie. 1% of your bitcoin transaction, not "the fiat equivalent" at that point in time...) But indeed that still needs voluntary declaration of your bitcoin wallets, and that can't stop people from having hidden undeclared wallets...

Also technically speaking this is "money" that doesn't really enters or leaves the borders of the country the person resides in.
Well these areas have a lot to debate, and governments can study and find compromises that satisfy all parties, rather than outright ban it all, a war they have lost before even starting. Only 15 countries outright banned Bitcoin, after 10 years.

*How to destroy Libra: Arrest Zuckerberg, seize and shutdown all his companies, done.
Are you willing to risk investing in a coin that can disappear overnight? Nobody can destroy Bitcoin.