Quote from: ShowOff on July 29, 2021, 02:16:23 PM

Quote from: 20kevin20 on July 29, 2021, 01:46:19 PM

Definitely an interesting read. Bitcoin might evolve into a super-sovereign currency, but I think the draconic upcoming regulations will be like a blockage of its real potential. Here is where the problems usually come up: when humans think grass shouldn't be green in the US but blue instead. Once a country doesn't agree with something, especially when it comes to systems that put them under "danger" of loss of control, they'll try to enforce rules other countries don't agree with. And since Bitcoin lives on its own, all by itself with no need of change of rules, there will always be a problem with Bitcoin's evolution.

Bitcoin is a currency created by satoshi that has a decentralized nature with the aim of being used as an alternative currency to fiat and other mean of payment. Bitcoin is still possible to be regulated by the government of a country even though in the end many existing rule will only hinder its growth and development among the wider community. The government want tight control, we want freedom and the two are always at odds.

As you might think, bitcoin can become a sovereign currency if government around the world unite and support bitcoin. Meanwhile, until now government in many countries are still reluctant to legalize it as a legal tender due to price fluctuation and other reason. Regulation will block all ideas about the bitcoin revolution as a sovereign currency because government will continue to block it.

Yes, Bitcoin will definitely accept increasingly strict government supervision. Because Bitcoin is essentially a weakening of government power. But on the other hand, it is difficult for the government to fundamentally ban Bitcoin. This is determined by the underlying technology of Bitcoin. No single force can control Bitcoin or tamper with the Bitcoin network. Therefore, the ultimate choice must be that the government adapts to the existence of Bitcoin. In this continuous game, Bitcoin has gradually evolved into the super-sovereign currency of human civilization.