Quote from: avikz on Today at 10:51:55 AM

Quote from: cr1776 on August 18, 2021, 09:40:49 PM

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country. The currency, the Afghani, fell to record lows. Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place: assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin. The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

These are the exact reasons why fascist and regressive countries have either banned bitcoin or in the process of doing it. Because governments do not like people to have control over their own assets, rather they want to control everything they can.

Bitcoin is indeed a great tool to avoid such intervention from the government dogs. We have seen that in the past when protest against China erupted in Hongkong. I am sure many people are using bitcoin solely for this purpose. But governments are furious. Recently Federal Reserve president said few lines on bitcoin.

Read here: https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416

Exactly. The degree to which a country bans bitcoin (or crypto) is the degree to which they are or intend to be authoritarian in nature.