Quote from: franky1 on June 07, 2022, 06:54:41 AM

government cannot control bitcoin (the technology) just like they cant tell a bottle of wine to stop being swallowed.

however governments can regulate PEOPLE. and laws apply to people. because people can be punished and people can read the law.
(bitcoin(and wine) has no brain or eyes. it cant read paper laws. it cant be punished. but people can)

governments can regulate businesses(run by people). and create laws obided by people.
people can try to evade the law. but at risk of punishment if found. and governments can find ways to find people (like how silk road creator was found even with things like tor, proxies)..

yes the laws on alcohol (1920's prohibition.. and under age drinking) has not been effective. and people still drunk it. ... though many people were also caught and punished

yes the laws on drugs ('war on drugs') has not been effective. and people still got high ... though many people were also caught and punished.

..
so although drugs are still available, and alcohol is still available even to underage people and even when it was prohibited in the last century... and bitcoin will still be available .. people using them are limited in their freedom and openness about their utility of it

..
many businesses are not lobbying against it. because these limitations become opportunities. if they can afford the fines or afford the licencing to become legitimate merchants of the limited use items. they can monopolise the market and not have much competition.

regulations are the opposite of the 'free market'.. but hey.. thats capitalism

(im against monopoly and capitalism, and where regulations are used to stifle growth/openness.. but i atleast understand it.)

Too much regulations will do more harm than good for the growth of Bitcoin and other cryptocurrencies on the market. Governments want to abolish privacy because they want to prevent people from gaining true freedom and financial independence. It's a good thing most cryptocurrencies are decentralized, or they would've been easier targets by mainstream governments. Most people don't care about their privacy these days, so they will use CBDCs even if such currencies will be under the full scope of governments and central banks alike. After all, most people don't have nothing to hide.

Fortunately, privacy won't go anywhere soon thanks to anonymous cryptocurrencies like Monero and Zcash. While governments can impose regulations to restrict or even ban the use of privacy coins, they can't be enforced because of the decentralized and censorship-resistant nature of crypto/Blockchain tech. I hope crypto remains that way in order to minimize government's power over the people as much as possible. Just my thoughts Grin