Post
Topic
Board Trading Discussion
Re: Satoshi Nakamoto remaining anonymous is good for Bitcoin!
by
Ndabagi01
on 25/04/2024, 20:26:01 UTC
 2) Potential for Illegal Activities: Due to its decentralized nature, Bitcoin could have been exploited for illicit purposes. Law enforcement agencies would undoubtedly have scrutinized its potential use in criminal activities, raising the risk of Satoshi's arrest.

If Satoshi didn’t kept himself anonymous till date, he would have been arrested on this charges for a long time even as he doesn’t have anything or the purpose of the creation of bitcoin was to facilitate this. Before cryptocurrency invention, illegal activities of money laundering through other means have been prevalent, why will a new system that is clear and definite of its purpose be accused of such crimes? But the power belongs ti the government, so nothing can be done about it.

Quote
    3) Tax Evasion Concerns: Cryptocurrencies can facilitate tax evasion, prompting governments to oppose their widespread adoption. Without adequate mechanisms to address tax compliance, authorities would likely have rejected Satoshi's project.

Regulations is what many governments that are ready to accept or legalise the use of bitcoin in their countries are mostly parading on. The benefits attached to paying of tax using and transacting on bitcoin services is what makes them to be so strict on its rule making it hard for those finding comfort in using the currency. Where one find comfort, the obstacles doesn’t bother them much but will always look for a way to settle for it and use it like that, that’s the case of many people using it in many of the countries that have imposed strict regulations on it.