Re: Will blockchain survive the crackdown on mixers and anonymization?
Can you cite a recent (viz. the last 20 years) example of where an American bank lost somebody's money? I simply haven't ever heard of such a thing.
Apologies for the delayed response. I wasn't referring to losing deposits entirely. I meant losing them gradually over time due to decrease in purchasing power.
Uh, that is an... entirely different subject.
Bitcoin lost investors billions and billions about two years ago... then it made them money. Maybe it will make them more money in the future, or maybe they will lose. Who knows.
I guess some governments could come after all of us, but they are thus far focusing on the brokerage endpoints, which is very effective and gives them everything they need.
"Everything they need" refers to Know Your Customer, which you don't require currently. If governments could somehow enforce this requirement on cryptocurrencies, rest assured they would have done so. It's just that cryptocurrencies are decentralized and thus beyond their reach, unlike Haypenny, which is precisely the point I'm emphasizing. You can be easily shut down, whereas cryptocurrencies cannot. It's as straightforward as that.
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Bitcoin (itself) doesn't require KYC either. Neither does any crypto or digital currency. They are only going after mixers and things like Monera. Why? Because with Bitcoin they have everything they need to track transactions.
It would be just as easy for the US to effectively shut down Bitcoin by making it illegal, which would drop the price of Bitcoin by about 99%. And the US could absolutely take over the hashrate of Bitcoin if it wanted to as well, as could any major world government.
We are in the same boat as any other digital currency, decentralized cryptos, centralized cryptos, and centralized digital currencies.
It's as straightforward as that.
We're talking about theory here, since there's no evidence "the government" is planning on shutting anybody down. Bitcoin just got it's ETF approved for chrissakes
. If anything, governments are going in the opposite direction.