Re: Will blockchain survive the crackdown on mixers and anonymization?
Like money laundering in general, governments will never be able to shut it down completely, but they can certainly make it something only serious criminals would want to do. Few would risk federal prison just as a hobby.
Almost all holders of Bitcoin do so in a centralized way with a broker or an app that does KYC. Most average consumers don't want go to all of this trouble just to evade the government, they just want a safe investment that gives them a profit.
Almost all holders of Bitcoin do so in a centralized way with a broker or an app that does KYC. Most average consumers don't want go to all of this trouble just to evade the government, they just want a safe investment that gives them a profit.
Exactly. No one wants to get in trouble with the government. People won't mind giving their away their privacy as long as they're able to invest into BTC and make money in the long run. For true believers of the revolution, it's going to be hard (if not difficult) to obtain privacy without raising suspicion from the government. With recent crackdowns from the US, don't expect developers to continue working on privacy solutions (mixers, anonymization techniques, etc) anytime soon. Those who do, are at risk of getting caught by the government (like the ones working on Monero). Totally not worth it, imo.
At least we know crypto/Blockchain tech won't disappear that easily. The industry will experience tighter regulations in the future. That's for sure. As long as decentralization wins, nothing else matters.
