The .govs are playing their hand, bitcoin is morphing ... a decentralised, open source software network is not going to play by incompatible rules from above, however it may adopt useful ones if they are advantageous for it to compete in the marketplace. The stakes are high so the many opportunities for unintended consequences to arbitrary rulings will have magnified outcomes. Step carefully when treading in foreign minefields?
Anybody know a good lawyer who can write C++?
Topic: 2013-07-29 Don't Let Bitcoin Morph into Govcoin (Read 634 times)
http://www.americanbanker.com/bankthink/do-not-let-bitcoin-morph-into-govcoin-1060955-1.html
Over-regulation tends to drive innovation to more lightly-regulated jurisdictions or underground where it thrives. And, this is even truer with the cryptographic bitcoin. Although not government's intention, a throttled and neutered bitcoin in the "official" economy would ultimately enhance its overall effectiveness via increased anonymizing measures and more robust decentralization.
Over-regulation tends to drive innovation to more lightly-regulated jurisdictions or underground where it thrives. And, this is even truer with the cryptographic bitcoin. Although not government's intention, a throttled and neutered bitcoin in the "official" economy would ultimately enhance its overall effectiveness via increased anonymizing measures and more robust decentralization.
Jump to: