i am quite sure that Bitcoin wasn't "designed" to support bribes and corruption.
yes it was, it was designed to engender outright financial independence. that includes people using Bitcoin to do immoral things, as well as the moral
Yeah yeah. I should have known where this will go..
Not arguing with that.
From that viewpoint, the regulators/ Govt project cryptocurrency as simply another way of safely storing "Bribe money". The Govt. officials in India who amassed disproportionate assets had this "Swiss Bank" thing going on for the longest time.
Its a difficult problem to solve and a difficult propaganda to counter.
no it's not, if everyone has a "swiss bank account" then no-one need pay money to corrupt officials to begin with
Hmm. Everyone using BTC would mean putting public expenditure on a public blockchain. This would automatically result in accountability.
Yet, those with power will always find a way to get paid and they are inherently shielded by the nature of cryptocurrency. So while bitcoin can solve the problem of Govt and Central Bank monopoly on the value of money, i think it creates additional problems when it comes to corruption. This is why it is easier to target it in a developing country like India.
But yes, targeting BTC for that is a typical diversionary tactic. Its not the tool but the intent of its use which is the problem here.
Bitcoin is code. The code does exactly what it does, nothing else. It enables complete financial independence. If you don't want that, you bought the wrong thing: do everyone a favour, sell
Mannnn! First, I don't really own that much. Second, I am not selling, no matter what you say..The discussion evolved and well, I concede this debate in your favor Banks. Would you please get off that horse now??