There is no way to ban a completely decentralized technology. Even if they oppose it, they have to accept it someday. It will destroy everything that goes against this technology like a big hurricane.
They will try to ban it and they may succeed in slowing adoption by imprison people they find dealing with bitcoin but at the end it is going to be similar to the war on drugs, it is not going to work as long as there is a reason for people to want to use it. 
Topic: Cryptocurrencies and its political nature. (Read 1699 times)
I don't think that Satoshi, when writing bitcoin code think that it will be very influential that even in the political arena, bitcoin is going to be involved. Right now the situation is still in the middle, some government like Japan support bitcoin all the way, while others like China want to banned it. And even in countries that has political and economic turmoil, like in Venezuela and Zimbabwe, bitcoin is also tag along. I guess bitcoin could be consider as tool to change how countries perception on money, specially their fiat. Look at China government, they felt that their Yuan is being threaten by bitcoin that's why they want to ban and put a stop on it. Bitcoin is not designed by Satoshi like that, but since it has evolved so much, for now its gonna be a battle for bitcoin to be accepted or rejected by a nation for a reasons.
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The nature of cryptocurrencies is very political because no single government that can control them.
That's the good nature why do I love bitcoin. But my perspective right now about this crypto, I think it would be best also that it has government intervention because if government support this one we can ensure that operations would still continuing and goes on. And if there is government that let us say regulates it and provide some laws regarding to it then it would be appropriate because if you just let it alone many would intervened and we do not know also if those who intervene are good for this crypto.And as far as I can see many nations that bitcoin is highly legal have government intervention and we see that they have good things running out of this crypto and I think other nations would do the same way too.
Since bitcoin is made to at least be used as a currency or eventually replace the current fist system then it will have a political influence on every government. Government wants top at least regulate the use of the coin because they are seeing it's future potential.
people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
"Governed by code alone, making the contract digital sancrosanct."
That is a decent way of putting it.
Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.
You are quite right on that. Capitalism as postulated by Karl Marx classified the society into two, the bourgeois and proletariat. The formal being the individuals with access to factors of production like capital, land, enterprising or entrepreneur(ing) skills etc and are able to employ the labour of the proletariats. He assumed that these two different classes are perpetual , that is, one can not move into another class either by descending or moving from proletariat to bourgeois. However, the current politics of crptos and bitcoin has been able to prove that a no body as (proletariat ) can overnight become overtly rich.
What satoshi has achieved was so great in the sense of economic break through, that people, banks, financial institutes, economists were trying for decades to build up a system which will work as ledger. This ledger would be most secure and trust will be maintained under any situation. There were attempts to build this kind of system with trust-oriented nodes in different countries however their failure were apparent when it came to maintaining security under criticial situation like some of nodes were malfunctioning or hacked.
Bitcoin ledger has managed to put that missing link and build a decentralized system.
Quote
The nature of cryptocurrencies is very political because no single government that can control them.
That's the good nature why do I love bitcoin. But my perspective right now about this crypto, I think it would be best also that it has government intervention because if government support this one we can ensure that operations would still continuing and goes on. And if there is government that let us say regulates it and provide some laws regarding to it then it would be appropriate because if you just let it alone many would intervened and we do not know also if those who intervene are good for this crypto.And as far as I can see many nations that bitcoin is highly legal have government intervention and we see that they have good things running out of this crypto and I think other nations would do the same way too.
The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
Its happened because of its decentralization features it has, no wonder why the government in the entire world had no power to control it. And that's is the beauty of crypto currency and Bitcoin.
The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
Its happened because of its decentralization features it has, no wonder why the government in the entire world had no power to control it. And that's is the beauty of crypto currency and Bitcoin.
The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
That is why the governments can't do anything about the cryptocurrencies but to try to regulate it and when they can't regulate it then they will just ban the cryptocurrencies and stick to their system like fiat. Governments always wants to control things and make profit out of it and that is the reason why they created fiat money.Indeed, this banning of bitcoin in such countries will not be implemented forever. Maybe the government now is against it, but when the next leader stood up and realized the functionality and the fact that there's a high possibility that btc will be our future currency, then they have no choice but to embrace this awesome digital currency.
There is no way to ban a completely decentralized technology. Even if they oppose it, they have to accept it someday. It will destroy everything that goes against this technology like a big hurricane.
The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual.
Bitcoin is not political in those means ,it is political in literal political nature that is unwanted lies being used to cover up and powerful people dominating the markets sometimes. For example,take Jamie Dimon asshole for how he used his political/top-class business influence and made people to some how panic sell their bitcoin so that he could buy it. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
People don't understand shit about bitcoin's code. There exists some people who dont want to use bitcoin and even though it is governed only by its code,its actually not, its governed and controlled by people,well at least the prices are. 
The political nature you can find it thru the projects sustained thru bitcoin. there are all kind of digital currency for a various amount of purposes, like organising events and thru this perspective digital currency encounter policy. I wonder what kind of political party would use bitcoin in the election campaign.
It depends.
I accept the argument that bitcoin can not be controlled by a government, but I do not agree that all the kind of cryptocurrencies will never be controlled by a government.
A government can decide to make it's own cryptocurrency , and they are going to be the only miners which makes them to have a control over the currency.
That is something they are going to try but since they are never going to impose the strong fundamentals of bitcoin then those cryptocurrencies are going to be as useless than the fiat they keep printing, besides even if at some point they decided to apply the same fundamentals we know that they are going to changed them eventually. I accept the argument that bitcoin can not be controlled by a government, but I do not agree that all the kind of cryptocurrencies will never be controlled by a government.
A government can decide to make it's own cryptocurrency , and they are going to be the only miners which makes them to have a control over the currency.
I agree that a lot of people choose cryptocurrencies over fiat money because of its convenience in terms of transactions. And it is correct that it is out of the control of government which is why it is extremely popular. However, I have read at some other topics here that South Korea is about to implement bitcoin taxation probably because of the following reasons:
1. It is widely used in their country. (Given that it is legal and recognized by the government)
2. To improve security.
3. To trace cash flows (This is to trace if illegal transactions are made)
This news might be the start of downfall of government's incapability of controlling bitcoin because it is being initiated now. What do you think?
I don’t see anything that makes cryptocurency is better than fiat money in terms fastness in transaction; fiat is more faster, cause Bitcoin will have to go through some confirmation processes which will take about 10 to 15 minutes on high priority, and more than hours on low priority due to miners not accepting low fees. Another thing you should –government can control Bitcoin if they choose to, and they can even destroy it, ask me how or make some research. 1. It is widely used in their country. (Given that it is legal and recognized by the government)
2. To improve security.
3. To trace cash flows (This is to trace if illegal transactions are made)
This news might be the start of downfall of government's incapability of controlling bitcoin because it is being initiated now. What do you think?
The presence of bitcoin generates a lot of speculation, from economic to political issues, I'm sure many countries are studying bitcoin so if deemed necessary they immediately legalize bitcoin.
You are absolutely right about this. You know, every government want to make its country economically stable. And in the future, believe me there will be one measuring tool and that will be bitcoin. So now, all the interested governments are studying bitcoin so keenly that they want to make bitcoin legal in their country. They want to be standing in the first of economical row in future. 
So whats gona be the advantage of such coin?
At one side people will have banks that are centralized but have already good working and more reliable tools while on the other side you gona have unknown crypto thats also gona be centralized but 95% of people don't know how to use is and general mechanisms are not that good as they could be.
At one side people will have banks that are centralized but have already good working and more reliable tools while on the other side you gona have unknown crypto thats also gona be centralized but 95% of people don't know how to use is and general mechanisms are not that good as they could be.
The main advantage doesn't change and that is being in absolute control of your coins. Untrue that crypto will be centralised. True 95% don't know how to use it (more like 99.9 actually) but you forget that adoption and decelopment of mainstream tools has an early steep climb. Think banking was accessible and useable in its early stages? Roughly a third of the world is still unbanked!
Bitcoin in that way isn't just about economics, to change the way we view money as something we control is very political!
It depends.
I accept the argument that bitcoin can not be controlled by a government, but I do not agree that all the kind of cryptocurrencies will never be controlled by a government.
A government can decide to make it's own cryptocurrency , and they are going to be the only miners which makes them to have a control over the currency.
I accept the argument that bitcoin can not be controlled by a government, but I do not agree that all the kind of cryptocurrencies will never be controlled by a government.
A government can decide to make it's own cryptocurrency , and they are going to be the only miners which makes them to have a control over the currency.
Our country is also looking in this direction where they can create their own coin and which will be controlled and governed by them. So that they can easily keep a track of it and might ban all other cypto currencies. Thus through this they will can use the blockchain technology and also keep a tab on things.
At one side people will have banks that are centralized but have already good working and more reliable tools while on the other side you gona have unknown crypto thats also gona be centralized but 95% of people don't know how to use is and general mechanisms are not that good as they could be.
I think it’s going to be hard for governments to eliminate physical money because not everyone has access to computers and smartphones. There will probably be some combination of physical and digital for a while.
In fact, we already do that in a way if you consider credit cards, PayPal, and automatic bank drafts which are transactions completed without physical money changing hands. Even checks eliminate the need for using physical cash.
The presence of bitcoin generates a lot of speculation, from economic to political issues, I'm sure many countries are studying bitcoin so if deemed necessary they immediately legalize bitcoin.
I don't believe there are many countries that are in a position to legalise bitcoin because for most places it is not illegal. Whenever anything draws as much attention and money as the crypto market then inevitably governments and other big political players will get involved to try and shape it in a way that benefits them.
The presence of bitcoin generates a lot of speculation, from economic to political issues, I'm sure many countries are studying bitcoin so if deemed necessary they immediately legalize bitcoin.
Bitcoin is having a very crucial importance and there are so many people who are studying about bitcoin in order to understand this concept in a better way. As far as political nature of bitcoin, I think there is no one who knows exactly the role of bitcoin in such kind of scenarios. I only know one thing and that bitcoin is going to surprise all of us in the coming days. We just need to hope for the best. The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
That is why the governments can't do anything about the cryptocurrencies but to try to regulate it and when they can't regulate it then they will just ban the cryptocurrencies and stick to their system like fiat. Governments always wants to control things and make profit out of it and that is the reason why they created fiat money.people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
"Governed by code alone, making the contract digital sancrosanct."
That is a decent way of putting it.
Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.
You are quite right on that. Capitalism as postulated by Karl Marx classified the society into two, the bourgeois and proletariat. The formal being the individuals with access to factors of production like capital, land, enterprising or entrepreneur(ing) skills etc and are able to employ the labour of the proletariats. He assumed that these two different classes are perpetual , that is, one can not move into another class either by descending or moving from proletariat to bourgeois. However, the current politics of crptos and bitcoin has been able to prove that a no body as (proletariat ) can overnight become overtly rich.
What satoshi has achieved was so great in the sense of economic break through, that people, banks, financial institutes, economists were trying for decades to build up a system which will work as ledger. This ledger would be most secure and trust will be maintained under any situation. There were attempts to build this kind of system with trust-oriented nodes in different countries however their failure were apparent when it came to maintaining security under criticial situation like some of nodes were malfunctioning or hacked.
Bitcoin ledger has managed to put that missing link and build a decentralized system.
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