Topic: Do you really think governments will allow a 500 billion dollar crypto-economy? - page 6. (Read 8807 times)

No, but you may give away your bread & butter for steak & lobster.  Those in power can leverage bitcoin for their individual benefit too. 

You probably mean what the people controlling the government (bankers) will do.
They will do everything they can to hold on to their power.
Would you willingly give away your bread and butter for the "better" of humanity?
I think not.

Yes, excellent. Neither Gold nor Gold 2.0 will disappear as long as the civilization doesn't. It is the state that always disappeared, together with its debt. The history of the state is the history of failed states. If Bitcoin will destroy all states (and it has the potential to do it) Bitcoin and Gold will be obsolete, as it has been in pre-state epoches of humankind. Humans beyond the state live(ed) in self-sufficient communities without Gold, without money, without a market.

That's what we are doing in the majority of countries.

governments are there to serve the people, not the other way around.

Do we really allow a handful of people to decide what the rest of the world should do?

Do we?

Excellent point. 
You are absolutely right my friend.

Why do so many people view governments (aka "they") as monolithic, organized, single purpose organizations? The truth is that governments are just a bunch of fallible human beings.  The current system is working for these individuals, so they support it.  But if they see a credible threat, they will hedge (buy bitcoin in private), and if the see a sinking ship, they will jump.  


WHAT THE OP ASSUMED: governments will fight to maintain their power

WHAT HE SHOULD HAVE ASSUMED: individuals in government will fight to grow their power


OP, if you re-run your analysis assuming that individuals in government will look after their own self-interest and that of those closest to them, does this change the game-theory outcome?  

The way I see it is that once bitcoin is a credible threat, individuals in governments will hedge.  Those that hedged early will see they have more to gain by allowing bitcoin to win than by supporting the collapsing status quo.  They will tow the party line in public, but act in private in ways the stealthily support bitcoin.  

you noob Honeypot, haven't you ever heard of Bittorrent? Thanks to Bitcoin being released open source that is exactly what will happen in the future, it will be a never ending game of whack-a-mole anyone who is in the Bitcoin business will simply have servers etc. in Bitcoin friendly countries that the governments can't invade easily.

ROFL

Anyway.. no, governments won't allow it, they will try to extort as much as they can from people to retain their power.
This is just the beginning, they are trying to understand if they can make some money out of it before killing it.
The only problem with this is that cryptos are decentralized which not even a censorship can stop

And that wraps up this thread.

Ultimately, yes.

(note: I just read the title of this thread)

I don't think we can have any sort of civilized discussion if you are going to insult people.

We haven't had an attempt to stop bitcoin, and in my opinion, we won't see one.

Governments taking precautions and evaluating measures in the form of regulations or likely only temporary distance are not inherently aggressive maneuvers.  Not sure why they're seen in that light.  

It has the potential of becoming heavily adopted internationally, and can be of great benefit to many individual nation states.  It is in the best interests of any one country then, especially the powerful, to not make a detrimental long-term negative move.  In the same light, a similar positive move may be a bit premature.  If all the powerful governments could figure out a way to band together and put up a economical wall against the nation states who have every incentive to adopt bitcoin, then perhaps they would do so.  Unfortunately, that is not at all realistic or likely, not only because said countries are battling for supremacy against each other, but also given the intense rate of adoption.

So in that light, no, there's nothing governments can do.  They can play along, not play along and turn a blind eye, or not play along and expend policing on an inevitable underground market.

The people have spoken, many countries, understandably, are hugely in favor of it.  The fact that the powerful are so bent on power is part of bitcoins anti-fragility.  If the powerful don't want to experience even a slight tip in the scales, which they won't, then they simply have to find a way to mesh the old with the new.

Depends

If the market becomes large enough, there might be a serious need for more regulation in order to prevent fraud and give every investor an equal hand, in which case there would be nothing any of the coins could do to stop such regulation if the government insisted. Sure, you could argue all you want, but most people would jump on the chance to have more secure investment opportunities and to prevent against frauds and scams that seem to pop up weekly with Crypto coins. 

Even now they are doing everything they can to destroy Bitcoin. JP Morgan even tried to patent the technology. But the truth is that they are currently powerless to do so.

Instead of calling contributors to your thread fools, why don't you go study history and quote 1 example of a power being successful in stopping the adoption of a technology they did not like?

LOL as if they have a say in the matter. Hilarious

Don't be obtuse. The US government is not trying to shut down the Internet. Regulation is not the same as shutting down.

Its a distributed system. Bitcoin runs on TCP/IP and there will be always smart ways to prevent blocks. Do you think the government will shutdown the internet? US government is trying. Read about the new CISPA bill.

Except that crypto doesn't want such government interference as those imposed on transnational companies such as google.

Main conflict here is that governments are only willing allow things to grow if they get a slice of the action and is ultimately in control. What, does crypto have a standing army?