I guess I should have been more clear.
What I'm really asking is this. ..
If bitcoin and bitcoin businesses were regulated as much as anyone in any government wants, would bitcoin, is economy, is businesses, it's users, and is miners be able to deregulate it?
Topic: Govt Regulation thought experiment - page 2. (Read 1655 times)
if bitcoin is regulated, then i don't see the point
cannot Citi Bank or any large Corporation spend $XX million and use the open source bitcoin technology to create CitiCoin or BoACoin in short order? if they do it, it must of course be completely regulated by all the existing laws
would entities not associated with CitiCorp or BoA have any incentive to use it?
what is the incentive to use BitCoin? i thought it was something like this:
"Bitcoin is open-source. Nobody owns it; the most popular client is maintained by a community of open-source developers."
if it comes under government regulation, then this part isn't really true anymore. as soon as govt makes laws/regulations, they have control even if indirectly
"Bitcoin verifies transactions with the same state-of-the-art encryption that is used in military and government applications."
CitiCoin or BoACoin can do this
"Using the Bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing."
this is already changing with 0.8.2
what do i know, just a skeptical but hopeful n00b
cannot Citi Bank or any large Corporation spend $XX million and use the open source bitcoin technology to create CitiCoin or BoACoin in short order? if they do it, it must of course be completely regulated by all the existing laws
would entities not associated with CitiCorp or BoA have any incentive to use it?
what is the incentive to use BitCoin? i thought it was something like this:
"Bitcoin is open-source. Nobody owns it; the most popular client is maintained by a community of open-source developers."
if it comes under government regulation, then this part isn't really true anymore. as soon as govt makes laws/regulations, they have control even if indirectly
"Bitcoin verifies transactions with the same state-of-the-art encryption that is used in military and government applications."
CitiCoin or BoACoin can do this
"Using the Bitcoin network is free, except for a voluntary fee you can use to speed up transaction processing."
this is already changing with 0.8.2
what do i know, just a skeptical but hopeful n00b
Instead of speculating on what governed regulation might be coming down the line, I thought maybe we should start from the other direction.
What is the most govt regulation you can imagine?
Would that much regulation destroy bitcoin? crypto currencies in general?
Would bitcoin and is economy be able to handle that?
What would the response be from the bitcoin economy?
Would the outcome be acceptable?
If the bitcoin economy is so sure that bitcoin is indestructible, should regulation and government acknowledgment be desirable, if not forever at least in the short term?
additionally, the bitcoin economy is not a unified collective. perhaps only some of it should embrace regulation while other parts do not.
thoughts?
What is the most govt regulation you can imagine?
Would that much regulation destroy bitcoin? crypto currencies in general?
Would bitcoin and is economy be able to handle that?
What would the response be from the bitcoin economy?
Would the outcome be acceptable?
If the bitcoin economy is so sure that bitcoin is indestructible, should regulation and government acknowledgment be desirable, if not forever at least in the short term?
additionally, the bitcoin economy is not a unified collective. perhaps only some of it should embrace regulation while other parts do not.
thoughts?
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