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Topic: Govts want crypto they can control - page 2. (Read 1055 times)

legendary
Activity: 1946
Merit: 1007
February 25, 2016, 02:03:36 AM
#6
First of all, the article was good and agreed on most points. The thing with governments is that, they never do their job and would always like to jump from level 1 straight to level 10 difficulty, without knowing the basics and that's were all the complications arises. They never seem to correct whats wrong from the base and expect to take control of something far more than they could handle. Not sure if their only worried about control or their worried about losing the battle among cash vs digital currencies. There's a reason that there is already a cashless country (Sweden IIRC) and more will surely follow. They could try to take control of crypto currencies but they would never be able to control it in full terms.

Agreed fully here. Governments always seem to put themselves in posititions where their strengths are not used and they always end up needing to patch things.

If a fully controlled crypto was out, what would prevent the users from creating side chains / co existing chains that most people will use only to change them to the government controlled unit when a purchase needs to be done? Let's say the payment processors we have now could take the role but instead of changing directly to fiat, they change to the controlled crypto.
legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
February 25, 2016, 01:47:50 AM
#5
First of all, the article was good and agreed on most points. The thing with governments is that, they never do their job and would always like to jump from level 1 straight to level 10 difficulty, without knowing the basics and that's were all the complications arises. They never seem to correct whats wrong from the base and expect to take control of something far more than they could handle. Not sure if their only worried about control or their worried about losing the battle among cash vs digital currencies. There's a reason that there is already a cashless country (Sweden IIRC) and more will surely follow. They could try to take control of crypto currencies but they would never be able to control it in full terms.
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
February 25, 2016, 12:42:16 AM
#4
To be honest the governments could not control cash, how would Crypto currencies give them more control? There are two types of control, namely :

a. Manipulating the value of the currency < Printing it like toilet paper, like they are doing now >
b. Tracking the money flow to catch criminals < Marking notes and surveillance systems in ATM's when you withdraw it >
legendary
Activity: 2282
Merit: 1023
February 25, 2016, 12:24:10 AM
#3
I'm with Apple here.

By looking at the case alone, it seems like Apple should help to unlock the phone to extract whatever information within. Many people feel that Apple is wrong for not doing this- I feel the same too!

However, when you look at the broader picture, if Apple decided to help this time round, it will set the "first example" and in future the government can make use of this "example" to request phone makers for whatever they want...

I inclined to agree with you.
legendary
Activity: 2940
Merit: 1865
February 24, 2016, 10:53:16 PM
#2
...

Cranky4u

Nice article, thanks for posting.  In my case, I find that I can spend CA$H quickly, especially if I want to buy gold.  Paying with cash helps keep buying Au a tad more private.

I'm going to guess that part of your inspiration in posting was the FBI-Apple iPhone imbroglio, where (if I understand correctly, and, ahh, well...) Apple has an excellent essentially unbreakable encryption system for keeping out anyone but the owner (via limiting password attempts).  The FBI wants to break into the California terr's phone to see whom he called...

But we all know what is going to happen if Apple gives in.  Every little drug investigation, every little everything then becomes fair game, and we have even less privacy than before.

.gov has proven many times that they abuse the kinds of powers they now seek.  I'm with Apple here.
hero member
Activity: 810
Merit: 1000
February 24, 2016, 10:14:09 PM
#1
http://www.news.com.au/finance/money/wealth/the-warning-signs-for-the-future-of-cash/news-story/2a5607982ba7bbbb679cf058135bbc0e

Govts want to do away with cash BUT only for a crypto-coin they can control!

Article in Australia today!
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