I've been laying awake in bed at night wondering just what the major world governments can do to halt the spread of bitcoin. Let's face it, it is not in their best interests if they want to retain control of monetary policy, control interest rates, money supply, etc. I am 100% certain that bitcoin is the solution to the current raping of future generations through the slack, sloppy policies of money printing (I refuse to use the official term quantitative easing) and artificially low interest rates.
If government wanted to ensure that bitcoin never took hold in the mainstream, they could:
- Increase regulation to the point that the economics of using bitcoin become unattractive (humans respond to incentives)
- Simply outlaw bitcoin transactions by corporate retailers (and other corporations such as financial institutions)
- Outlaw bitcoin exchanges
If bitcoin is discouraged by the State, and I see no reason why they would not attempt to do that, then what future does bitcoin really hold? Can mass market adoption really occur if the State is against it? Would appreciate some thoughtful answers on this topic, or pointers to articles already written on it.
Might help me sleep at night.
