Topic: The Bitcoin Cold War has begun - page 2. (Read 3678 times)

Banning things that cannot be actually regulated makes them more popular.

Prohibition anyone?

Heroin in the middle east?

Bitcoin won't work in that scenario. It takes a radio signal between 4 minutes (which might be alright) to 24 minutes (won't work) to travel from Earth to Mars, depending on each planet's position on its trip around the sun. We'd need some other currency with a longer block time, or we'd need to deal with an overwhelming proportion of double spends.

I am looking forward to the day when interplanetary trade becomes a factor. ... interplanetary traders ... will insist on cryptocurrencies as payment.

I am looking forward to the day when interplanetary trade becomes a factor. I'm kinda writing a science fiction story based on the idea that interplanetary traders will have very little patience for the old moribund financial systems of Earth and will insist on cryptocurrencies as payment. They'll kinda force the issue of over-regulation and Earth will face a choice between giving up the old systems to allow cryptocurrencies free rein or facing economic collapse.

There were a ton of winners in the cold war - everyone alive who had a hot war prevented.

Interesting post, cbeast.  I enjoyed reading it. 

In the coldwar there were no winners.

In this war, there will be a winner, just not sure yet who it will be.

I don't really see how this countries can stop Bitcoin.
Bitcoin is virtual currency, not paper, so they can't control it directly.
They can try to control Internet but this is very different story.
I think they don't like Bitcoin because they can't control it, can't collect taxes, check how much their citizens earned from it etc.
So, in this war they can't win, for sure

China bans Bitcoin, then unbans, then bans. Then Argentina, Russia, Bolivia and New York do the same. At first the Bitcoin market reacted wildly, now not so much. Bitcoin is the economic battlefield of this century. Sovereigns are finding that simple denial won't make the blockchain go away. They want to do what governments do, and that is to regulate. Bitcoin says otherwise.

Sure governments can slow down adoption by banning its public use, but they are finding that more progressive nations are using that as an opportunity to gain advantage in the technology. Then comes the escalation. Oppressive regimes begin a series of doublespeak where they welcome Bitcoin, but attempt to undermine its development through propaganda. They allow banks to set government policy thinking it is in the best interest of the nation. None of them realize that Bitcoin was developed for people, not institutions.

The war will continue to escalate. More bans and more regulations will break the news, but meanwhile governments will be accumulating bitcoins because they know how the endgame is played. They know their power is threatened by Bitcoin and will tear each other apart over how to take that power. They will also tear themselves apart with internal power struggles.

This is just silly. The war analogy may appeal to the legacy financial system and Tsun Tsu fans, but Bitcoin is beyond the reach of those anachronistic social phenomena. Math is for everyone. It's not a weapon to be manipulated by bullies. This is the opportunity to develop decentralized lending and commerce. It's also the time to develop tools that can be used by the lowliest and poorest amongst us. The endgame is that Bitcoin is power. Let's make sure that power is decentralized and accessible to all.

"Bitcoin is the economic battlefield of this century"

I want some of what you're smoking on.

"They want to do what governments do, and that is to regulate. Bitcoin says otherwise."

Thanks for the clarification, I didn't know it was the governments duty to govern. What bitcoin says, about 99.99% of the worlds population, at this point, does not care about.

"They know their power is threatened by Bitcoin and will tear each other apart over how to take that power. They will also tear themselves apart with internal power struggles."

You think they could build PRISM, but not decimate what you consider to be the bitcoin network in a heartbeat, if they really wanted to?

"Let's make sure that power is decentralized and accessible to all."

And this is where you lose it. Posts like this are the reason people are moving away from bitcoin much faster than they are coming. Get some fresh air, kid.

Bitcoin will win the war!