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Topic: The Law of Blockchain: Beyond Government Control? - page 2. (Read 260 times)

hero member
Activity: 2730
Merit: 632
You have raised a very interesting topic here. The answer is no for bitcoin or for any other similar currency. I am not considering centralized currencies like smart contract tokens or Tether. If we consider currencies like bitcoin and litecoin, trying to get control over it will remain as a big joke for the government watchdogs because it is not possible technically due to the pseudo anonymous nature of blockchain. Without any central location to track, the governments will end up chasing a non existent oasis in the dessert.

However, if you maintain an account with an online wallet provider, then there is a chance of being caught if the company agrees to hand over the user's data to a particular government.

The government can even try to restrict access to the internet within their boundaries the way India tried to ban porn sites. But using tor or vpn, this restriction can be easily bypassed. So it is indeed beyond control of the governments and that's the only bottleneck we are facing towards the adoption.
In general means, they would like to completely shutdown on the things that they arent able to control which blockchain technology or on decentralized coins in the market will really be their priority and figuring it out on how manage it but same as you said this would really like finding an non-existent oasis on a big dessert. There are ways but not totally a big blockage on such increasing adoption of crypto.

Probably few governments would try to completely shut it down, but the question is, would they be able to do it? I believe no! Complete blockage can't be achieved by any means. Yes, if the government starts ruling like North Korea, that every crypto users will be facing firing squad, then probably it will be achieved through fear. But technically it is not possible. There are ways to bypass government security protocol. People will start using those if a government tries to block the crypto currency by force.
Yes it can be crippled with fear but same as you said it wouldnt able to completely stop when it comes to technical means where there would be always a transaction which government cant able to monitor on. The thing ive been saying which if they would decide for close exchangers or impose not to have a complete exchange with fiat directly with crypto then this would really be a great problem but it seems this thing is nearly impossible to happen as long government can able to see benefits with crypto they will always consider it to work in other way.
sr. member
Activity: 2366
Merit: 332
In general means, they would like to completely shutdown on the things that they arent able to control which blockchain technology or on decentralized coins.....There are ways but not totally a big blockage on such increasing adoption of crypto.

What is the possibility of then blocking what they don't have control over. This seem very impossible. Bitcoin is decentralized and very difficult to control.
legendary
Activity: 3080
Merit: 1500
You have raised a very interesting topic here. The answer is no for bitcoin or for any other similar currency. I am not considering centralized currencies like smart contract tokens or Tether. If we consider currencies like bitcoin and litecoin, trying to get control over it will remain as a big joke for the government watchdogs because it is not possible technically due to the pseudo anonymous nature of blockchain. Without any central location to track, the governments will end up chasing a non existent oasis in the dessert.

However, if you maintain an account with an online wallet provider, then there is a chance of being caught if the company agrees to hand over the user's data to a particular government.

The government can even try to restrict access to the internet within their boundaries the way India tried to ban porn sites. But using tor or vpn, this restriction can be easily bypassed. So it is indeed beyond control of the governments and that's the only bottleneck we are facing towards the adoption.
In general means, they would like to completely shutdown on the things that they arent able to control which blockchain technology or on decentralized coins in the market will really be their priority and figuring it out on how manage it but same as you said this would really like finding an non-existent oasis on a big dessert. There are ways but not totally a big blockage on such increasing adoption of crypto.

Probably few governments would try to completely shut it down, but the question is, would they be able to do it? I believe no! Complete blockage can't be achieved by any means. Yes, if the government starts ruling like North Korea, that every crypto users will be facing firing squad, then probably it will be achieved through fear. But technically it is not possible. There are ways to bypass government security protocol. People will start using those if a government tries to block the crypto currency by force.
full member
Activity: 1330
Merit: 147
I think bitcoin and blockchains are born against all the centralized systems. Lots of depravity that there is a centralized system, either from the economic system or some things that concern the lives of the people. Everything that has a centralized system will always have pros and cons because it is always not balanced with the desired.

For the government they can do is watch slowly people will choose to use blockchain and bitcoin. Because even the decentralized government system will not be able to manage it. And the regulation of bans on bitcoin for a country is only a temporary effect.
hero member
Activity: 2730
Merit: 632
You have raised a very interesting topic here. The answer is no for bitcoin or for any other similar currency. I am not considering centralized currencies like smart contract tokens or Tether. If we consider currencies like bitcoin and litecoin, trying to get control over it will remain as a big joke for the government watchdogs because it is not possible technically due to the pseudo anonymous nature of blockchain. Without any central location to track, the governments will end up chasing a non existent oasis in the dessert.

However, if you maintain an account with an online wallet provider, then there is a chance of being caught if the company agrees to hand over the user's data to a particular government.

The government can even try to restrict access to the internet within their boundaries the way India tried to ban porn sites. But using tor or vpn, this restriction can be easily bypassed. So it is indeed beyond control of the governments and that's the only bottleneck we are facing towards the adoption.
In general means, they would like to completely shutdown on the things that they arent able to control which blockchain technology or on decentralized coins in the market will really be their priority and figuring it out on how manage it but same as you said this would really like finding an non-existent oasis on a big dessert. There are ways but not totally a big blockage on such increasing adoption of crypto.
legendary
Activity: 3080
Merit: 1500
You have raised a very interesting topic here. The answer is no for bitcoin or for any other similar currency. I am not considering centralized currencies like smart contract tokens or Tether. If we consider currencies like bitcoin and litecoin, trying to get control over it will remain as a big joke for the government watchdogs because it is not possible technically due to the pseudo anonymous nature of blockchain. Without any central location to track, the governments will end up chasing a non existent oasis in the dessert.

However, if you maintain an account with an online wallet provider, then there is a chance of being caught if the company agrees to hand over the user's data to a particular government.

The government can even try to restrict access to the internet within their boundaries the way India tried to ban porn sites. But using tor or vpn, this restriction can be easily bypassed. So it is indeed beyond control of the governments and that's the only bottleneck we are facing towards the adoption.
newbie
Activity: 99
Merit: 0
Blockchain is the most disruptive technology since the Internet, and its arrival raises hard questions about how — or if — judges and governments can control it. Should federal agencies, for instance, seek to impose “net neutrality” style rules to promote fairness on blockchain networks? Should treasury departments run mining operations to influence digital currencies like bitcoin?

Read more: http://fortune.com/2018/05/10/blockchain-law/
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