If governments do make this distinction, they would be effectively be banning the use/exchange of truly decentralized cryptocurrencies like Bitcoin. I doubt if any major, liberal western government can take that step without appearing to be a Luddite. They can regulate the hell out of exchanges and institutions using Bitcoin, but to ban them would look to be a regressive step. And let us face it, governments are worried about their image.
Even in the extreme case, if this does happen, people are not stupid. They will see through the permissioned blockchains for what they are - an extension of the current fiat system, with all its associated problems.
Topic: They are coming with a new way to attack Crypto currencies! - page 3. (Read 1305 times)
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
supported by whom?
bitcoin which is THE permission-less system is supported by peers aka its users. and the real bitcoin users will never give up the decentralized bitcoin for a centralized altcoin that the government creates. if they wanted to do that, they would have continued using banks and never even looked at bitcoin twice.
and that was the whole purpose of bitcoin. it was never created to be supported by the government, or be listed on exchanges or have the option to be bought/sold with fiat. these are all things we added later because we wanted to make profit.
Totally agree with you
but thanks to this, many people have learned about bitcoin and other cryptocurrency and crypto community has become larger.
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
supported by whom?
bitcoin which is THE permission-less system is supported by peers aka its users. and the real bitcoin users will never give up the decentralized bitcoin for a centralized altcoin that the government creates. if they wanted to do that, they would have continued using banks and never even looked at bitcoin twice.
and that was the whole purpose of bitcoin. it was never created to be supported by the government, or be listed on exchanges or have the option to be bought/sold with fiat. these are all things we added later because we wanted to make profit.
You are missing my point. The governments will support/allow Permissioned Blockchains and they will ban Permissionless Blockchains. Your choice to support Permissionless Blockchains will not matter to them, because they will regulate it. They cannot stop it, because it is a decentralized technology, but they can make a clear division between the two types of technologies and how to regulate it.
Decentralized Public Permissionless Blockchains will still exist, but it's use will be severely restricted by these governments. People will still be able to choose which one they will be using and investing in, but regulated exchanges and merchants will not have a choice.
We should concentrate more on the development of decentralized services like OpenBazaar and decentralized exchanges, because these services will be the future of Permissionless Crypto currencies.
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
supported by whom?
bitcoin which is THE permission-less system is supported by peers aka its users. and the real bitcoin users will never give up the decentralized bitcoin for a centralized altcoin that the government creates. if they wanted to do that, they would have continued using banks and never even looked at bitcoin twice.
and that was the whole purpose of bitcoin. it was never created to be supported by the government, or be listed on exchanges or have the option to be bought/sold with fiat. these are all things we added later because we wanted to make profit.
https://www.forbes.com/sites/jasonbloomberg/2018/03/10/we-need-to-shut-bitcoin-and-all-other-cryptocurrencies-down-heres-why/#7153f03b1bca
Their strategy is simple :
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
Your typical BankCoins and GovCoins will be Permissioned Blockchains and they will be controlled by centralized authorities. These coins will adhere to all AML/KYC regulations and they will have full control over what transactions will be mined. They will be able to "blacklist" and "reverse" transactions and even block certain addresses, because they control the Blockchain.
We will see them banning "Public" Blockchains and allowing government verified "Private" Blockchains soon. This is coming, because a lot of people are pushing for this.
Let's educate people on the dangers of these "Private" / "Permissioned" Blockchains and stop investing in them.
Their strategy is simple :
Make a clear division between Permissionless vs. Permissioned Blockchains and act accordingly. This will effectively mean that all Permissionless Blockchains will get targeted and Permissioned Blockchains will be supported.
Your typical BankCoins and GovCoins will be Permissioned Blockchains and they will be controlled by centralized authorities. These coins will adhere to all AML/KYC regulations and they will have full control over what transactions will be mined. They will be able to "blacklist" and "reverse" transactions and even block certain addresses, because they control the Blockchain.
We will see them banning "Public" Blockchains and allowing government verified "Private" Blockchains soon. This is coming, because a lot of people are pushing for this.
Let's educate people on the dangers of these "Private" / "Permissioned" Blockchains and stop investing in them.
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