two points to make.
banks love their FIAT, they dont care about prisoners trading cigarettes or kids trading pokemen cards in exchange for extra food. they only care about their beloved FIAT. instead of a foreign employee putting the FIAT into an envelope and sending it out the country back to their homeland, thus taking it out of local economy. with bitcoin people in france will do bank transfers with other people in france when purchasing bitcoin through localbitcoins.com or meetups etc, thus keeping the FIAT circulating within france, which is what the banks love. they dont care that bitcoin may then be sent to UK, US or singapore. as its not their problem.
secondly, using a few hops,skips and a jump ill just leave a few words listed for you to research into their connections and why the french economy wont make bitcoin illegal
France
EURO
Eurozone
Frankfurt Germany
Fidor Bank Germany
Bitcoin
Topic: What would happen to btc if.... - page 2. (Read 2110 times)
Fear would reign.
Longer term: consider, how often does a banned commodity become cheaper and then remain that way? Illegal drugs or guns, for example? How effective has the government's ban proved to be on downloading copyrighted material? Consider Bitcoin analogous to BitTorrent.
Longer term: consider, how often does a banned commodity become cheaper and then remain that way? Illegal drugs or guns, for example? How effective has the government's ban proved to be on downloading copyrighted material? Consider Bitcoin analogous to BitTorrent.
I agree it doesn't seem like there is much the government can do about Btc it in the long term, apart from segregation and driving it underground.
I wish I had a crystal ball!!
NB this is pure speculation.
I don't think governments right now have much appetite for banning cryptocurrency per se. Their main concern appears to be focused on the AML aspects of those involved with trading crypto into and out of fiat. Banks may be more nervous, however, and have a habit of freezing bitcoin-related fiat accounts.
If bitcoin were banned, in a coördinated effort worldwide (as unlikely as that may seem)...
Short term: the market might well take a hit, in similar style to the SR panic but probably on a larger scale, bigger than just a "flash crash". Fear would reign.
Longer term: consider, how often does a banned commodity become cheaper and then remain that way? Illegal drugs or guns, for example? How effective has the government's ban proved to be on downloading copyrighted material? Consider Bitcoin analogous to BitTorrent.
I don't think governments right now have much appetite for banning cryptocurrency per se. Their main concern appears to be focused on the AML aspects of those involved with trading crypto into and out of fiat. Banks may be more nervous, however, and have a habit of freezing bitcoin-related fiat accounts.
If bitcoin were banned, in a coördinated effort worldwide (as unlikely as that may seem)...
Short term: the market might well take a hit, in similar style to the SR panic but probably on a larger scale, bigger than just a "flash crash". Fear would reign.
Longer term: consider, how often does a banned commodity become cheaper and then remain that way? Illegal drugs or guns, for example? How effective has the government's ban proved to be on downloading copyrighted material? Consider Bitcoin analogous to BitTorrent.
the higher authorities declared it to be illegal?
At the moment I'm one of a handfull of businesses in France that will accept this currency and from the people that I've met in person (that know about btc) still consider it to be way too high risk to get involved.
What would be a black swan event for btc? What could possibly go wrong?
Thanks in advance for your opinions.
At the moment I'm one of a handfull of businesses in France that will accept this currency and from the people that I've met in person (that know about btc) still consider it to be way too high risk to get involved.
What would be a black swan event for btc? What could possibly go wrong?
Thanks in advance for your opinions.
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