|
Title: You know the governments of the world don't have to shut down bitcoin Post by: the founder on April 15, 2013, 02:22:08 PM I know much of the discussion around Bitcoin has always been that the Governments of the world can't shut down bitcoin because of it's peer to peer nature.
This much is pretty true, but I want to point out the fact that they don't have to shut down Bitcoin, but they can effectively turn it off anyway. All they need to do the same thing they did to Iran, North Korea and everyone else they don't like... in those countries they basically attacked their central bank and made conversions from each respective currency to something else far more difficult. In our case they do the same thing to Mt.Gox and any other exchange they want to. bitcoin won't shut down, but buying and selling them would head underground along with volume and liquidity. What would that take, a list of 5-6 exchanges... and now everyone is forced to use face to face transactions and cash type exchanges? My point is that they don't have to shut down bitcoin to shut down bitcoin.... hell even the underground sites like Silk Road would disappear to a large extent because the sellers there wouldn't be able to easily convert their currency into whatever the grocery store in their area accepts.. (and it wouldn't be bitcoin in that place because the grocery store would run into the same problem). I don't know about you, but I wouldn't send my bank account info though a faceless peer to peer system as they don't have the same level of protection that bitcoin does (which was designed for that). Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: the founder on April 15, 2013, 10:08:01 PM That's my take on it as well... I have always viewed it as digital Gold or Silver... not dollars or euros.
Capital Gains Taxes and everything else applies. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: Mike Christ on April 15, 2013, 10:20:45 PM It is unfortunate that so much anarcho-chatter fills the Bitcoin information feed. Bitcoin is a protocol, and a very intriguing one at that. We can do many interesting and potentially innovative things with it. We're not going to crush the nation-state or even bring it to its knees with Bitcoin. If anything, should we create commercially successful projects based on Bitcoin, we become a new source of tax revenues on our profits and capital gains. If one wants to be a moneypunk revolutionary, one can share a jail cell with the founders of some of the moneypunk 1.0 systems from the 1990s. Me? I'm in this for the money, and if I'm making money, I don't mind paying some taxes on the capital gains and on the profits. Not with that attitude, anyway ;D Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: yocko06 on April 16, 2013, 12:08:19 AM If everyone starts to use bitcoin then the governments won't try and persecute users because that will just force the users to tax evade through fear of trouble. They will allow the use of bitcoin and adopt it to prevent this. If the local shop excepts bitcoin then so does the rest of the community because it can be used. Bitcoin is no threat to governments unless it try's to make it illegal.
Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: securityguy on April 16, 2013, 12:14:08 AM This topic is forgetting one famous quote by Rothschild, "Give me control of a nation's money and I care not who makes it's laws".
Therefore the party who would interfere with bitcoin's development is the existing financial order and not governments themselves. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: yocko06 on April 16, 2013, 12:19:54 AM This topic is forgetting one famous quote by Rothschild, "Give me control of a nation's money and I care not who makes it's laws". Therefore the party who would interfere with bitcoin's development is the existing financial order and not governments themselves. That's more like it. The threat isn't the governments it's the people who control the money. Or maybe they will adopt bitcoin now and the system remains the same with only a few new big players in the game. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: yocko06 on April 16, 2013, 12:24:57 AM Yeah they will need to modernize the tax system. This was inevitable anyway. The idea is out now so if bitcoin did fail there will be something like it that starts up. The system Is to good to not continue
Title: Decentralized markets Post by: mobile4ever on April 16, 2013, 01:12:44 AM This much is pretty true, but I want to point out the fact that they don't have to shut down Bitcoin, but they can effectively turn it off anyway. All they need to do the same thing they did to Iran, North Korea and everyone else they don't like... in those countries they basically attacked their central bank and made conversions from each respective currency to something else far more difficult. In our case they do the same thing to Mt.Gox and any other exchange they want to. I believe bitcoin exchanges should match bitcoin; decentralized. The "official" decentralized market/exchange thread is here: https://bitcointalk.org/index.php?topic=172705.0;all Plus, all that is needed to make a decentralized market is a PHP plugin: https://bitcointalk.org/index.php?topic=145389.0;all If a PHP programmer would like to contact me, we can get this off the ground. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: Luckybit on April 16, 2013, 02:00:26 AM I know much of the discussion around Bitcoin has always been that the Governments of the world can't shut down bitcoin because of it's peer to peer nature. This much is pretty true, but I want to point out the fact that they don't have to shut down Bitcoin, but they can effectively turn it off anyway. All they need to do the same thing they did to Iran, North Korea and everyone else they don't like... in those countries they basically attacked their central bank and made conversions from each respective currency to something else far more difficult. In our case they do the same thing to Mt.Gox and any other exchange they want to. bitcoin won't shut down, but buying and selling them would head underground along with volume and liquidity. What would that take, a list of 5-6 exchanges... and now everyone is forced to use face to face transactions and cash type exchanges? My point is that they don't have to shut down bitcoin to shut down bitcoin.... hell even the underground sites like Silk Road would disappear to a large extent because the sellers there wouldn't be able to easily convert their currency into whatever the grocery store in their area accepts.. (and it wouldn't be bitcoin in that place because the grocery store would run into the same problem). I don't know about you, but I wouldn't send my bank account info though a faceless peer to peer system as they don't have the same level of protection that bitcoin does (which was designed for that). How do they stop Bitcoin 2.0, Litecoin, PPcoin, Memcoin, Zerocoin, and anything else? They attack Bitcoin and there will just be more coins, more protocols, more hardware, better algorithms, and possibly even more financial and intellectual support. Bitcoin may go but cryptocurrencies are here to stay in one form or another. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: gradient vector on April 16, 2013, 02:13:25 AM This topic is forgetting one famous quote by Rothschild, "Give me control of a nation's money and I care not who makes it's laws". Therefore the party who would interfere with bitcoin's development is the existing financial order and not governments themselves. This just in. U.S. government controlled by financial elites. Title: Re: You know the governments of the world don't have to shut down bitcoin Post by: Mike Christ on April 16, 2013, 02:31:21 AM This topic is forgetting one famous quote by Rothschild, "Give me control of a nation's money and I care not who makes it's laws". Therefore the party who would interfere with bitcoin's development is the existing financial order and not governments themselves. This just in. U.S. government controlled by financial elites. Damn, that hot chick in the motor tax office is an undercover bankster? She probably has a monocle and mustache stored under that super-hot mask, too. Huff huff, I say! |