Bitcoin Forum

I do feel sorry for the average Australian right now, having to deal with that Tony Abbott character and now the government is apparently driving businesses away or forcing them to close with unfair taxes and regulations. http://thecoinfront.com/thoughtless-taxes-stifle-innovation-and-australia-has-proven-it/

When I argue for stronger, easier anonymity, I am often retorted with the point that Bitcoin will simply move to jurisdictions that favor it.

However this misses the point that a global map of mishmash regulations is antithetical to a widespread fungible currency. Precisely what makes a currency desirable (and thus makes it a currency because everyone accepts it) is its ubiquity.

The takeaway from this is that no crypto-currency can become ubiquitous, because Bitcoin will be mishmash regulated (some jurisdictions better than others) and a strongly anonymous coin wouldn't be accepted (https://bitcointalk.org/index.php?topic=880088.msg9728749#msg9728749) by everyone.

And this favors a fiat global currency (or regional currencies) gaining ubiquity. Which is surely what will be the end result.

So if you ask me, I'd rather have a strongly anonymous currency that can support extremely lucrative black markets (https://bitcointalk.org/index.php?topic=884100.msg9753119#msg9753119), versus the above futility of Bitcoin. Come on, the writing is on the wall. Deny it all you want. I don't care. Go ahead now and do your typical damage control.

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Separating reality from hopeful delusion, is crucial for picking what to expend effort and resources on.