SEB prohibited me from using their bank account to do bitcoin business
Due to low traceability, the easiest way for government to regulate bitcoin today is to treat it exactly like cash. All the limitations to cash applies to bitcoin, like daily/weekly withdraw limit from exchanges and maximum amount of bitcoin that you can buy/sell from exchanges each month
That will stop large amount of speculative bubbles and large scale money laundering. However, that will not stop business using bitcoin to do large transactions without touching fiat money. So I guess for business similar rules will also apply: No bitcoin payment is allowed above certain amount. Since businesses are much easier to regulate, they will follow the rules
And this will not stop people from using it as an investment vehicle, purchase a few coins monthly and spend them after many years. For exchanges and institutions, the capital flow cap might be lifted
Good points. I suspect that much like the tax relocation of Business to favorable jurisdiction will occur, much like the apple ireland holand thing.
Some countries will most likely always have favorable laws to attract capital, and the companies will set up effective vehicles to transfer funds this way.
A competitive advantage will occur in those companies allowing them to offer better goods and services at a cheaper price thus the consumer will bring pressure to bare to retain those goods and services.
BTC allows this to happen on an unprecedented scale.
However this set up is more suited to PeerCoin for large amount transfers and lesser transactions.
I see countries and large money markets as well and companies using BTC/PPC tech to make trustless verifiable transfer of capital (ie market signals) and accrue massive gains as the parasitical but needful in the old system effect of Backs and States to back them being the ledger keeper.
In some ways much like holding all the gold in one location and swapping the labels on the bars to keep records, except we know how that worked out when you actually wanted the gold back.
BTC can perform both functions a large pool of swappable signal that you can verifiable prove and do not have to relinquish to participate in the potential for the swap. Eg merely holding and BTC makes you part of the game.
