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Author Topic: It's difficult to set a law over country border  (Read 1241 times)
johnyj
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October 17, 2012, 03:52:28 AM
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The biggest difficulty in finding BTC related laws is that BTC's position is higher than any government issued money, it is global

Current laws seldom go over country border, due to the difference in culture and constitution. For example the interbank market is not regulated, it is purely banks' playground

Same as internet, at international level, it is very difficult to regulate, the only thing people can do is protecting themself from being harmed, and benefit from the best of it

For example, chinese government set a stop to all youtube clips (so called ideology control), while another country will see no reason for that, and chinese people lose lots of useful information in this practice

Same, one country can stop BTC, but they also miss the big opportunity brought by this new medium of exchange, and who knows the first country who officially supported BTC (Iceland) will become a robust country in finance since it got rid of banks' control

BTC do not conflict with local currency, it just added another choice, which suit inflation-hating people's taste

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December 02, 2012, 09:02:39 AM
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It is a good thing bitcoin does not require any sort of external regulation.

Free market is not just an option for bitcoin, it is the only option.

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December 09, 2012, 06:19:10 AM
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Same, one country can stop BTC, but they also miss the big opportunity brought by this new medium of exchange, and who knows the first country who officially supported BTC (Iceland) will become a robust country in finance since it got rid of banks' control


What does that mean? Cite it?

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December 09, 2012, 04:08:07 PM
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I don't think Iceland supported bitcoin, I think one of their higher ups just said that he does not think there is anything illegal about it. This is just from memory though.

Music is amongst the greatest treasures on Earth. Pink Floyd, Hendrix, Cat Stevens, the Beatles and so many more have made me so happy. "Love is better than a song." -  Cat Stevens
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