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Author Topic: [2015-11-03] Bitcoin to be ruled illegal in Taiwan  (Read 862 times)
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Titanium - Blockchain Infrastructure Services

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November 06, 2015, 10:42:21 AM

Pretty much any nation using fiat is going to wind up going this path at some point in time.  All the talk about protection is just fluff, adults aren't children and can certainly be prudent about how they handle their finances; this is about ensuring that nothing can compete with the central bank's power, which stems from printing fiat (i.e. transfer of wealth from the population to the central bank, and by connection the state), which bitcoin thwarts since the banks can't print it.  Void of this power to print, they'd have to go back to borrowing and taxation, and that will, at minimum, reduce the power of the state drastically (since they'd have to take a lot more from you directly, thus you'd feel the effects of their spending), and at maximum, result in overthrowing the reigning regime (in the case that they are stubborn about how they're spending.)  That is no bueno for those with such power, that means they must stop anything which threatens that power.

The sad part is, all this will do is turn what would've been a voluntary transaction into a criminal act; the crime rate in Taiwan will rise simply because of this new law.  Any law-abiding citizen will avoid bitcoin if they can, which means major businesses are sure to stall adoption indefinitely, and the smaller businesses can't afford whatever consequence will befall them; this not only stunts the spread of bitcoin but limits it to people who don't care about breaking the law, which will likely strengthen the association between bitcoin and other criminal activities, in the same way that alcohol was associated with criminal behavior when it was banned, and the same way certain drugs are banned now.  This gives them more ammo against bitcoin--not that they aren't already doing everything they can to associate bitcoin with criminality.  It's almost like the MSM is bought off or something... Grin

they don't have that power.
why bitcoin is supported by theese guys. the hacker community , who happend to be needed by the NSA , FBI , CIA , MI6 . FSA etc....
they can not do anything without theese guys....
the creator/author  of VPRO backlight zero days , is the same one as the bitcoin gospel

In fact he tells this in the dutch (backlight/tegenlicht meeting) ( for dutch people)
what does this mean....
well they guys were a state is dependend on for its secret service cyber war will not cooperate with anything hurting bitcoin.
its there child , and states  depend on hackers to attack bitcoin.


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