Bitcoin Forum
December 11, 2017, 12:25:16 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin does it really depends on government's blessing ?  (Read 573 times)
Nicolas Dorier
Hero Member
*****
Offline Offline

Activity: 700


View Profile
June 12, 2014, 09:55:45 PM
 #1

There is two kind of point of view on the subject about Bitcoin and the power the government will have on it.

One side of the story comes from Milton Friedman in 1999 https://www.youtube.com/watch?v=fYD17h6hlCs
He expected that what he calls "e-cash" but what we now call "crypto" will shrink government power by making it harder to collect taxes. He is delighted of it, he is libertarian.

On the other side Martin Armstrong thinks Bitcoin will not survive http://armstrongeconomics.com/2013/11/20/the-bitcoin-hearing/, because government will not use allow it if they can't taxe it.
Armstrong believes we will suffer from deflation crisis, thus, pushing people to buy bitcoin is acting like a pump of $, which will provoke, along with taxes, a shortage of $.

However, I think that despite the $ deflation caused by taxes, I think people will be incentived to use BTC, and not $ as a medium of exchange. And that, despite of any $ deflation.
Sadly, Armstrong does not elaborate very deeply into this subject, nor why he thinks the gov can stop bitcoin.

Sure I expect government to protect their eggs. But I don't think that any of their regulation can influence bitcoin on the long term.
Provoking a $ deflation would plumb Bitcoin's value, but I don't think this will offset the incentive of the benefit of trading without a tax middle man.

What do you think ?

Bitcoin address 15sYbVpRh6dyWycZMwPdxJWD4xbfxReeHe
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1512995116
Hero Member
*
Offline Offline

Posts: 1512995116

View Profile Personal Message (Offline)

Ignore
1512995116
Reply with quote  #2

1512995116
Report to moderator
Pente
Hero Member
*****
Offline Offline

Activity: 492



View Profile WWW
June 12, 2014, 10:25:50 PM
 #2

They are selling seized coins. Guess they are admitting it has value.

ljudotina
Legendary
*
Offline Offline

Activity: 1036


View Profile
June 12, 2014, 10:33:48 PM
 #3

Price surely depends on that will it be blessed or not. If it's blessed, price will be higher than if it's not. That's about it. Making it illegal all over the world would drop the price, but it wouldnt kill it.
boraf
Full Member
***
Offline Offline

Activity: 181


View Profile
June 12, 2014, 10:41:55 PM
 #4

Peer to peer music and video sharing are still alive and well after being threatened to shut down for so many years.
ljudotina
Legendary
*
Offline Offline

Activity: 1036


View Profile
June 12, 2014, 11:56:15 PM
 #5

Peer to peer music and video sharing are still alive and well after being threatened to shut down for so many years.

Yes, but they did not evolve into wha they coud have (peer to peer youtube service etc.). It took much much longer to get to this stage where they are working on exactly that...peer to peer watching movies and music. Kunda Youtube but peer to peer. If it had goverment blessing, we would have it already and noone would know what youtube is.
Good example is torrent add-on for XBMC. Fir eup program, type in something and play directly from internet if it's found. Pick option to save to disk or not. Cool stuff.
But that's XBMC add-on. Torrent guys are working on something similar but on torrent protocol level.
Nicolas Dorier
Hero Member
*****
Offline Offline

Activity: 700


View Profile
June 13, 2014, 12:00:15 AM
 #6

Peer to peer music and video sharing are still alive and well after being threatened to shut down for so many years.

Yes, but they did not evolve into wha they coud have (peer to peer youtube service etc.). It took much much longer to get to this stage where they are working on exactly that...peer to peer watching movies and music. Kunda Youtube but peer to peer. If it had goverment blessing, we would have it already and noone would know what youtube is.
Good example is torrent add-on for XBMC. Fir eup program, type in something and play directly from internet if it's found. Pick option to save to disk or not. Cool stuff.
But that's XBMC add-on. Torrent guys are working on something similar but on torrent protocol level.

If we extrapolate to bitcoin (xbmc), some private companies will develop their own centralized crypto. (youtube)
Not an appealing future for sure...

Bitcoin address 15sYbVpRh6dyWycZMwPdxJWD4xbfxReeHe
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!