| That's another problem cryptocurrencies solve. You'd think that when people say governments and banks provide currencies, that they'd provide very basic services related to that, such as the ability to get currency into an account. As any business owner can tell you, they don't provide these services. Which of course means that someone could step in, provide these services, and actually has a chance of success. It sounds so incredibly absurd, but it's actually true: governments do not provide the ability to transact in currency. Only banks do, and only for hefty fees. Hell, the aborted attempt by Varoufakis to issue a tax-backed currency by the Greek IRS would have been the first time I've heard any state providing such a service. One might think, in reaction, governments would be a little worried and then 2 reactions are possible: a) governments could make sure these services are provided. Basic banking services, after all, are a complete necessity in todays world. In trade they'd get insight, maybe even a little control, and would make a LOT of people very happy, because the government is omnipresent, and a lot of people feel that banks exploit things (e.g. cashing checks in the US). b) governments could punish everyone involved, AND threaten everyone until insight is, grudgingly and only after every option to obfuscate things is utilized to the maximum extent, provided. Of course in the case of b), insight would be a punishment inflicted on businesses and people, and make it very clear to everyone involved that citizens and the government are each other's enemy, and therefore naturally everyone would be trying to make that insight as useless as possible. Needless to say, every government on the planet has chosen only a single avenue, namely b). Can I just say: may God help governments as soon as someone realizes a way to provide a cryptocurrency that can't be easily blocked over radio or ... because it will turn into an utter disaster for them very quickly. Or perhaps I should say: the first government to issue a tax-backed currency with a government provided ability to transact, banks, the entire financial sector, and all other governments are in extreme trouble. |