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by efnx
4881 days ago
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I'm still wondering why governments see it in their best interest (if it is in their best interest) to make it illegal. I know they can't track their citizen's activity on the network but when an individual cashes out, they would pay taxes on their earnings. To me it seems to be a choice of what does big brother value more - money or information? Banning a business from accepting bitcoin would be as hard as telling a business they couldn't give stuff away for free. I think they could shut down the exchange portals, but they couldn't keep people from trading goods for BTC. |
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Currently, the central banks (the Feds, and the various EU central banks) control the currency (by control, i mean they are the only ones able to print more of it). Now, i don't really know who controls those banks, but i m willing to bet that they are some powerful vested interests there. These people do not like the gold standard, simply because having a gold standard strips them of their power they currently enjoy.
Bitcoin, being a good candidate for a digital gold standard, will be targetd just like the gold standard was targeted in the 70's in the US of A. I really wish bitcoin could become recognized by the normal peoples of the world, but i think it can't, because there is no force behind it. The monopoly on using violence is the only way to have a currency adopted, and i don't see bitcoin getting any of that. my prediction is that bitcoin will be relegated to being a niche currency.