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by foobarqux 4574 days ago
All the people who believed BTC was immune to government intervention are getting hit by a dose of reality.
4 comments

People forget that for as long as we have more than one government in the world, they will be met at the feeding table in equal order, which is to say that we must never forget that the very mechanism by which we consider ourselves customers, consumers, individuals being serviced: so too are governments allowed this right.

And corporations now, as well.

So, if we are to look at this situation honestly the only real conclusion to be made is that this is an act of legitimization on the part of the Chinese law-makers, and we can all just stop pretending that .btc are not here to stay, and be used, and .. compete on the global money markets.

What I really can only say, in the rush of it all, is that I hope we can finally end the hegemony of the Petro-dollar, and all those invested in its persistence .. for it has been a very vile instrument, and the time has come. Crypto-currency has the stage.

there's the little detail that the government of the country you live in does get a bit more preference, if only by the fact that they can come to your house with guns.
Do those people exist?

I'm not aware of anyone who said BTC was immune from regulation.

Nearly all of /r/bitcoin, some people here and most of the "true believers".
Trading in USD is illegal/restricted in many places (China, Argentina, etc) but people always find a way around it.

There just needs to be a few killer apps on TOR (drugs, gambling, whatever) and bitcoin will always have some value.

Have to also understand that what is regulated is currency to BTC, not BTC to BTC.