China's Central Bank Bans ICOs

Re:China's Central Bank Bans ICOs by kobeya on Monday September 04, 2017 @02:45PM (#15170094)

No it's not a trick question. Tax fraud investigation relies on bank cooperation. Bitcoin doesn't cooperate with anybody. They can make toothless voluntary requests though.

More likely society evolves in the face of bitcoin to integrate or at least mitigate it rather than fight it, just like music delivery is chiefly now by streaming subscription services rather than album sales.

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Re:China's Central Bank Bans ICOs by AndrewKemendo on Monday September 04, 2017 @09:59PM (#15172006)

Bitcoin doesn't cooperate with anybody.

Go try and turn your Bitcoin into cash and then tell me how true this statement is.

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Re:China's Central Bank Bans ICOs by kobeya on Tuesday September 05, 2017 @01:29AM (#15172739)

The purpose of bitcoin is to be used. Once it has seen enough adoption, you don't turn it into cash. It is cash.

Also I do local bitcoin transactions just fine thank you very much.

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Re:China's Central Bank Bans ICOs by AndrewKemendo on Tuesday September 05, 2017 @12:07PM (#15176533)

Once it has seen enough adoption, you don't turn it into cash.

Therein lies the rub and the crux of my point. A government WONT LET IT see enough adoption that you can subvert the sovereign monetary system.

I think you underestimate how big of a deal it would be to move 100% of commerce off of the USD. Nations go to war for less.

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