Governments Worry That Cryptocurrencies Could Be the ‘Next Swiss Bank Account’

Re:Governments Worry That Cryptocurrencies Could Be the ‘Nex... by kneel on Monday January 29, 2018 @11:20PM (#16262855)

For now, the law is on a collision course with technology.

Taxable events need to happen in fiat, there is too much incentive to obfuscate these events on blockchains.

Transactions in cryptocurrencies will become increasingly hard to trace.

I'm not sure governments know what they're up against.

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Re:Governments Worry That Cryptocurrencies Could Be the ‘Nex... by TeMPOraL on Tuesday January 30, 2018 @01:59AM (#16263403)

> I'm not sure governments know what they're up against.

Oh, they know. Bunch of idealists who are also pretty bad programmers with delusions of understanding finance. Plus a lot of scammers, and even more gullible people who just want to get rich quickly. Nothing governments can't handle when they eventually start caring.

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Re:Governments Worry That Cryptocurrencies Could Be the ‘Nex... by kahnpro on Tuesday January 30, 2018 @07:31AM (#16264724)

Yup. Everything old is new again.

Governments aren't facing any new problems here... while crypto can be moved faster than cash, I suspect that in the end governments may end up with even tighter control of crypto than they ever had with cash.

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Re:Governments Worry That Cryptocurrencies Could Be the ‘Nex... by kneel on Wednesday January 31, 2018 @11:41AM (#16275165)

>I suspect that in the end governments may end up with even tighter control of crypto than they ever had with cash.

I'd LOVE to see a govt try to control cryptocurrencies, the thought is laughable.

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Re:Governments Worry That Cryptocurrencies Could Be the ‘Nex... by garmaine on Wednesday January 31, 2018 @07:39PM (#16278866)

The whole point of bitcoin is that there is no mechanism by which government (or any other actor) could exert such control.

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