Why would the powers that be allow this to happen? I don't understand this fairy tale view
Re:“They’ll Just Make It Illegal”
by erikpukinskis on Sunday June 24, 2018 @04:03AM
(#17385530)
I don’t see how a government could stop it without basically banning writing code.
Also, if blockchains prove to be a valuable technology then jurisdictions that ban them will be at a competitive disadvantage.
I make the same argument about self driving cars: yes they could be banned, but SOME government will allow them and then global media will make that difference stark.
The ecosystem is quite dependent on fiat crosses... the U.S. government alone has the power and the tools to destroy crypto.
You can't hurt the rentiers, e.g. large American banks, and expect them to not get compensation or destroy you in turn. They are the law. To think that it matters that the technology is better (and it's debatable that it really is) is ludicrous.
The whole premise "exchanges as identity gatekeepers" is in contradiction with the promise of stable world wide cryptocurrencies that ar just as good as fiat. When that happens, nobody needs exchanges and money laundering becomes a fundamental feature of the financial system.