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Re:Why blockchain is not yet working (2018) by africanboy on Monday February 15, 2021 @06:28PM (#26149056)
> But with Bitcoin you can drive across the border and actually buy milk or medicine, no fiat currency involved.

I still don't understand why the government of Venezuela is so bad that it's literally leaving their people without the necessary means to buy milk, where "government has been able to partially block internet access to citizens by using a system that allows them to restrict selected content that may threaten their power over the country" but allows people to use untraced bitcoins...

Re:Why blockchain is not yet working (2018) by mlthoughts2018 on Monday February 15, 2021 @09:18PM (#26150193)
By what means can a government restrict use of Bitcoins that you hold in your own hardware wallet? You can run your own VPN at home. I don’t believe it would ever be practical for any government, of any size or sophistication, to prevent use of Bitcoins.

Governments are deeply incapable of stopping even just basic crimes and fraud. If they can’t stop overtly criminal acts often committed with no technology to assist in obfuscation, why would anyone believe they can (a) detect network traffic somehow related to Bitcoin and (b) trace it back to an individual and (c) prove that individual has broken some law? Let alone to do this to perfectly law-abiding citizens conducting perfectly legal purchase of Bitcoin.

Your point is very bizarre to me. Are you suggesting a government so incapable of managing fiscal activities that it descends into hyperinflation crisis is somehow magically super competent at extremely bespoke and difficult internet traffic surveillance of legal cryptocurrency transactions they have no reason to need to invest in expensive capabilities to monitor in the first place?

Re:Why blockchain is not yet working (2018) by africanboy on Tuesday February 16, 2021 @03:50AM (#26152144)
> You can run your own VPN at home.

they can block VPN traffic

> Governments are deeply incapable of stopping even just basic crimes and fraud

that's just silly

in my countries there are 270 homicides every year on a population of 60 million people

do you think it's luck?

> detect network traffic somehow related to Bitcoin

because it's stupid easy

> prove that individual has broken some law?

do you really believe that in places like Iran or North Korea they really need to prove individuals broke some law?

> Are you suggesting a government so incapable of managing fiscal activities that it descends into hyperinflation crisis is somehow magically super competent

if they are so incompetent, why are they in charge then?

if they are so incompetent, how did they manage to censor any media channel, including the internet?

remember that "poor" countries aren't really poor, regimes keep the population in poverty but they still handle a ton of money.