Re:The political case for a blanket cryptocurrency ban
by hakesdev on Friday April 02, 2021 @01:50PM
(#26673844)
>you underestimate the ability of countries to cooperate
you,handwaiving all 190+ nation states will go along with AND have incentive to do what the all powerful US says...
OKAY, buddy...
Also, and please be honest with yourself, would you like to live in where the US unilaterally decides what private property rights should exist and not? I sure as heck hope you don't want that future.
Re:The political case for a blanket cryptocurrency ban
by bayesian_horse on Tuesday April 06, 2021 @01:27AM
(#26708200)
The US does this all the time with its monetary sanctions. That's why sanctions against Iran and Russia are quite a big deal for these countries. Even nations that don't really want to take part in those measures are affected because their national banks have to do business in the US or with US banks and businesses.
Your reasoning is faulty, because you underestimate the ability of countries to cooperate. The US could probably even enact a virtually global ban on its own. Yes, some countries could try and resist, or some companies (and criminal organizations, of course) but they would be instantly limited to a much smaller market.
The only thing nations would have to do is make the interface between the Bitcoin economy and the rest of the economy illegal and too cumbersome. Bitcoin wouldn't die, but it would crash hard.