The Edited Latecomer’s Guide to Crypto

Re:The Edited Latecomer’s Guide to Crypto by roenxi on Saturday March 26, 2022 @04:39AM (#30810247)

Society has banned the consumption of illegal drugs (!). How is that ban going vis a vis shutting the market down? Ditto copyright infringement. Some things the government cannot ban.

Without the ability to create and control chokepoints like banking institution, it may be impossible to stop people voting with their feet when it comes to international crypto transfers. Especially once people figure out what privacy preserving designs work in practice.

Given the whispers around unbanking political protesters, at some point it may become necessary to deal in crypto to have a political opinion. They can't arrest everyone.

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Re:The Edited Latecomer’s Guide to Crypto by phatfish on Saturday March 26, 2022 @05:27AM (#30810438)

As the parent said, if Crypto ever became a threat to government control of their economies it will be regulated. In fact the blockchain protocol provides the audit trail to enable the regulation.

Any anonymous chains like Monero will be blacklisted and only exist in an island where its economy is limited to certain illegal commodities, with the off ramp to wash it clean complex.

I don't want some unknown group of Crypto Bros completely outside my control running the economy of my country. At least in a democracy the people have some control.

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