I was looking at these events technologically at first. But now I see that it has turned into a political war.
I don't think the one who is in favor of innovation will lose. Because the current system is very bad. You need to update.
And America has made a very good move. China has taken bitcoin away from itself, while America has embraced it. Bitcoin now looks like this: scientists who fled Germany in the second World War. He runs away from the tile and is looking for someone who will accept himself.
There is no revolution. It is a steady undermining of the institutions of governance in the western liberal democracies.
For those who want good governance and transparency, Crypto and its associated "decentralization" ideology are the complete blacking out of transparency and the slow undermining of the always-ongoing project of good governance that is a foundation of western liberal democracy.
The revolution of crypto will be a triumph of corruption and autocracy. Hence those are the ones who have been most behind the project from the beginning.
I disagree. Transparency means different things. At least with crypto- the transactions themselves are visible to all. It's the context that is missing. With Governments and Fiat - The transactions may or may not be visible, and the context is only there if they choose to tell you. Fiat is better for hiding things then crypto ever was.
What good is it (except for ransomware, resource theft, drug and arms sales, tax evasion, etc.) to just see one anonymous ledger transaction to another anonymous one?
If you have an argument, you should specify what it is. Simply amounts and unattributable identities of a money-exchange is the good is a little light.
The assertion that fiat is better either shows a strange understanding of both or some sort of ignorance of both crypto and fiat.
There is definitely a strange understanding, that's a fair assertion. Fiat is easy to hide things. Your presented response is transparency and undermining western liberal democracy. I assert that in all governments, including western liberal style democracy, it is easier to obfuscate both transactions, and the reason for transactions, by government, with fiat. It is easier to lie and hide. At least with a shared ledger, the people , should they be bothered to care, can see unexplained governmental transactions, and ask questions. The ability to hide information from the people is a far stronger destroyer of modern limited republics, regardless of their baseline economic principles.
I don't assert that Crypto is perfect or the only solution. I do think it's a method that does have some merits and values that should be explored. I find the virtues of it to be on par with its vices, or sometimes the virtues are its vices. However, perhaps anonymity does not need to be intrinsic to a blockchain, which would promote greater accountability. The more people use it globally, the more idea's and use cases emerge, along with the shady sides of it. But I don't need crypto for resource theft, drug and arms sales, or tax evasion, etc. These where all pretty well developed and mature fiat processes, that are just temporarily using a slightly more convenient tool, in some ways. Sorry for the long post/response.
There is a good reason for all ransomware being financed by crypto and no such usage for national currencies. The same goes with every transaction of the dark web. I'm not sure if you've spent any time there, but it is vast and entirely run on crypto.
Crypto was a nutty experiment coming from a spectrum of people who didn't want the government to be the only owner of cryptographic technology. That easily solved itself. And then came Satoshi. It was a just another project out of the same milieu. Until Silk Road. And then it was launched on its way.
No one used USD, etc. ever again on Silk Road or anywhere in this milieu. Which, of course, transacts billions of dollars of drugs, weapons, protected species, blood resources, etc.
Virtually none of these use national currencies anymore.
To the extent national currencies are used at all for these sorts of things, its physical cash, such as the Hawala networks. But even those are moving rapidly onto crypto and probably more than half of the transactions (mostly for weaponry) are done now with crypto.
There's plenty of "wealth corruption" still going on. But that is harder and harder to do and only possible where the USD and SWIFT and OCC, etc. are circumvented. And these things are usually eventually discovered. See Pandora.
Bans are less effective now. Because people are learning slowly.
Bitcoin is a technology, and we will own it.
America has evaluated the mistake made by China very well. And if it goes like this, China will be very upset. If it wasn't for America, another country would have taken over. Because I think bitcoin=power. And everyone wants to be strong.
Other countries are missing a huge opportunity. They should realize it as soon as possible.
This is good news that China and there fud is starting to be stopped. I'm happy to see alot of the bigger company banning mining rigs, and exchanges banning btc trading from China. Every month they "ban" bitcoin and the price tanks. It's great that all of these people are catching on and trying to put a stop to it. Once America realizes that bitcoin is here to stay and all these American Institutes start embracing btc and blockchain technology, then we can start to see mass adoption and a very steady price movement upwards where it belongs. Bitcoin should be at the very least 80k each right now, it will be. At least thise of us that know can still gain enough while it's relatively cheap so we can prosper feom it.
Everyone has to suffer the consequences of their actions, including China. America made good use of the opportunity. The country that will rule the crypto world for the future is very important, so whatever is more advantageous for us.
It is impossible to escape from technological innovations and developments, no matter how hard you try, people pay more attention to innovation and transparency.
Bitcoin is a technological invention.
This invention offers people financial freedom and the opportunity to take their future in their own hands.
While all this is promised to people, trying to stop or block Bitcoin is a useless effort and a waste of time.
Nothing can stop bitcoin, it's very strong and keeps getting stronger, countries try to manipulate by doing such things but they will not succeed ,i hope america continues like this.
The day America bans crypto is the day we lose the next 30 years of innovation.
I was looking at these events technologically at first. But now I see that it has turned into a political war.
I don't think the one who is in favor of innovation will lose. Because the current system is very bad. You need to update.
And America has made a very good move. China has taken bitcoin away from itself, while America has embraced it. Bitcoin now looks like this: scientists who fled Germany in the second World War. He runs away from the tile and is looking for someone who will accept himself.
Thanks for the nice article.
It's funny to abandon technology for politics
There is no revolution. It is a steady undermining of the institutions of governance in the western liberal democracies.
For those who want good governance and transparency, Crypto and its associated "decentralization" ideology are the complete blacking out of transparency and the slow undermining of the always-ongoing project of good governance that is a foundation of western liberal democracy.
The revolution of crypto will be a triumph of corruption and autocracy. Hence those are the ones who have been most behind the project from the beginning.
Wake up before it's too late.
I disagree. Transparency means different things. At least with crypto- the transactions themselves are visible to all. It's the context that is missing. With Governments and Fiat - The transactions may or may not be visible, and the context is only there if they choose to tell you. Fiat is better for hiding things then crypto ever was.
What good is it (except for ransomware, resource theft, drug and arms sales, tax evasion, etc.) to just see one anonymous ledger transaction to another anonymous one?
If you have an argument, you should specify what it is. Simply amounts and unattributable identities of a money-exchange is the good is a little light.
The assertion that fiat is better either shows a strange understanding of both or some sort of ignorance of both crypto and fiat.
Explain?
There is definitely a strange understanding, that's a fair assertion. Fiat is easy to hide things. Your presented response is transparency and undermining western liberal democracy. I assert that in all governments, including western liberal style democracy, it is easier to obfuscate both transactions, and the reason for transactions, by government, with fiat. It is easier to lie and hide. At least with a shared ledger, the people , should they be bothered to care, can see unexplained governmental transactions, and ask questions. The ability to hide information from the people is a far stronger destroyer of modern limited republics, regardless of their baseline economic principles.
I don't assert that Crypto is perfect or the only solution. I do think it's a method that does have some merits and values that should be explored. I find the virtues of it to be on par with its vices, or sometimes the virtues are its vices. However, perhaps anonymity does not need to be intrinsic to a blockchain, which would promote greater accountability. The more people use it globally, the more idea's and use cases emerge, along with the shady sides of it. But I don't need crypto for resource theft, drug and arms sales, or tax evasion, etc. These where all pretty well developed and mature fiat processes, that are just temporarily using a slightly more convenient tool, in some ways. Sorry for the long post/response.
There is a good reason for all ransomware being financed by crypto and no such usage for national currencies. The same goes with every transaction of the dark web. I'm not sure if you've spent any time there, but it is vast and entirely run on crypto.
Crypto was a nutty experiment coming from a spectrum of people who didn't want the government to be the only owner of cryptographic technology. That easily solved itself. And then came Satoshi. It was a just another project out of the same milieu. Until Silk Road. And then it was launched on its way.
No one used USD, etc. ever again on Silk Road or anywhere in this milieu. Which, of course, transacts billions of dollars of drugs, weapons, protected species, blood resources, etc.
Virtually none of these use national currencies anymore.
To the extent national currencies are used at all for these sorts of things, its physical cash, such as the Hawala networks. But even those are moving rapidly onto crypto and probably more than half of the transactions (mostly for weaponry) are done now with crypto.
There's plenty of "wealth corruption" still going on. But that is harder and harder to do and only possible where the USD and SWIFT and OCC, etc. are circumvented. And these things are usually eventually discovered. See Pandora.
Bans are less effective now. Because people are learning slowly.
Bitcoin is a technology, and we will own it.
America has evaluated the mistake made by China very well. And if it goes like this, China will be very upset. If it wasn't for America, another country would have taken over. Because I think bitcoin=power. And everyone wants to be strong.
Other countries are missing a huge opportunity. They should realize it as soon as possible.
Stay with Bitcoin.
Thanks for the article.
Have a nice day.
This is good news that China and there fud is starting to be stopped. I'm happy to see alot of the bigger company banning mining rigs, and exchanges banning btc trading from China. Every month they "ban" bitcoin and the price tanks. It's great that all of these people are catching on and trying to put a stop to it. Once America realizes that bitcoin is here to stay and all these American Institutes start embracing btc and blockchain technology, then we can start to see mass adoption and a very steady price movement upwards where it belongs. Bitcoin should be at the very least 80k each right now, it will be. At least thise of us that know can still gain enough while it's relatively cheap so we can prosper feom it.
I'm a Bitcoin hodler for life.
Peace all
Everyone has to suffer the consequences of their actions, including China. America made good use of the opportunity. The country that will rule the crypto world for the future is very important, so whatever is more advantageous for us.
América calls itself "land of the free" so it makes sense not to ban crypto. Good things will come from this.
It is impossible to escape from technological innovations and developments, no matter how hard you try, people pay more attention to innovation and transparency.
Bitcoin is a technological invention.
This invention offers people financial freedom and the opportunity to take their future in their own hands.
While all this is promised to people, trying to stop or block Bitcoin is a useless effort and a waste of time.
Nothing can stop bitcoin, it's very strong and keeps getting stronger, countries try to manipulate by doing such things but they will not succeed ,i hope america continues like this.
Thank you for the article.