Why I Don't Like the Pro Government Regulation People In Bitcoin
The creator of bitcoin had in mind a currency that was fully autonomous and anonymous, for the people and by the people, that governments could not control, allowing extremely cheap, fast, private and secure money transfer methods that were far-superior to what we see with current, traditional systems. But, most people are dumb. They will see a fast/cheaper money-transfer solution that is being offered by a ‘trusted’ source, so they will all jump on it. And if/when fiat fails, what better way to scare people into using your shiny new currency that is fully-controlled and monitored at all times. Solutions like bitcoin take control away from government and give that control back to the people, which cannot be allowed (according to those in power). So, these scary solutions will be pushed out, taxed, and prohibited et al. so that people will have no reasonable choice but to use the ‘official’ currencies, whatever form that ends up being. Every, single time money exchanges hands, every purchase, will be monitored, tracked, taxed and fully-controlled. They will know how much you have, where it came from and where it’s going -at all times. They will decide if you are allowed to make certain purchases or transfers, based on your age, location, nationality, tax debt, child support debt, criminal history etc.; whatever they see fit. Eventually, even your political views and online posts may be weighed as a matter of national security, allowing justification of more control. Something like this will need to be in place before a universal income system is established, which seems likely to happen, eventually. This will all be enforced through extradition treaties and The Banking Secrecy act. Eventually on developers, software wallet developers, especially Samurai and BISQ. Neither Party in american can be trusted.
Interview: Amir Taaki on the Early Days of Bitcoin
Home of the Bitcoin Takeover Podcast, the BTCTKVR open source magazine, and loads of other forms of BTC-related content. Articles available in English, French, Spanish, and German.
Does Bitcoin suffer from the "Cobra Effect?"
How a Fear of "Perverse Incentives" Underlies Many Bitcoin Environmental Critiques