The internet interprets government interference and censorship as damage and is designed to route around it. Will the cypherpunks’ creation do likewise?
Governments Planning Worldwide Regulation of Bitcoin
Edit:
And here’s a link to DLS’s Reddit post:
https://www.reddit.com/r/CryptoCurrency/comments/o9fd7l/governments_planning_global_coordinated/
Jacko wrote:
Will the cypherpunks’ creation do likewise?
Sure! As said before, Cryptos are primarily handy for a plethora of criminal activities and organized crime will of course at least try to find ways around any crime fighting activities.
It would be even more interesting to see if those parts of the Crypto-Community that pretend they do not support organized crime will come up with alternative proposals to fight money laundering and terrorism financing.
With dollars being the global criminal currency of choice then perhaps something should be done about that and the banks. Danske Bank did quite a bit of money laundering I seem to recall.
Off_Field wrote:
With dollars being the global criminal currency of choice then perhaps something should be done about that and the banks
Absolutely! And therefore it is. The organization who wrote the proposed regulation on cryptos quoted above has been founded 30 years ago to do exactly that. This is the reason why it is quite difficult to transport significant amounts of dollars across any border or to transfer a significant amount of dollars to someone else w/o being noticed.
Danske is actually a ver good example: If were not a Bank (but an unregulated “exchange”) and they traded with BTC and not with EUR/USD/etc. what they were caught and punished for would a) not have been illegal today in the first place and b) most likely not detected.
But because they are a Bank and because such regulations exist they have been caught and prosecuted.
Sorry if you think that what is caught represents the all of the fraud then that’s pretty wishful.
Go back to the sub prime with Goldman selling junk sub prime to clients, whilst massively shorting it.
There is a fundamental difference though, where people who value individual liberty and owning your own property, data, decisions, etc and those who want the nanny state to regulate every aspect of their lives.
I do confess:
I want a state that prosecutes people that kill others, that makes it hard for people who sell drugs to my children to benefit from these revenues and that tries to prevend that people or their families are being paid to bomb the office building I work in.
And even though no state is perfect in doing so, I do not think it is a valid argument to say „they never catch al murderers so murder does not need to be forbidden in the first place“
If you call that nanny state, then I want a nanny state. I call it civiliztation.
I want a state that prosecutes people that kill others,
Isn’t killing people who never killed anyone precisely what states like Germany, Iran, Japan, UK, China, USA, etc. have done on an industrial scale in living memory?
that makes it hard for people who sell drugs to my children to benefit from these revenues
That’s surely the parents’ job – to raise their offspring in such a way as to limit demand for harmful drugs. Demand sustains the supply of drugs, not vice versa.
and that tries to prevent that people or their families are being paid to bomb the office building I work in.
Fair enough, but is that really such a worry? Nobody ever tried to bomb my office – yet. Am I exceptionally fortunate in that respect? I did earn a bit of taxpayers’ money supervising work at the bottom of the Thames to bomb-proof the Bakerloo and Northern Line tunnels and to install flood defences in London’s docklands, but that sort of civil engineering work is hardly indicative of a nanny state.
@Jacko you might think a little differently if you were in Paris around the time of Charlie Hebdo or your children were attending a concert at the Bataclava or at the Manchester Arena.
I accept that during the troubles in N.Ireland I had a choice whether or not I was prepared to work and stay at the Europa hotel when the IRA planted a bomb there.
Can parents really be sure of stopping their children experimenting with sex, alcohol or drugs without locking them up? Somebody creates something new, whether that is a new experience or a new drug and sadly many young people just can’t resist trying it and telling their peers, which in turn creates the demand which there is always someone willing to meet, at a profit.
The footballer Neymar is about to be paid a huge salary at PSG, although it is less than he received at Barcelona. Bonuses will be paid in a Crypto Currency AIUI, do you think this will create a demand for Bitcoin or another such. And if it does who will profit most the sellers/miners of crypto currencies or Neymar?
Interesting article: The 13 banks investing the most in crypto and blockchain to date
Several of these super-trustworthy financial stalwarts are preventing their customers from transferring funds to crypto exchanges. How altruistic is that!
It would be even more interesting to see if those parts of the Crypto-Community that pretend they do not support organized crime will come up with alternative proposals to fight money laundering and terrorism financing.
This “Bitcoin is only for criminals” mantra is ill-informed or disingenuous FUD, just like all the other ESG nonsense spread by the financial industry dinosaurs. The Bitcoin blockchain is open for all to download, examine and maintain at home on a Raspberry Pi. No bricks-and-mortar bank remotely approaches the same level of openness.
