RE: Top five most interesting cryptocurrency articles for Monday, Aug. 21
I think that many central banks of "weak" currencies will embrace blockchain technologies as a method of fighting the supremacy of dollar and euro. On the other hand, central banks of the strongest currencies (dollar, euro, yuan, swiss franc and british pound) will oppose to this technologies, and the governments using this currencies will issue laws that limit usage of cryptocoins. Well, UK and Switzerland may not issue very strict laws because they have a very strong finance industry, but they wont promote use of them either.
About monero and blockchain analysis news they show the two faces of cryptocurrencies. On one side, they can destroy privacy if they get strongly regulated. On the other side, they can greatly increase the size of problems like tax evasion and black market traffic.
Switzerland has started to embrace blockchain tech....Gnomes of Zurich!
TBH I'm sure this is going on globally - but few will admit it so openly. There is no way they can ignore this tech for much longer or else they'll risk being left behind.
Where as I agree that larger, developed countries will try to limit the efficacy of crypto coins - I think they'll only limit the extent that they can do the tech and create their own digital currency.
True, that is a very simple decision that probably would be enough for preventing current cryptocoins for increasing his market cap beyond gold. Cryptocoins created by governments would be much more convenient as they would have less strict anti-laundering and tax regulations.
On the other hand, biggest central banks are limiting cash operations, and they may completely ban cash when their cryptocoins are mature enough. Then the black money will migrate to monero and similar cryptocoins. My question is: the future crypto black market will be bigger or smaller than current cash black market? I hope it would be smaller, but I am afraid it would be bigger.
I think the crypto black market will correspond to how many forward thinking, technologically advanced participants are participating. I don't think it will inherently go one one direction or another based solely upon government interference.