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RE: February 6th is shaping up to be an important day for Cryptocurrencies
In a way I feel like these discussions about regulations for cryptocurrencies are a show of power rather than anything meaningful. I mean, they can only regulate if they allow cryptocurrencies to be used legally or not. If they would choose that they become illegal, that would just cause big problems for them. So the best for them is just to say that cryptos are legal and this is how you can turn them into fiat or buy stuff. That will give them the illusion of power, rather than starting a "war on cryptos" (compare to war on drugs, really successful).
Yes good points. Though I imagine if they really wanted to outlaw/ban them, they could probably do it pretty effectively by just killing off the exchanges and fining anyone found to be holding them. That wouldn't make cryptos go away, but it certainly would take a big chunk out of that current $600 billion market cap.
For some time. But it would turn the development towards more secure cryptography so that it would be even harder to tell who owns cryptos. And eventually the whole system would go underground and only the criminals would be using them. And there would always be some people who are really smart spending their time developing it further because of the challenge. It would in a way point the direction of development, in the wrong direction, however, making it clear where to go.
Yeah but if you take a look at the "war on drugs" it figures the who abetted the international drug trade and created many of the drug running routes were actually state apparatuses. so it was collosal psy-op waged on individuals. I'm afraid cryptos will become the same if governments intervene too much.
True. The cryptocurrency technology is too good to just be thrown away.